Thailand to gain from lower rice supplyStaff writer ▼ | November 18, 2015
The Commerce Ministry of Thailand is set to release 13 million tonnes of rice from the government's stockpiles by the end of 2018.
Food Thailand to export at least nine million tonnes of rice next year
The ministry also expects rice shipments to reach 10 million tonnes this year, with shipments of about eight million tonnes worth US$3.8 billion (Bt127 billion) between January 1 to November 10.
Chutima Bunyapraphasara, permanent-secretary to the ministry, said yesterday that the government was confident it would clear the stockpiles within the next two years as many countries had lower rice stocks because of the El Nino climate effect.
She said that the government set up a strategy to release rice from the stockpiles in June 2014.
The first G-to-G between Thailand and China for one million tonnes of rice will be completed early next year. Thailand has already shipped about 800,000 tonnes of rice to China.
Thailand will soon sign a contract to sell 500,000 tonnes of rice to the Indonesian government. ■