Competition in domestic packed rice will be much fiercer this year after a plunge in rice exports, prompting one giant player, C.P. Intertrade Co, to target sales of 580,000 tonnes of packed rice at a value of 15 billion baht.
When combined with its target export of 700,000 tonnes worth more than 20 billion baht and sales of unpacked rice to local traders, the company expects total trade of 1.4 million tonnes of rice for revenue of 40 billion baht, according to CEO Sumeth Laomoraphorn.
C.P. Intertrade's exports are seen growing 17% this year while domestic sales rise 92%.
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