China to buy first 100,000 tons of rice via G2G deal with Thai govt

12.10.2016

Commerce Minister Apiradee Tantaraporn said China already agreed to buy 100,000 tons of Thai rice via a government-to-government (G2G) deal.

According to the Commerce Minister, the Thai government struck a G2G deal with China last year. Under the agreement, China will purchase a total of 1 million tons of rice from Thailand. Ten purchases will be made by the Chinese government and each purchase will be 100,000 tons.

The G2G rice deal requires both countries to settle on the selling price before each purchase. The Chinese government agreed to buy the first batch of 100,000 tons earlier this week. The rice is scheduled to be imported to China no later than next month.

Mrs. Apiradee said she was pleased with the prices of rice sold to China which were reasonable compared to prices of rice in other rice-exporting countries namely Vietnam and Pakistan. She added prices of unrefined rice grains in Thailand are expected to rise as demand from overseas increases.

Marketing and public relations plans have also been put in place to boost rice exports especially at the beginning of the growing season. Thailand is expected to send representatives to countries including ASEAN, China, Singapore and Germany to name a few to promote Thai rice.

Another G2G deal with the Philippines is also expected to take place at the end of this year. Mrs. Apiradee is confident that Thailand will be able to achieve its rice export goal of 9.5 million tons this year.


thaivisa
 

Readers choice: TOP-5 articles of the month by UkrAgroConsult