Thailand to Export at Least 9 Million Tons of Rice in 2017: Ministry
Bangkok. Thailand expects to sell at least 9 million tons of rice overseas in 2017, the Commerce Ministry said on Thursday (17/11), as the world's second-largest exporter struggles with plummeting prices of the grain.
"For 2017, we expect initially that our rice exports will be no less than 9 million tons," Duangporn Rodphaya, director general of the Foreign Trade Department at the Commerce Ministry, told Reuters.
She said the figure, which would be slightly below the government's 2016 goal, was not yet an official target.
Rice is one of Thailand's main agricultural exports and keeping the country's millions of rice farmers happy is a matter of political survival for the ruling junta.
Thailand exported 6.85 million tons of rice in the first nine months of 2016, the commerce ministry said. Duangporn said the government will meet its full-year target of 9.5 million tons.
The Thai Rice Exporters Association said the ministry's expectation for 2017 matched its own export target.
"I think even 9.5 million tons is possible," said Chookiat Ophaswongse, the association's honorary president.
Falling rice prices have sent Thailand's military government scrambling to roll out rescue packages for farmers.
In recent weeks the government introduced a series of measures to help rice farmers, including new loan schemes worth $514 million.
Thailand's benchmark 5-percent broken rice prices were quoted at $342-$345 a ton on Wednesday, the lowest in 14 months.
But Chookiat said Thai rice prices were improving.
"The worst is over," he said, without elaborating.
Reuters
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