Bangkok: 'Thailand Rice Convention 2025' is set to generate orders for Thai rice reaching 100,000 tons, bringing in over 2 billion baht in revenue, as buyers and importers from around the world connect with Thailand. Mr. Pichai Naripthaphan, the Minister of Commerce, expressed confidence in Thailand's ability to maintain its presence in the US rice market despite a 10% tariff, with dry-season rice prices at 1,000 baht per rai, pending verification of registrants' qualifications.
According to Thai News Agency, Mr. Pichai presided over the opening of the 10th Thailand Rice Convention (TRC) 2025, highlighting the Thai government's commitment to upgrading the rice industry under the leadership of Prime Minister Paethongtarn Shinawatra. The government's policy of 'Market-led, Innovation-enhanced, Increased Income' aims to enhance the agricultural sector through technology and innovation, promoting food security and expanding trade opportunities, particularly in Halal food. The TRC event, organized by the Ministry of Commerce and the Department of Foreign Trade, serves as a platform for exporters, importers, and representatives of Thai farmers to exchange information under the theme 'Global Rice from Thai Legacy.'
Mr. Pichai stated that the event offers an opportunity for building networks and negotiating business trade between Thai rice exporters and importers. The Minister anticipates purchase orders of at least 100,000 tons, contributing to a rice trading target of 7.5 million tons in exports by 2025. The Department of Foreign Trade is tasked with monitoring the global rice market amid geopolitical tensions to ensure readiness as a global food source.
While Thai specialty rice like jasmine and riceberry remains stable in price, challenges persist with white rice pricing due to India's low-cost exports. The Ministry of Commerce is implementing measures to assist farmers, including reducing fertilizer costs. Despite a potential 10% tariff in the US market, Thailand aims to maintain its export volumes of jasmine rice, with exports reaching 800,000-900,000 tons in 2024.
Trade negotiations with the US continue, with praise from the US Treasury Secretary for Thailand's approach. Mr. Pichai Chunhavajira, Deputy Prime Minister and Minister of Finance, is expected to schedule further negotiations.
Efforts to support farmers with 1,000 baht per rai payments for second-crop rice in 2025 are underway, with the Ministry of Agriculture and Cooperatives reviewing registrants' qualifications. The National Rice Policy and Administration Committee (NRAC) will approve the summarized results.
Ms. Arada Fuangthong, Director-General of the Department of Foreign Trade, noted the return of TRC 2025 after a six-year hiatus. The event, featuring over 500 participants from more than 30 countries, focuses on sustainable rice production and marketing. The design of the event emphasizes quality standards, sustainability, and Thai cultural heritage, reinforcing Thailand's position as a leader in 'world-class quality rice' ready to meet global market demands.