Thailand's rice exports on world top list in 1st half 2016

BANGKOK, August 3 (TNA) - Thai rice exports have been slated the top on the world market, with shipments of the Thai grains to trading partners reaching nearly 5 million tonnes during the first half of this year. Charoen Laothammathat, President of the Thai Rice Exporters Association, told journalists on Wednesday that the country's rice exports totaled over 4.99 million tonnes during the January-June 2016, higher than India at 4.76 million tonnes and Vietnam at 2.66 million tonnes. Charoen projected that overall Thai rice exports should reach 9.5 million tonnes by the end of this year, worth about 4.4 billion US dollars, retaining the country's status as the world's top rice exporter. As major import markets in Asia and Africa are expected to place more purchase orders for newly-harvested Thai grains later this year Charoen foresaw that Thai rice exports should stand about 650,000 tonnes monthly on average in the third quarter of this year and about 800,000 tonnes monthly on average in the last quarter of 2016. According to the Thai rice exporters association chief, the Thai government's continual support through marketing plans, PR campaigns and negotiations with trading partners have also boosted demand for Thai rice on the world market. Besides, recovering economies of trading partners and reasonable prices of Thai rices have helped shored up demand for Thai grains on the global market. The Thai rice exporters association president cautioned, however, that risk factors remain in the second half of this year, which could affect Thai rice exports, including the appreciation of the Thai baht, a drop in demand for previously-harvested Thai grains and more domestic supply of rice in trading partners during the rainy season. (TNA)