{"id":6425,"date":"2023-08-08T07:41:04","date_gmt":"2023-08-08T07:41:04","guid":{"rendered":"https:\/\/ricenewstoday.com\/dev\/?p=6425"},"modified":"2023-08-08T07:41:24","modified_gmt":"2023-08-08T07:41:24","slug":"thailands-rice-exports-benefiting-from-indias-export-ban-minister-2","status":"publish","type":"post","link":"https:\/\/ricenewstoday.com\/dev\/thailands-rice-exports-benefiting-from-indias-export-ban-minister-2\/","title":{"rendered":"Thailand\u2019s rice exports benefiting from India\u2019s export ban \u2013 minister"},"content":{"rendered":"\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" width=\"120\" height=\"100\" src=\"https:\/\/ricenewstoday.com\/dev\/wp-content\/uploads\/2023\/08\/image-48.png\" alt=\"\" class=\"wp-image-6426\"\/><\/figure>\n\n\n\n<p>Thailand is benefiting from India\u2019s rice export ban and has no reason to halt its own shipments as it has sufficient output for exports and domestic consumption, its commerce minister said on Monday.<\/p>\n\n\n\n<p>India in late July ordered a halt to its largest rice export category in a move that will roughly halve shipments by the world\u2019s largest exporter of the grain, triggering fears of further inflation on global food markets.<\/p>\n\n\n\n<p>The Indian ban provides an opportunity for Thai rice producers, especially in Africa which consumes large volumes of rice from India, minister Jurin Laksanawisit told a press briefing.<\/p>\n\n\n\n<p>\u201cWith India\u2019s export ban, global prices rise as volumes drop \u2026 farmers can sell paddy rice at higher prices,\u201d he said.<\/p>\n\n\n\n<p>But global prices are volatile and the government will closely monitor the situation, he added.<\/p>\n\n\n\n<p>Thailand, the world\u2019s second-largest rice exporter, is expected to export more than 8 million metric tons of rice this year, Charoen Laothamatas, president of the Thai Rice Exporters Association, told the briefing.<\/p>\n\n\n\n<p>In the first seven months, Thailand shipped 4.8 million metric tons, he said, with monthly exports of 700,000 to 800,000 tons. Last year\u2019s rice exports were 7.71 million tons.<\/p>\n\n\n\n<p>\u201cThe world market is very turbulent because of speculation in every market, affecting countries that do not have stocks in hand,\u201d he said.<\/p>\n\n\n\n<p>Thai rice export prices might increase by 20% after the Indian ban, Charoen said.<\/p>\n\n\n\n<p>Exporters were reluctant to quote prices while waiting for more clarity and were likely to halt shipments for a time, said Chookiat Ophaswongse, honorary president of the Thai Rice Exporters Association.<\/p>\n\n\n\n<p>\u201cNow we\u2019re worried about old contracts with delivery over the next two or three weeks as prices are quite volatile,\u201d he said. \u201cBut this should be a temporary event, until there is more clarity from India.\u201d<\/p>\n\n\n\n<p>Two trade sources said last week that some rice exporters in Thailand and Vietnam were re-negotiating sales contracts for around half a million metric tons for August shipment.<\/p>\n\n\n\n<p>The government would also ensure domestic rice prices do not rise too high, minister Jurin said, adding that inflation is expected to stay low.<\/p>\n\n\n\n<p>\u201cAs rice exports remain normal, domestic consumption is not affected yet but paddy rice prices are higher, so rice prices must be managed to stay at appropriate levels,\u201d Jurin said.<\/p>\n\n\n\n<p>Paddy prices were currently a record 12,000 baht ($344.43) per metric ton, he said, with paddy output expected to fall by an annual 5.6% to 32.35 million metric tons this year.<br>Source: Reuters (Reporting by Orathai Sriring and Kitiphong Thaichareon and Satawasin Staporncharnchai; Editing by Martin Petty and Kirsten Donovan)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Thailand is benefiting from India\u2019s rice export ban and has no reason to halt its own shipments as it has sufficient output for exports and domestic consumption, its commerce minister said on Monday. India in late July ordered a halt to its largest rice export category in a move that will roughly halve shipments by [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":6426,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[176],"tags":[167,160,159],"class_list":["post-6425","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-indian-rice","tag-rice-export","tag-global-rice-news"],"acf":{"enable_premium_overlay":false},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.0 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Thailand\u2019s rice exports benefiting from India\u2019s export ban \u2013 minister - Rice News Today<\/title>\n<meta name=\"robots\" content=\"noindex, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Thailand\u2019s rice exports benefiting from India\u2019s export ban \u2013 minister - Rice News Today\" \/>\n<meta property=\"og:description\" content=\"Thailand is benefiting from India\u2019s rice export ban and has no reason to halt its own shipments as it has sufficient output for exports and domestic consumption, its commerce minister said on Monday. 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