Commerce Ministry confident Thai rice exports to hit 9.5-million-ton target in 2012

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BANGKOK, 27 July 2012 – The Commerce Ministry is confident that the country’s rice exports will hit the planned target this year.

Permanent Secretary to Commerce Ministry Yanyong Phuangrach revealed on Thursday that Thai rice exporters have expressed worries over the outlook of the business during the remainder of the year, with some fearing that Thailand will lose its top exporter’s position to India and even slip to the number-3 spot after Vietnam.

Mr. Yanyong, however, has assured that Thailand has maintained its top position during the first 5 months of this year.

And despite the fact that Thai rice exports during July 1st and 25th are slightly smaller than India’s, Mr. Yanyong believes Thailand will still be the leader of the industry, especially because the country’s production always exceeds domestic demands and provides surplus supply for exports.

According to the Permanent Secretary to Commerce Ministry, in 2012, Thai rice exports growth is expected at 15-20 percent. He is also confident that the total export volume for this year will end at 9.5 million tons, as planned.