The Commerce Ministry has disclosed that domestic and export rice prices are seeing positive trends. However, the ministry has revealed that rice exports for the last eight months has been lower than last year due to various factors.

Internal Trade Department Director General Wacharee Wimuktayon stated that the rice market is doing well with constant demand from abroad.

Prices for all types of rice have gone up with unprocessed jasmine rice selling at 13,400 to 15,500 baht per ton, unprocessed glutinous rice at 16,000 to 17,000 baht per ton. Lower quality jasmine white rice sold in 100-kilogram sacks are at 3,020 to 3,030 baht.

Rice exports for the last eight months totaled 5.3 million tons, worth more than one trillion baht, which is less than last year's figure of 5.8 million tons, totaling 1.1 trillion baht.

Commerce Minister Porntiva Nakasai commented that Thailand's main rice export rival, Vietnam, has slowed down their rice export which will benefit Thai rice exports.

However, she said that the two countries need to cooperate rather than compete and related agencies from both countries will hold a meeting to discuss possible trade cooperation.

Thai Rice Export Association President Korbsuk Iamsuri believes that this year's rice export will not reach the target of nine to 9.5 million tons because the first half of the year saw only around four million tons of rice exported, or a reduction of 5.15 percent.

One of the affecting factor is the depreciation of the Euro which brings up Thai rice prices in African countries, thus slowing down rice exports to the continent.

Also, since Vietnam's rice export prices were lower than Thailand's, many countries turned to Vietnam for rice.

Source: TANN