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Rice exports expected to be on track as harvest approaches

BANGKOK (The Nation/Asia News Network): Thailand’s rice exporters are expected to reap the rewards of India’s ongoing ban on the exports of all rice except basmati, which is anticipated to last until at least early next year, the annual meeting of the Thai Rice Mill Association has concluded.

Speaking after the meeting, the association’s president Rangsan Sabaimuang said members had reported on the production and market situation before the upcoming rice harvest in the next 1-2 months and concluded that this would remain stable, although a slight decrease in the production of jasmine rice in the central region was expected due to the drought and the effects of the El Niño phenomenon.

In the northeastern region, where jasmine rice and glutinous rice are primarily grown, the overall rainfall has been good, and the production is expected to be normal.

However, the price situation is contingent on the government’s decision as to whether the approval of delayed export credit projects will be granted.

This approval is considered positive because simultaneous harvesting by farmers could cause price fluctuations.

Despite some financial institutions limiting credit to rice mills, the members of the Thai Rice Mill Association have confirmed their readiness to purchase rice from farmers in the upcoming harvest season.

Rangsan added that the association had invited Natthakit Khongthip, director general of the Rice Department, to give a presentation on “Current Rice Varieties in Thailand” to the meeting.

He told members that the development process of rice varieties, along with the availability of tools and equipment, had improved, leading to a shorter time frame for developing new varieties.

The future concept for rice variety development is to tailor them to specific regions, promoting a “zone-specific cultivation” to meet the needs of farmers. The association has also proposed that the Department of Rice Development ensures that the physical differences between rice varieties are easily distinguishable.

https://www.thestar.com.my/aseanplus/aseanplus-news/2023/10/16/rice-exports-expected-to-be-on-track-as-harvest-approaches QR Code

Published Date: October 16, 2023

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