Thai rice export to RI surge

Thai rice export to RI surge

BANGKOK (Dow Jones): Thailand's rice exports to Indonesia during the period January to June 1998 totaled 969,300 metric tons, up 454 percent from 175,000 tons in the same period last year, according to a Department of Foreign Trade report.

Rice exports by value in the first six months totaled 10.6 billion baht, up 677 percent from 1.4 billion baht in the same period the previous year. The rise partly reflects the steep depreciation in the value of the baht since July 1997.

Thailand last year exported 513,900 metric tons of rice to Indonesia, valued at 4.3 billion baht.

Indonesia last year was Thailand's second largest export market for rice after Nigeria. However, the El Nio weather phenomenon and wildfire damage to 450,000 hectares of Indonesia's domestic rice plantation area reduced Indonesia rice production, according to the report.