Today's headline
Thailand Has Enough Rice, Won't Cut Exports
By ASSOCIATED PRESS / SINGAPORE
Friday, April 25, 2008
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Thailand has enough rice stocks to meet all its export commitments despite talk of shortages of on the global market, the Thai finance minister said on Friday.
"We have enough stocks of rice and we're not going to decrease the amount of rice exports," Surapong Suebwonglee told Dow Jones Newswires on the sidelines of a Thai investment road show in Singapore.
Speaking separately on the sidelines at the same event, Samran Bhuanantanondh, senior adviser to the Thai Finance Minister, said Thailand's Department of Foreign Trade could bid next month when the Philippines tenders for up to 675,000 metric tons of rice.
Thai rice exporters have speculated the department might not participate in the May 5 tender because of low stocks within the country. That would leave Vietnam as the only significant bidder. Only government or government-guaranteed suppliers will be eligible to make offers in the Philippine tender.
"Our stocks are fine. If the price is right, we will participate (in the tender)," Samran said.
Thai authorities have said there are no plans to restrict the country's rice exports.
Thailand produces about 22 million tons of milled rice annually and exports about 10 million tons.
World rice prices have risen sharply this year because of growing demand and poor weather in some rice-producing countries. Some Asian countries, including India and Vietnam, recently suspended rice exports to guarantee their own supplies.
"We have enough stocks of rice and we're not going to decrease the amount of rice exports," Surapong Suebwonglee told Dow Jones Newswires on the sidelines of a Thai investment road show in Singapore.
Speaking separately on the sidelines at the same event, Samran Bhuanantanondh, senior adviser to the Thai Finance Minister, said Thailand's Department of Foreign Trade could bid next month when the Philippines tenders for up to 675,000 metric tons of rice.
Thai rice exporters have speculated the department might not participate in the May 5 tender because of low stocks within the country. That would leave Vietnam as the only significant bidder. Only government or government-guaranteed suppliers will be eligible to make offers in the Philippine tender.
"Our stocks are fine. If the price is right, we will participate (in the tender)," Samran said.
Thai authorities have said there are no plans to restrict the country's rice exports.
Thailand produces about 22 million tons of milled rice annually and exports about 10 million tons.
World rice prices have risen sharply this year because of growing demand and poor weather in some rice-producing countries. Some Asian countries, including India and Vietnam, recently suspended rice exports to guarantee their own supplies.
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