Thai rice exports expected to reach official target

BANGKOK, May 24 (TNA) - Thailand's rice exports are expected to reach 8 million tonnes this year, as officially targeted by the Ministry of Commerce, making the Kingdom maintain as the world's top rice exporter this year. Permanent Secretary for Commerce Vat-cha-ri Vi-mook-ta-yon said today (May 24) she is confident that Thailand will export 8 million tonnes of rice this year as targeted, despite impacts from the strong baht, thanks to high demand for rice on the world market, especially from the immense Chinese economy. Vatchari also pointed out although India and Vietnam are exporting more rice than Thailand, their rice yields and stocks have started declining and they need to keep their rice for domestic consumption, which should be a good opportunity for Thai rice exporters. According to the senior official, her ministry's Department of Foreign Trade is discussing government-to-government or G-to-G rice trade with the countries which are interested in importing Thai grains to realize the country's rice export target in 2013. Meanwhile, Ka-nit Su-kon-tha-man, President of Export-Import Bank of Thailand (EXIM Bank) suggested that local small and medium enterprises or SME exporters insure foreign exchange risks regarding the fluctuation of the baht value. (TNA)