Thailand's rice exports likely to exceed target in 2018

BANGKOK, August 8 (TNA) - Thailand's rice exports are expected to reach about 11 million tons, totally worth about 177 billion baht, in 2018 or about one million tons higher than an earlier target. Police Lieutenant Charoen Laothamatas, President of the Thai Rice Exporters Association (TREA), told journalists of the positive prospect on Wednesday, after exports of Thai polished rice stood at 6.23 million tons during the first seven months of this year, the world's second largest amount after India, but outpacing those of Vietnam, Pakistan and the United States. "If Thailand's exports of polished rice maintain at about 900,000 tons monthly during the rest five months of this year, the country's exports of polished grains are likely to reach about 11 million tons in 2018, totally worth about 177 billion baht, about one million tons higher than earlier targeted", the TREA president said. The TREA president pointed out positive factors that boost Thai rice exports this year, including higher demand in the Philippines, Indonesia, Malaysia and African nations and government-to-government (G-to-G) rice contracts Thailand has concluded with China. Besides, the depreciating trend of the Thai baht value and a drop in rice supply in some Asian countries, due to the El Nino phenomenon, should boost Thailand's shipments of rice to foreign countries during the rest of this year. (TNA)