Thai rice prices remain competitive on world market

BANGKOK, December 30 (TNA) - Thailand's rice prices have remained competitive on the world market, with exports of the Thai grains expected to total about 9.5 million tons this year. The Thai Rice Exporters Association released the report on Wednesday, acknowledging that Thailand had exported about 8.58 million tons of rice during the first 11 months of this year and the association predicted Thai rice exports in December alone should increase about one million tons, resulting in the total volume of Thai rice exports should, thus, stand at about 9.5 million tons throughout this year. According to the association's report, Thailand exported about 8.58 million tons of rice, worth 136.80 billion baht or 4,077 million US dollars during the first 11 month of this year, a drop in its volume by 9.6 per cent year-on-year and in its value by 10.2 per cent year-on-year. The top five importers of Thai rice include China buying 835,031 tons, the Philippines 715,666 tons, Benin 702.373 tons, Nigeria 624,570 tons and South Africa 524,223 tons, with demand for Thailand's both old and new rice having continued for the Chinese New Year Festival 2016. At present, the report said, exporters are delivering Thai rice to China, Indonesia and the Philippines under government-to-government deals. Besides, the weakening baht and considerable supply have caused the prices of Thai rice to be close to those of competitors and, thus, competitive. (TNA)