63 billion baht worth of rice and tapioca deals expected from match-making event

The Ministry of Commerce is holding a trade match-making event from Sunday until Wednesday during which Thai exporters of rice and tapioca can meet with their potential buyers from abroad to discuss trade deals.

Commerce Minister Apiradee Tantraporn said Monday that about 300 potential buyers from abroad are attending the event. 73 Thai rice exporting companies and 39 tapioca exporting firms have participated, she added.

The minister expected that, at the end of the event, US$ 1.8 billion or 63 billion baht worth of deals of the two farm produce would be inked between the two sides � including $806 million worth of rice deals and $1,005 million worth of tapioca deals.

The deal makings will result in the increase of deliveries of rice and tapioca for the months of November and December, said the minister, adding that she is optimistic that the 9.5 million tonnes of rice export target will be achieved.

She disclosed that five MoUs have already been inked � one for 10,000 tonnes of Hom Mali rice between Siam Diamond Export Rice Company and OEC International Holding of Hong Kong; 600 tonnes of Riceberry rice between Riceland Food and Dah Chong Hong of Hong Kong and 800,000 tonnes of tapioca deal between PR Intertrade and Fu Lai Chun Group of China.

According to the Commerce Ministry, 6.85 million tonnes of rice worth $3.08 billion have been exported for the first nine months of this year, representing 4.4 percent droop compared to the same period latyer.

During the same period, 8.12 million tonnes of tapioca worth $2.17 billion were exported, representing 20 percent short of last year’s export.

Source: Thai Public Broadcasting Service (Thai PBS)

Post Author: thailandmirror.com