Vietnam outstrips Thailand in rice export price Each tonne of 5% broken white rice from the country was priced US$15 higher in comparison with the same product from Thailand in the world market as of August 8, hovering between US$478 and US$482 per tonne, according to Vietnam Trade Office in Thailand. This decline in the price of Thai rice exports can largely be attributed to the appreciation of their currency, the baht, against the US dollar, which has consequently seen the neighbouring country’s rice export prices lose its competitive advantage over rivals. At present, the free on board, also known as FOB, prices of 5% broken rice from Thailand stands at around US$460 per tonne, US$90 higher than Indian rice and US$ 8 higher than Vietnamese rice. According to the nation’s Trade Office in Thailand, the Thai Government is considering changing policies in rice exports in order to regain the export growth momentum it had in comparison with its competitors such as Vietnam and India. In line with these changes, amended policies will largely focus on speeding up marketing activities, reducing production costs, and researching new rice varieties. Furthermore, the Ministry of Commerce of Thailand will work alongside the Rice… Read full this story
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