According to its director general Ronnarong Phoolpipat, the Department of Foreign Trade is leading efforts to increase Thai jasmine rice sales in China and the Hong Kong Special Administrative Region (SAR). According to Ronnarong, discussions are taking place to address the trade obstacles in the two markets.
Exports of Thai Rice
He predicted that this year's Thai jasmine rice exports will exceed 8 million metric tonnes (MMT). Each year, Thailand exports 600,000 to 700,000 tonnes of rice to China, mostly Thai jasmine and white rice. Even more rice is imported by Hong Kong. An average of 1.7 MMT to 1.8 MMT of Thai rice are exported to the SAR each year, of which 70–80% is Thai jasmine rice.
According to Ronnarong, Hong Kong is one of the top three importers of Thai jasmine rice, and Thai rice holds a 60% share in Hong Kong’s rice markets.
Efforts To Strengthen Rice Trade
The Department of Foreign Trade is stepping up efforts to improve trade relations, foster trust, and expand markets for Thai jasmine rice and cassava.
Thai rice exporters are in discussions with the Hong Kong Department of Commerce and Industry about issues like inventory control, product origin, trade laws, and export permits. In addition, steps have been taken to put free trade agreements into effect and enforce them.
The Thai government's assistance and cooperation in joining the Regional Comprehensive Economic Partnership, which fosters and grows trade between Hong Kong and member nations, was shown appreciation by the Department of Commerce and Industry of Hong Kong. Hong Kong, as a tax-free city, serves as a distribution hub for goods throughout China.
The discovery of a case involving a factory in China falsely claiming Thai jasmine rice as its own and selling it in the Chinese market led to meetings being held with Chinese government agencies and private organizations in Beijing.
The factory was swiftly shut down by Chinese authorities, who also started legal action. Both parties concur that it is essential to take immediate action against fake goods, exaggerated claims about Thai jasmine rice, and the falsification of certifications and marks.
Additionally, the Department of Foreign Trade intends to meet and develop trade ties with significant international partners by sending representatives from the public and private sectors. Representatives from Thailand will visit the Philippines in July, followed by visits to Malaysia, Indonesia, Singapore, and Japan in August.
If you are a rice importer wishing to buy rice in bulk or a Rice Exporter willing to export bulk rice, then Tradologie.com is the right platform for you.
Tradologie is a transaction oriented platform that facilitates bulk agro-commodities trade completely from enquiry-to-delivery in a digital manner. The best quality and inspected commodities can be procured at prices which can be directly negotiated with the sellers, thereby giving more margins for both sellers and buyers along with the end consumers, reducing the overall cost of trade. This platform hence grants sellers better access to new global buyers, increasing their overall business orders and profits, as there are no middlemen involved in the trade here.
To register as a seller, click here. To register as a buyer, click here.
To stay updated with the latest happenings in the agro-trade industry, followTradologie.com across all social media channels.
