Thai rice export well short from target
The Commerce Ministry may review the full-year rice export target in the fourth quarter, following the lower-than-expected export figures in the first eight months.
Thikamporn Nartvoratat, deputy director general of the Foreign Trade Department, said that it remains to be seen whether the situation will pick up in the fourth quarter.
In the first eight months, Thailand exported 4.2 million tonnes of rice, which is less than 50 per cent of the full-year target of 8.5 million tonnes. The export value was US$2.9 billion, far from the $5.7 billion target. On average, the rice was sold at US$678 per tonne.
Thikamporn admitted that Thailandâ€™s rice export volume has been far behind that of India and Vietnam. However, Thailand remains the No. 1 in terms of value.
He noted that Thailand should lift the rice quality to further push up the price.
As global output rises, Thailand may find difficulties in selling Hom Mali rice despite orders from Japan and Iraq.