The government vows to sell 7 million tonnes of its rice stocks this year through government-to-government (G2G) deals amid lingering concerns among rice exporters that the mission is impossible.
"The claim this time is as usual deemed impossible, except that the government dares to sell Thai rice at price on par with that of Vietnam, now quoted at US$420 per tonne," said a source from the rice trading industry.
The price of Thai white rice 5% now stands between $550-560 per tonne. Vatchari Vimooktayon, permanent secretary for commerce, yesterday unveiled the ministry's latest rice mission, planning at best to sell 7 million tonnes of rice stocks on top of the 7.33 million tonnes Commerce Minister Boonsong Teriyapirom announced earlier. Last September Mr Boonsong announced that his ministry had concluded six export deals through G2G contracts with Indonesia, the Philippines, China and Ivory Coast.
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