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Thailand Inventing New Ways To Retain Top Exporter Status

BANGKOK --The Ministry of Agriculture and Cooperatives last week approved a new strategy aimed at retaining Thailand's status as the world's top rice exporter, an official at the ministry's rice department said Tuesday. The new strategy will seek to improve rice production and marketing by adding value to Thai rice through stepping up rice research, developing new rice varieties, creating new rice-related products such as rice-based drugs, food supplements, cosmetics and instant foods, the official said. Vietnam, the world's second largest rice exporter, benefits from cheaper labor and lower investment costs. According to Supachai, the strategy aims to lift Thailand's rice yield to 529 kilograms per rai over the next five years, from 410 kilograms per rai currently. One rai is equivalent to 0.16 hectares. The Thai government has also stepped up its efforts to expand Thai rice markets by sending trade delegations to new buyers such as Senegal, Ghana, Tunisia, the United Arab Emirates and China. These markets are confident in the quality and standards of Thai rice and most of them have increased their rice imports from Thailand. Thailand aims to achieve its 2007 rice export target of 8.5 million tons with a total value of $2.6 billion, up from 7.5 million tons with a total value of $2 billion in 2006. In the Jan. 1 to July 31 period, Thailand's rice exports rose by 9.8% on year to 4.69 million tons, according to the Commerce Ministry's Department of Foreign Trade. (Dow Jones)

 

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