Rice deal with China explained


BANGKOK, 16 Oct 2013, The Commerce Ministry has disclosed that China has agreed to purchase Thailand’s agricultural products next month. 

According to Deputy Prime Minister and Commerce Minister Niwatthamrong Boonsongpaisan, China has agreed to order one million tons of rice a year from Thailand for five executive years, up from the one-shot deal of one million tons.

In addition, China would place orders for several of the kingdom’s finest agricultural products, including rice, para rubber, cassava and sugar. The Commerce Minister also ensured the public that Thailand would sell the goods based on global prices in its deals with China.

Meanwhile, Prime Minister Yingluck Shinawatra revealed that the barter deal with China, trading the kingdom’s agricultural products with Chinese locomotive parts, has been inked, assigning the Commerce Ministry to discuss the details with China.

The premier reassured the public that the barter deal would tighten relations between the 2 countries.