Thai rice exports seen rising

Thai rice exports seen rising

BANGKOK (DPA): Thailand's rice exports should exceed 5.5 million tons of rice this year because of higher demand from countries such as Indonesia and the declining stocks in competing countries, industry sources said Monday.

"At first the government set an export target of 5.3 million tons for this year because of lower demand and reduced orders but prospects for the second half of 1999 have improved," said Somboon Pathaicharn, manager of the Thai Rice Exporters Association.

During the first six months of 1999, Thailand exported 2.83 million tons of rice, earning US$833 million, compared to 3.31 tons worth $1.04 billion during the same period in 1998.

Thai rice is more expensive than similar grade exports from Vietnam and India, two of the kingdom's main competitors.

Indonesia, which imported more than 550,000 tons of Thai rice between January-July this year, is expected to order another 200,000 tons by year-end, said Somboon.