Thai rice exporters prices

Rice is on sale at a grocery store in Bangkok, Thailand. (Photo: VNA) Bangkok (VNA) – Thailand’s rice exports in the first six months of this year surged 56.6% to 3.5 million tonnes, bringing in 60.93 billion THB (about 1.7 billion USD) in revenue, or 42.9% more year on year. Agriculture and Cooperatives Minister Chalermchai Sree-on said this is good news for Thai farmers, and this increase in export will help boost the price of rice in the country. Thailand should be able to beat Vietnam and become the world’s second-largest rice exporter if it can ship more than 7 million tonnes of rice this year, he noted. According to statistics of the Thai Rice Exporters Association and Customs Department (TREA), Thailand exported 764,131 tonnes of rice worth 13.12 billion THB in June alone, up 69.4% and 57.1%, respectively, compared to 450,973 tonnes worth 8.35 billion THB in May. Chalermchai expected rice exports of Australia, Myanmar, Cambodia, Europe, Paraguay, … [Read more...] about Thailand could be world’s second-largest rice exporter this year

Vietnam’s rice remains favorite in the international market despite fierce competition. Vietnam exported nearly 4.2 million tons of rice during the first seven months of 2022, representing an increase of over 20% year-on-year, according to the Ministry of Agricultural and Rural Development (MARD). Rice production for exports at Loc Troi Company . Photo: Nguyen Binh “Despite fierce competition, Vietnamese rice products continue to be among the favorites in the international market,” stated the ministry in a report. During the January-July period, Vietnam exported 4.19 million tons of rice for over US$2 billion, an increase of 20.5% year-on-year in volume and 9% in value. Among Vietnam’s major markets, the US recorded the highest growth with an increase of 65.3% in rice imports during the first half, followed by the Philippines with 48.6%. The Philippines remained Vietnam’s largest rice buyer and made up 44.5% of total exports. Rice demands from African … [Read more...] about Vietnam’s rice exports hit a record high

Illustrative photo (Source: VNA) Hanoi (VNA) - Vietnam exported nearly 4.2 million tonnes of rice in the first seven months of 2022, up 20.5% year-on-year, according to the Ministry of Agriculture and Rural Development. But earnings were only 9% higher, at 2 billion USD, since global rice prices have fallen by over 10% to 489 USD a tonne on average. Exports to the US grew fastest at 65.3%, followed by the Philippines, Vietnam 's top market, at 48.6%. Domestic prices also fell as adverse weather affected rice quality and demand was low compared to previous months. Exporters have slowed down purchases from farmers and await the peak harvest season. Vietnam is currently the second biggest rice exporter in the world, just behind India./ VNA … [Read more...] about Vietnam’s rice exports jump 20% in seven months

Local companies could further improve their utilization rate of the trade agreement to gain a larger share of the EU market. The EU-Vietnam Free Trade Agreement has been a driving force for Vietnam’s exports as local firms are now taking good advantage of the trade deal. Processing catfish for export at Cantho. Photo: Hung Thap Deputy Director of the Import-Export Department under the Ministry of Industry and Trade (MoIT) Tran Thanh Hai gave the assessment at a conference on the EVFTA on August 8. In 2021, bilateral trade turnover between Vietnam and the EU rose by 14.5% year-on-year to US$57.01 billion, in which Vietnam exported goods and products worth $40.1 billion, or an increase of 14.2%; and imported $16.9 billion. “This helped the country maintain a trade surplus of over $23.2 billion last year,” Hai said. According to Hai, since the launch of the EVFTA on August 1, 2020, Vietnam’s exports to the EU rose by 15% to $83 billion. Over the past two … [Read more...] about EVFTA drives Vietnam’s exports forward

SINGAPORE/MUMBAI -- Adverse weather across top rice suppliers in Asia, including the biggest exporter India, is threatening to reduce the output of the world's most important food staple and stoke food inflation that is already near record highs. Rice has bucked the trend of rising food prices amid bumper crops and large inventories at exporters over the past two years, even as COVID-19, supply disruptions and more recently the Russia-Ukraine conflict made other grains costlier. But inclement weather in exporting countries in Asia, which accounts for about 90% of the world's rice output, is likely to change the price trajectory, traders and analysts said. "There is an upside potential for rice prices with the possibility of production downgrades in key exporting countries," said Phin Ziebell, agribusiness economist at National Australia Bank. "An increase in rice prices would add to already major challenges for food affordability in parts of the developing world," Ziebell told … [Read more...] about Analysis: Global rice supplies at risk as harsh weather hits top exporters

In the first seven months this year, Vietnam’s total export value to the American market approximated $77 billion, equal 22 per cent jump on-year, in which exports to the US market were a bright spot reaching $66.7 billion, up 23.7 per cent on-year. Earlier, accelerated export of Vietnamese products to this market was a hallmark in 2021 reaching $114 billion in total export value, showing a 27 per cent jump on-year. Vietnam also witnessed a big export surplus with this market reaching approximately $89 billion last year. Exports to the US surpassed $96 billion in 2021, more than $21 billion compared to 2020, placing the US in the pole position among Vietnam’s export markets with export value far exceeding that of other markets such as China, the EU, ASEAN, South Korea, and Japan. Several new markets clinching free trade agreements (FTA) with Vietnam in America such as Canada and Mexico have increased imports from Vietnam. Apart from seafood and apparel, the export … [Read more...] about Exports to the Americas eye strong rebound

Global wheat consumption is headed for its biggest annual decline in decades as record inflation forces consumers and companies to use less and replace the grain with cheaper alternatives, amid growing food insecurity. Consumers may face even higher wheat prices in the second half of 2022 as importers, who until now have supplied cargoes bought several months earlier at cheaper prices, pass on the costs from when wheat prices scaled decade highs in May. Global wheat consumption in July-December could drop by 5%-8% from a year ago, analysts, traders and millers say, much faster than the U.S. Department of Agriculture's forecast 1% contraction. "There is going to be a drop in wheat demand for animal feed in Europe and China. Wheat demand for human consumption has also slowed in key importing countries around the world," said Erin Collier, an economist at UN's Food and Agriculture Organisation. "High prices have raised food security worries in parts of Asia and Africa where … [Read more...] about Analysis: As wheat prices soar, the world’s consumers vote with their feet

The latest figures from Thai Nguyen Department of Statistics showed that the province further secured impressive growth in its industrial production in July, with the local industrial production index surging 9.6 per cent against the previous month and showing a 15 per cent jump on-year. The province is focused on export-oriented production and increasing the number of high-tech products, Photo: Le Toan Notably, the local processing and manufacturing industry rose 10.1 per cent against the previous month and fetched 16 per cent hike on-year. Generally, in the first seven months of this year, Thai Nguyen’s total industrial production index hiked 11.2 per cent on-year compared to 9.81 per cent growth in the previous month, with that of the processing and manufacturing industry rising 12 per cent on-year. During the period, top-performing groups of items were TV cameras with 52.4 million products, soaring 32.9 per cent; earing devices reaching 35.6 million pieces, showing … [Read more...] about Thai Nguyen’s industry continues impressive growth

The Aranyaprathet-Poipet border gate of Thailand and Cambodia (Photo: Asia News) Bangkok (VNA) – Thai businesses have set their sights on expanding trade and investment in Cambodia, especially in processed food, agriculture, tourism, renewable energy, plastic, and gems and jewellery. Sanan Angubolkul, chairman of the Thai Chamber of Commerce (TCC), said Cambodia is seeing average economic growth of 7 – 8% per year as a result of the country opening up to foreign direct investment. Cambodia has been trying to develop its tourism and agricultural sectors, but the country still lacks sufficient knowledge and modern technology, especially in terms of storage and processing in order to increase values. This offers a very good opportunity for Thai businesses to forge joint investment s with Cambodian counterparts in many sectors as above, according to Sanan, who is also chairman of the Board of Trade of Thailand . He led the first post-pandemic visit to Cambodia by more … [Read more...] about Thai businesses eye expanding trade, investment in Cambodia

Beautiful Thai women join the festival. (Photo: VNA) Hanoi (VNA) - The Ap Ho Chieng festival has been reenacted in Phong Tho district of the northern province of Lai Chau since 2014. This is the first year it has formed part of the Then Kin Pang festival. A highlight of the Ap Ho Chieng festival each year is the scene of beautiful women of White Thai ethnic minority group as they wash their hair together on the last day of the Lunar New Year. It was reenacted at Nam Lum spring in Khong Lao commune, Phong Tho district of Lai Chau. For Thai ethnic people in Muong So area in Khong Lao, the festival holds significant meaning in their spiritual lives. It is a unique cultural value reflecting local solidarity and people’s connection with nature. The festival has links to Lady Han who dressed as a man to fight invaders and returned triumphantly on the last day of the Lunar New Year. She and the soldiers rested and washed themselves along the Nam Bo riverbank of Nam Lum spring … [Read more...] about Ap Ho Chieng hair wash festival a Thai ethnic tradition