Private sector believes rice prices will stay high in second half of 2018

The Thai Rice Exporters Association is optimistic that prices of Thai rice will remain high throughout the second half of this year.

President of the Thai Rice Exporters Association Pol Lt Charoen Laothamatas said this week that Hom Mali rice is now sold at 1,250 US dollars per ton on the global market, the highest mark in history, due mainly to high demand and this year’s low output.

White rice is sold at 430-435 dollars person and has become very popular among rice-consuming nations.

The president expects Thailand to sell no less than 10 million tons of rice to overseas consumers this year, while advising the producers to grow the types of rice that are in high demand in order to stay competitive.

Thailand’s main competitors are India and Vietnam.

Despite the positive outlook, he said there remain two risk factors that could potentially hamper Thai rice exports which are increasing fuel prices and the strengthening of the Thai baht, especially the latter which Pol Lt Charoen believes could see Thailand miss the 10 million tons target.

An ideal rate is 33 baht per 1 US dollar, according to the president.

Information and Source
Reporter : Thammarat Thadaphrom
Rewriter : Rodney McNeil
National News Bureau & Public Relations

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