Cambodia Rice: World Rice News: Thai rice exports in May Rise Above Target This Year

Thai rice exports in May Rise Above Target This Year

Thai rice exports this year could rise above the targeted levels due to demand from key importers and limited supplies in other exporting countries, Chookiat Ophaswongse, president of Association of exporters of rice in Thailand, has Dow Jones said in an interview Friday. “Rice exports this year should reach 8.7 million (metric) tons, given the strong demand in world markets for Thai rice,” Chookiat said.

The Thai government has set a target of exporting 8.5 million MT rice for 2007, an increase of 16.4% compared to 7.3 million MT exported in 2006. Thailand, the world’s largest rice exporter, has already exported 2.52vmillion MT of rice of 25 April this year, up 11.8% on year, the Ministry of Commerce Department of Foreign Trade said Wednesday.

Chookiat said Indonesia, which has shown a keen buyer after unfavorable weather reduced production of rice there, plans to import up to 2.2 million million tonnes of rice in 2007 to fill a shortfall of domestic ‘ offer.

Indonesia was imported only 600,000 tons of rice in 2006. “Indonesia has no choice but to import more rice this year, while Vietnam is almost sold out, so we can earn huge export opportunities in Indonesia
market, “said Chookiat.

Vietnam has already signed contracts to export 3 million tonnes of rice a target total of 4 to 4.5 million MT this year. The increase in demand especially from Indonesia, China, Africa and countries are expected to help sustain the export price of Thai rice, he said.

Thai 100% grade B rice is currently offered at about $ 325 a metric ton, free-on-board Bangkok. Thailand likely to produce more rice for export, given its favorable climate, sufficient rainfall and anti-drought in rice growing areas, he said. Source: RiceNews

More about Cambodia Rice Exporter, please visit: http://www.cambodiaorganic.com/
Cambodia tours=> http://www.tourismindochina.com/cambodia/tours/
Vietnam tours=> http://www.tourismindochina.com/vietnam/tours/
Laos tours=> http://www.tourismindochina.com/laos/tours/