China rice imports set to soar
Thailand expects rice exports to Hong Kong and China, especially riceberry and brown rice, to increase this year thanks to the global economic recovery and a preference for high-quality rice.
Thailand also wants to establish a distribution centre in Shenzhen.
Following a meeting with Kenneth Chan, chairman of the Rice Merchants’ Association of Hong Kong, and an executive from China Merchants Godown, Wharf & Transportation Co, Commerce Minister Phumtham Wechayachai said Thailand has an R&D policy to develop rice quality tailored to the needs of every customer group, as well as maintaining standards so Thai rice can compete in the world market.
This year Hong Kong is projected to import roughly 180,000 tonnes of rice from Thailand, up from 150,000 tonnes last year, most of which will be Thai jasmine rice.
During March 8-9, Mr Phumtham met with importers of Thai jasmine rice and
expressed an interest in establishing a distribution centre in Shenzhen.
The Commerce Ministry is ready to provide support in negotiations with the Chinese government about land leasing, with further discussions planned with Prime Minister Srettha Thavisin about the planned project.
Hong Kong is Thailand’s third-largest export market for Thai jasmine rice,
following the US and China.
Last year, Hong Kong imported 257,200 tonnes of rice, with 148,500 tonnes
(57.7%) coming from Thailand, 60,100 tonnes (23.4%) from Vietnam, and
21,200 tonnes (8.2%) from China.
The Rice Merchants’ Association of Hong Kong confirmed it would continue to import rice from Thailand as it has confidence in the quality and standards of Thai rice.
Mr Phumtham visited the jasmine rice storage facility in Hong Kong and
found it has high standards and can maintain the quality of Thai rice.
With limited space and high humidity, rice importers must rent a vertical rice
warehouse with temperature and humidity controls to maintain the quality and
aroma of Thai jasmine rice.
The association was established in 1919 to manage the import and distribution of rice in Hong Kong, with current members totalling 50.
Mr Chan said Hong Kong rice importers have good relations with the Thai Rice Exporters Association, with an annual trade mission strengthening the relationship.
Rice is a staple food in Hong Kong and is scheduled as a reserved commodity, in which the government operates a rice control scheme to ensure an appropriate price and sufficient supply for consumption.
There are 238 registered rice importers and 142 storage facilities in Hong Kong.
The Thai government set a 2024 rice export target of 7.5 million tonnes, in
line with strong demand.
In related news, on March 25 Zhou Dong, chief executive of Sinopec in
China, is scheduled to visit Thailand and explore trade and investment
opportunities between the two countries, as well as sign a memorandum of
understanding with the International Trade Promotion Department to support
trade and investment.
Sinopec has 30,000 petrol stations nationwide, with up to 20,000
convenience stores attached to them.
Source Link : https://www.bangkokpost.com/business/general/2757508/china-rice-imports-set-to-soar
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