Thai rice exports set to fall below target in 2012

BANGKOK, Nov 3 (TNA) - Thailand’s rice exports in 2012 are projected at 7.5 million tonnes, a million tonnes below the target due to its high prices when compared to India and Vietnam, currently ranked first and second largest rice exporter respectively in the world, said Tikumporn Nartvorathat, deputy director general of Foreign Trade Department. Acknowledging that rice prices set by India and Vietnam are lower, Mr. Tikumporn, however, said he is still confident Thailand would still earn largest revenue from rice exports this year. To date, Thailand has already exported about 5.5 million tonnes of rice and earned 3.6 billion U.S. dollars. It is projected that the country could earn more than four billion U.S. dollars from rice exports in 2012 as the government is negotiating with a few countries to sell rice on government-to-government basis. The Thai government is now attempting to set up a rice federation in the Association of Southeast Asian Nations (ASEAN) by cooperating with Myanmar, Laos, Cambodia and Vietnam in an attempt to raise rice prices in the global market and to also avoid price cutting practices among them. Manas Kijprasert, acting president of Thai Rice Mills Association, said his association would accelerate on establishing rice federation in ASEAN and also plan to set up rice mills along the border to help facilitate exports. (TNA)