Promising prospect for Thailand's Ko Kho 43 rice in China

BANGKOK, July 16 (TNA) - A large Chinese rice trading firm has agreed to promote and sell Thailand's Ko Kho 43 rice in the immense Chinese market through both the traditional and the e-commerce systems. Thai Deputy Commerce Minister Chutima Bunyapraphasara and Department of International Trade Promotion Director-General Chantira Jimreivat Vivatrat presided over the signing ceremony of a memorandum of understanding (MOU) between Bangkok-based Medifoods (Thailand) Co.,Ltd. and China-based Zhejiang Zhongpan Cereal and Oil Import & Export Co.,Ltd. at the Thai Ministry of Commerce on the outskirts of Bangkok on Monday. Under the MOU, China-based Zhejiang Zhongpan Cereal and Oil Import & Export Co.,Ltd. will purchase at least 10,000 tons of Thailand's Ko Kho 43 rice to be sold through the e-commerce system under the Thai Rice Flagship Store Project on the [Tmall.com] website and through its all other trading channels. Normally, Thailand's Ko Kho 43 rice is harvested every August-September at about 13,000 tons and the Chinese rice trading firm is expected to purchase the Thai grains from local rice cooperatives' whose rice stocks come from member farmers. According to the ministry's department of international trade promotion director-general, Zhejiang Zhongpan Cereal and Oil Import & Export Co.,Ltd. is the first company that has been contracted to import Thailand's Ko Kho 43 quality and fragrant rice for its sale and distribution in China, including through the [Tmall.com] website under the Thai Rice Flagship Store Project. The Chinese rice trading company's sale of Thailand's Ko Kho 43 rice through the e-commerce system on the [Tmall.com] website is on top of an earlier agreement, under which China-based Alibaba Group Holding Limited agreed in April 2018 to promote and sell Thailand's farm products and innovative farm produce directly to consumers through the same project and on the same website, including rice and fresh and processed fruits, especially durian and longan. (TNA)