Japan, Philippines purchase over 900,000 tons of Thai rice by year end

BANGKOK, October 22 (TNA) - The Ministry of Commerce reports that more than 900,000 tons of Thai rice will be shipped to Japan and the Philippines during November-December 2018 as stated in earlier contracts, which should boost the country's rice exports to more than 11 million tons as officially-targeted this year. Wichai Phochanakij, Director-General of the ministry's Department of Internal Trade, told journalists of the information on Monday, acknowledging that the prices of Thai rice have been, thus, increasing to a satisfactory level. Wichai said that a drop in rice output by at least 20 per cent year-on-year so far this year in major grain producing provinces in the Thai Northeast, namely Roi Et, Buriram, Surin, Chaiyaphum, Nakhon Ratchasima and Khon Kaen, especially Hom Mali or fragrant rice, has dropped due to the insufficient water supply in the areas, which has also boosted the prices of Thai grains. According to the senior official, the prices of Thai Hom Mali paddy, earned by local farmers, have risen to over 15,000 baht per ton so far. The senior official stated that the price of Thailand's Hom Mali rice with 15 per cent moisture content has hit a historic high of 14,750-17,700 baht per ton, from 11,550–14,500 baht per ton in the previous year, while the prices of long glutinous grains with 15 per cent moisture content and white rice with 5 per cent moisture content have been increased to 9,000–10,800 baht per ton and 7,500–7,900 baht per ton respectively, from 7,200–12,000 baht per ton and 7,300–7,800 baht per ton in the previous year. Besides, the Thai government has a policy on organizing business matching platforms between the supply and the demand sides of rice trade, namely local farmers and buyers, and on supporting the storage of grains by both the public and the private sectors to boost the Thai rice prices to targeted levels. The senior official mentioned that the factors have not only boosted the Thai rice exports during the rest of this year, but the prices of Thai grains and income of local farmers.(TNA)