DJ Thai Rice Exports Likely To Reach 9 Million Tons In 2007

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Tự Hào Gentraco

Sat, 19/05/2012 - 8:56 am.

DJ Thai Rice Exports Likely To Reach 9 Million Tons In 2007

BANGKOK (Dow Jones)--Thailand's rice exports are likely to hit 9 million metric tons this year, higher than previously forecast, thanks to continued significant overseas demand, a senior government official said Monday.

"I expect rice exports for the whole year to hit 9 million tons, worth around $3 billion," said Apiradi Tantraporn, director-general of the Department of Foreign Trade.

The Thai government had earlier targeted 8.5 million tons of rice exports this year, exceeding exports of 7.5 million tons in 2006.

According to data from the Department of Foreign Trade, Thailand exported 7.27 million tons of rice from Jan. 1 to Oct. 31, up 18.8% from the same period a year ago.

Rice exports in October alone totaled 1.09 million tons - up 56.2% on year and the highest monthly figure in three years.

"It's very likely rice exports in the remaining months will be close to October's exports, probably around 900,000 tons, given that many existing contracts will be executed, while buyers keep posting new orders," Apiradi said.

Lower exports from rival suppliers India and Vietnam, coupled with an expected increase in import demand from countries such as the Philippines China, Bangladesh, and those in Africa are expected to boost Thai rice exports, she said.

Apiradi said a freight shortage problem that hindered Thai rice export opportunities since early this year has been cleared. China is now taking up less cargo space for shipping materials in preparation for the Olympic Games.