The Commerce Ministry is preparing to host the ASEAN Rice Miller Cooperation to demonstrate Thailand's ability to produce high-quality rice. The event is also aimed at promoting Thailand as the regional rice trade hub.

Commerce Minister Porntiva Nakasai has claimed that Thailand's hosting of the ASEAN Rice Miller Cooperation will be a great opportunity for the country to demonstrate its rice production capacity.

Unlike other ASEAN members, Thailand has state-of-the-art manufacturing and storing technology.

The conference is also aimed at promoting joint-investment in the development of ASEAN agricultural products and to maintain regional rice trade balance.

Porntiva is hopeful that ASEAN rice producers, who have been undercutting each others' prices, will cooperate with each other to increase their bargaining power with the world market.

Since January of this year, Thailand has also imported approximately 4.8 million tons of rice, a decrease of 8 percent from the same period last year.

Other ASEAN rice producers such as Vietnam have also seen a drop in imports, indicating a shrinking global economy. The ministry believes Thailand will meet this year's goal of rice exports, set at between 8 and 8.5 million tons.

Last year, ASEAN countries exported more than 16 million tons of rice, with an estimated value of 8.8 billion U.S. dollars, and accounted for 56 percent of the global rice trade. Currently, ASEAN has about 9 million tons of rice in stock.

Source: TANN