Thai rice exports in 2014 could exceed 9 million tonnes target

BANGKOK, August 10 (TNA) - The Thai Rice Exporters Association expects Thailand’s rice exports this year to exceed the target of nine million tones, thanks to high demand from oversea. Chukiat Opasawong, Honorary President of the Thai Rice Exporters Association, said Sunday it is highly likely that Thailand will be able to export more than nine million tonnes of rice, although the rice export volume might not reach 10 million tonnes mark. This will result to an increase of the domestic rice price for crop to be harvest late this year to 8,500 baht per tonne in line with the intention of the governing National Council for Peace and Order, Chukiat said. He noted most oversea buyers want to purchase new crop and are not very interested to buy paddy from the government’s stocks, thus he expects the country to be able to clear 18 million tonnes of rice in the stocks within 3-4 years. Meanwhile, Charoen Laothamatas, President of the Thai Rice Exporters Association, said Thailand should be able to export more rice in the remaining months of the year and the export volume should reach some 700,000-800,000 tonnes of rice per month due to high demand in the region, especially from Malaysia, Indonesia and the Philippines. Charoen said Thailand is also likely find rice exports less difficult as rival Vietnam does not have sufficient rice for exports. The Thai Rice Exporters Association president said the Philippines will open bidding for the supply of 500,000 tonnes of rice on August 27 and this is a good opportunity for Thailand to try to clinch the import deal. He noted that Thai rice prices remain lower than that of Vietnam. (TNA)