BANGKOK – Thailand and China have signed rice and rubber purchasing agreements bound by another bilateral deal on agricultural trade.
The rice agreement was signed between Commerce Minister Apiradi Tantraporn and Chinese company, COFCO Limited, for the purchase of one million tons of rice.
Meanwhile, the Rubber Authority of Thailand and another Chinese company, SINOCHEM, have agreed on the purchase of 200,000 tons of rubber. Both Chinese companies were selected to represent the country’s government in these agreements.
Thailand will deliver rice and rubber to China over a period of one year, starting this month.
Around 100,000 tons of rice will be exported each month and sold to China at global market prices. Ms. Aphiradee said the deal will also ensure long-term demand for Thai rice.