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Thai finance minister says country has enough rice stocks, won't cut exports
Published in Saudi Press Agency on 25 - 04 - 2008


Thailand has enough rice stocks to meet
all its export commitments despite talk of a shortage of
the grain in the global market, the country's finance
minister said Friday, according to AP.
«We have enough stocks of rice and we're not going to
decrease the amount of rice exports,» Surapong Suebwonglee
told Dow Jones Newswires on the sidelines of a Thai
investment roadshow in Singapore.
Speaking separately on the sidelines at the same event,
Samran Bhuanantanondh, senior adviser to the Thai Finance
Minister, said Thailand's Department of Foreign Trade could
bid next month when the Philippines tenders for up to
675,000 metric tons of rice.
Thai rice exporters have speculated the department might
not participate in the May 5 tender because of low stocks
within the country. That would leaving Vietnam as the only
significant bidder. Only government or
government-guaranteed suppliers will be eligible to make
offers in the Philippine tender.
«Our stocks are fine. If the price is right, we will
participate (in the tender),» Samran said.
Thai authorities have said there are no plans to restrict
the country's rice exports. Thailand produces about 22
million tons of milled rice annually and exports about 10
million tons.
World rice prices have risen sharply this year because of
growing demand and poor weather in some rice-producing
countries. Some Asian countries, including India and
Vietnam, recently suspended rice exports to guarantee their
own supplies.


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