Thailand's rice exports likely to reach 11m tons in 2018

BANGKOK, November 5 (TNA) - The Ministry of Commerce says it is likely that Thailand's rice exports this year should reach 11 million tons as targeted earlier. While voicing the updated projection, Wichai Potchanakij, Director-General of the ministry's Department of Internal Trade, acknowledged that Thailand has continued securing purchase orders from rice importing countries, including China, Indonesia, Japan, the Philippines and African nations. Besides, there is now only a very small amount of rice left at the Thai government's stocks and a reduced supply of grains has been reported in major rice producing areas in the Thai Northeast due to drought, coupled with the administration's market stabilization measures through the supply side. According to the senior official, the factors have also raised the prices of Thailand's 5 per cent-white rice with 15 per cent-moisture to 7,500-7,900 baht per ton, from 7,300-7,800 baht per ton, and Hom Mali or fragrant rice to 14,450-17,500 baht per ton, from 11,550-14,550 baht per tons. (TNA)