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Published on March 12, 2008

The company expects the revenue record despite the baht's appreciation.

CP Intertrade generated about Bt6 billion last year, with about 60 per cent from exports.

President Sumeth Laomoraphorn said it was expecting many orders this year, which would drive the company's income up to Bt10 billion for the first time. The firm will focus on promoting rice exports to new markets, including the Middle East and Africa.

Climate-change problems affecting production around the world are increasing rice prices gradually, he said. White rice - worth US$578 to $580 (Bt18,200 to Bt18,300) per tonne - is expected to reach $600 to $700 this year. Jasmine rice is expected to reach $800 to $900 from its current level of Bt650 to Bt700.

He said CP Intertrade was trying to manage currency losses by accepting only orders one month in advance.

Sumeth called on the government to release its stockpiles of 2.1 million tonnes to cool the price heat in the domestic market.

Petchanet Pratruangkrai

The Nation