Bangkok Post
A price war on rice exports between Thailand and Vietnam is unlikely next year following the signing of an agreement Thursday, and because of Vietnam’s current production problems due to flood and infestation.
Truong Thanh Phong, president of the Vietnam Food Association in Bangkok, said rice exports from Vietnam were currently banned to ensure national food security amid a plague of brown plant hoppers, as well as to stabilize the market price.
The ban was likely to be extended until January if the Vietnamese government failed to solve the insect problem, said Truong, who was in Bangkok Thursday to attend a Thai-Vietnam Rice Trade Co-operation meeting.
Due to the plague, Vietnam was likely to export about 4.7 million tons of rice this year, down from an original target of five million tons, he said.
Truong signed an agreement on rice trade co-operation with the Rice Exporters Association of Thailand Thursday.
According to him, the Vietnamese government had agreed to raise its rice price on a gradual basis to keep it in line with Thai price levels.
Currently, the price of Vietnamese white rice is US$10-15 per ton lower than that of Thai rice, compared with $40-50 per ton in the past few months.
The ''working record'' signed yesterday follows up on a previous agreement between the two associations, reached at a meeting on July 21 in Ho Chi Minh City, when the two parties agreed to meet on a quarterly basis.
The next Thailand-Vietnam Rice Trade Co-operation meeting will be held in Vietnam in March.
According to Chookiat Ophaswongse, president of the Rice Exporters Association of Thailand, the agreement outlined information exchange between the two countries, a non-GMO production policy, and the possibility of new regulations for foreign investment in the rice business.
Chookiat said that given production problems in Vietnam, Thai rice exports would be promising next year, as global demand was expected to increase from 28 million tons this year to 29-30 million tons next year.
Thailand is expected to ship at least 8.5 million tons of rice next year, from about 7.2 million tons this year, with an export value of not less than 100 billion bath ($2.73 million).
In a related development, Nguyen Dand Chi, deputy director-general of the Export-Import Department of Vietnam, said that Vietnam had no plan as yet to increase paddy imports from Cambodia.
Under an agreement between the two countries, Vietnam would import 200,000 tons of paddy from Cambodia or about 100,000 tons of mostly white rice.
Truong Thanh Phong, president of the Vietnam Food Association in Bangkok, said rice exports from Vietnam were currently banned to ensure national food security amid a plague of brown plant hoppers, as well as to stabilize the market price.
The ban was likely to be extended until January if the Vietnamese government failed to solve the insect problem, said Truong, who was in Bangkok Thursday to attend a Thai-Vietnam Rice Trade Co-operation meeting.
Due to the plague, Vietnam was likely to export about 4.7 million tons of rice this year, down from an original target of five million tons, he said.
Truong signed an agreement on rice trade co-operation with the Rice Exporters Association of Thailand Thursday.
According to him, the Vietnamese government had agreed to raise its rice price on a gradual basis to keep it in line with Thai price levels.
Currently, the price of Vietnamese white rice is US$10-15 per ton lower than that of Thai rice, compared with $40-50 per ton in the past few months.
The ''working record'' signed yesterday follows up on a previous agreement between the two associations, reached at a meeting on July 21 in Ho Chi Minh City, when the two parties agreed to meet on a quarterly basis.
The next Thailand-Vietnam Rice Trade Co-operation meeting will be held in Vietnam in March.
According to Chookiat Ophaswongse, president of the Rice Exporters Association of Thailand, the agreement outlined information exchange between the two countries, a non-GMO production policy, and the possibility of new regulations for foreign investment in the rice business.
Chookiat said that given production problems in Vietnam, Thai rice exports would be promising next year, as global demand was expected to increase from 28 million tons this year to 29-30 million tons next year.
Thailand is expected to ship at least 8.5 million tons of rice next year, from about 7.2 million tons this year, with an export value of not less than 100 billion bath ($2.73 million).
In a related development, Nguyen Dand Chi, deputy director-general of the Export-Import Department of Vietnam, said that Vietnam had no plan as yet to increase paddy imports from Cambodia.
Under an agreement between the two countries, Vietnam would import 200,000 tons of paddy from Cambodia or about 100,000 tons of mostly white rice.
1 comment:
Nice moves Thais folk, you're clever and concern for your citizens is a plus.
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