Thailand Rice Exports To Cross 9 Mil MT Mark

According to the latest analysis complied by Thailand's Rice Exporters Association, Thailand's rice exports in 2007 are estimated to reach at least 9.4 million MT beating the government's original target of 8.5 million MT.

The surge in the overseas market after major export rivals like Vietnam and India, suspended their sales amid tight supplies have helped Thailand consolidate its exports.

Currently Thai 100% grade B is offered at $380 PMT, FOB and jasmine fragrant rice is at $663 PMT, FOB.

The top buyers of Thai rice in 2007 are expected to be Nigeria, Senegal, Indonesia, South Africa and Iran, the association said. Thailand, which is the world's largest rice exporter, exported 7.5 million MT of rice in 2006.