Thai rice exports are expected to increase to 8.5 million tonnes, securing a total value of up to Bt120 billion this year, Rice Exporters Association president Chukiart Ophatwong said on Wednesday. Given the speculated increase in the world market's demands for Thai rice throughout 2007, about 8.5 milliion MT are expected to feed a number of countries including the Middle East, Indonesia, the Philippines, Hong Kong, Singapore, Malaysia and China.
China, which has become the biggest importer of Hom Mali ("jasmine") rice from Thailand, is expected to pay up to US$ 600 for each tonne of the premium Thai rice, Mr. Chukiart said. Thailand will likely produce more rice for export, given its favourable climate, sufficient rainfall and anti-drought measures in the rice-growing areas, he said.
However, the rice exporters association chief cautioned, a stronger baht would adversely affect Thailand's rice export industry, should it rise against the US dollar from its current 35 baht level.
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