Thailand to increase rice export to Mexico

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BANGKOK,(NNT) – The Ministry of Commerce is determined to increase the export of Thai rice to Mexico by 10,000 tons before the end of this year.

Thailand News 17-03-17 2 NNT Thailand to increase rice export to Mexico.

According to Commerce Minister Aphiradee Tantraporn, The federal government of Mexico has given its rice importers a privilege to import a total of 150,000 tons of rice without having to pay import duties this year.

To qualify for tax exemption, each domestic company must import fewer or equivalent to 10,000 tons of rice. Aphiradee said it was seen as an attempt to lower prices of rice in Mexico and cater to domestic demand.

Thailand is among rice exporters Mexican importers are to order the grains from. Out of all rice varieties in Thailand, only the long-grain rice has been chosen by the Mexican government.

The Ministry of Commerce is going to ask Mexican importers to buy Thai long grain rice so as to increase the popularity of Thai rice in other Latin American nations. In addition to the long-grain rice, jasmine rice has been marketed at 37 Costco retail stores across Mexico through a rice market expansion program.

Mexico is the fourth largest importer of Thai rice after the United States, Uruguay, and Argentina. In 2016, around 7,000 tons of rice was exported to Mexico, a 50% decrease from a year before. Aphiradee attributed the decline to higher logistics costs and tariffs.