US, Asia remain major markets for Thai Hom Mali rice

BANGKOK, March 22 (TNA) - The Thai Rice Exporters Association says that the United States and Asian countries appear to be key importing markets for Thai fragrant or "Hom Mali" rice in the long run. The association projected on Friday that Thailand's exports of Hom Mali rice to the US and the Asian markets, including Hong Kong and China, should be rather stable although the country's overall rice exports declined in the first two months of this year. The Thai Rice Exporters Association reported that overall Thai rice exports during the January-February 2013 period amounted to 1.05 million tonnes, worth 22.36 billion baht, a drop by 0.9 per cent in volume and 0.6 per cent in value compared with 1.06 million tonnes and 22.49 billion baht during the same period last year. According to the Thai Rice Exporters Association, five largest importing markets of Thai rice during the first two months of this year included Iraq buying 168,337 tonnes, Benin 114,654 tonnes, the United States 66,011 tonnes, South Africa 56,198 tonnes and Congo 55,454 tonnes. Thailand's exports of parboiled rice to Benin rose last month, but the same exports to Nigeria considerably dropped as the Nigerian government has raised its rice import duty to 110 per cent, prompting buyers to have turned to cheaper sources. The Thai Rice Exporters Association acknowledged that prices of Thai grains are now more expensive than those of other rival countries by 120-180 US dollars per tonne, resulting in Thailand's having lost most white rice markets to Vietnam, India and Pakistan. As of March 20, the Thai Rice Exporters Association pointed out, the prices of white rice 5 per cent of Vietnam, India and Pakistan had stood at 395-405 US dollars per tonne, 440-450 US dollars per tonne (free on board:FOB) and 430-440 US dollars per tonne (FOB) respectively; while the price of Thailand's white rice 5 per cent had stood higher at 573 US dollars per tonne (FOB). The Thai Rice Exporters Association expected that Thailand's exports of grains should total about 500,000 tonnes this month. (TNA)