Thai Charoen Pokphand Unit Planned 07 Rice Exports

Thai rice exporter C.P. Intertrade Co. aims to export 450,000-500,000 metric tons of rice this year, up around 50%-60% from the 300,000 MT exported last year, said company president Sumeth Laomoraphorn in a statement Thursday. 
 
 As well, the company, wholly owned by Charoen Pokphand Group (CP.YY), Thailand's largest business conglomerate, aims to sell a total of 650,000 MT of rice in 2007, up 62.5% from last year due to strong demand. 
 
In the next three to five years, C.P. expects its rice exports to double to 1 million MT, accounting for 15% of Thailand's annual rice exports, the statement said. C.P. also plans to build a new rice mill with an annual production capacity of 1 million MTs, which would be the biggest in the country.
 
  The company expects to sell more to Africa, which accounts for 40% of its exports, and where an growing population is increasing demand. It seeks to set up trading firms with local Africa companies to boost sales,
the statement said. 
 
It also plans to sell more to other export markets such as North America, China and the Middle East. C.P. has a rice trading firm in Nigeria, the world's biggest buyer of parboiled rice, buying 1.5 million to 2.0 million MT a year.
 
  Thailand, the world's biggest rice exporter, exported 7.5 million MT in 2006 and aims to sell 8.5 million MT this year. C.P. was developing a new strain of rice that will better be able to resist disease and drought, yield more output and cut production costs.