RICE exports in 2016 are reaching the 9.5 million tons target because of a jump both in terms of quantity and value in November while December’s export total should reach 800,000 tons, Thai News Agency quoted Thai Rice Exporters Association as saying today (Dec 29).
Thailand exported as much as 1,008,622 tons of rice worth 15.696 billion baht in November with this being an increase of 18.7% over the previous month while the total value was 22.8% higher.
Compared to November 2015, November 2016’s rice exports were 32.1% higher with the total value also rising by 24.8%. This is because rice was shipped out to China’s COFCO as well as other countries such as Malaysia, Japan, the Philippines while more was also sent to African countries.
The association expects rice exports in December to reach 800,00 tons with this pulling up 2016’s total to the target of 9.5 million tons. Rice exports is climbing in December because of consistent exports of various types of rice to African buyers while there is also steady demand for seasonal jasmine rice by those who prefer new season’s output.
Prices staying steady
Rice prices are currently staying stable with only Vietnam having reduced prices to attract buyers after its exports dropped.
Quoting Riceonline.com, the association mentioned that yesterday (Dec 28) Vietnam was selling 5% white rice as 337 US dollars a ton (FOB) while India and Pakistan were both selling it at 355 dollars a ton (FOB). However the price the association announced yesterday for this grade of rice was 370 dollars a ton (FOB).
Top: A farmer working hard in his paddy field. Photo: Killy Ridols (CC-BY-SA-2.0)