According to the reliable sources it has been reported that Thai rice exporters have signed a 120 million US-dollar deal with seven rice importers from Hong Kong. In this regard, the Commerce Minister Mr Apiradi Tantraporn traveled to Hong Kong with a group of Thai rice manufacturers to strike the deal that will see a total of 150,000 tons of rice to be exported to the island administration accordingly.
Further, it has also been revealed that this deal puts the Ministry of Commerce on track to achieve its target of doubling trade volume to 300,000 tons of rice to Hong Kong .It has been mentioned that Thailand has already exported 33,000 tons of rice worth 28 million dollars within the first two months of this year. In this matter, the Ministry also expects that the Thai rice exports may decline globally from 10 million tons of last year to 9.5 million tons this year, due to drought crisis. Furthermore, the government will explore additional markets to ensure Thailand to maintain its market share.