Thailand inks deal to sell rice to China

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BANGKOK, 20 November 2013 Thailand has signed an agreement to sell 1.2 million tons of Thai rice and other agricultural produce to China, with the delivery to be made in December. 

Commerce Minister Niwatthamrong Boonsongpaisal said the ministry inked the deal with two Chinese state enterprises on Wednesday. China has agreed to buy 1.2 million tons of rice and 90,000 tons of cassava while the delivery of all produce is expected to be completed next month.

The deal was announced in September under a government-to-government basis following Mr Niwatthamrong’s visit to the People’s Republic of China.

During the past two years, China has become the world’s biggest importer of agricultural products, as the country is set to feed its growing population. China aims to build a rice stock by importing around 3 million tons of rice per year.

The Commerce Minister revealed that Thailand is poised to become China’s agricultural hub in ASEAN ahead of the region’s integration in 2015.