The Honorary President of Thai Rice Export Association, Mr. Chukiat Opaswong revealed that prices of rice worldwide have been increasing due to falling global rice supplies. This is why Thailand has been able to raise the price from 365 dollars to 425 dollars per ton over the past two months. Even though Vietnamese rice is sold at a price 45 dollars cheaper, demand for Thai rice continues to grow especially in Iraq, Iran and African countries, said Mr. Opaswong.
“It is believed that the price of Thai rice would not decline because of the stable demand,” said Mr. Jeremy Swinger, CEO of the Rice Trader Ltd. He expressed his opinion that the price might even go up by another 20 dollars in the next three months. Despite the growing demand, Thai rice exports to Hong Kong has declined. “Thailand should do more to promote Jasmine rice among Chinese consumers because Jasmine rice is generally more popular than other strains,” suggested Mr. Kenneth Chan, Chairman of the Hong Kong Rice Merchants Association.