March 12, 2008
Bangkok - The rising global demand for rice makes the price of rice keeps going up in Thailand.
The higher price of rice can be seen in Bangkok.
The rice was traded at more than 500 dollars a ton in February, a rise of more than 100 dollars from a month earlier and up from just 325 dollars a year.
Many countries are willing to pay at a higher price to ensure there will be no shortage in the future.
The world's rice consumption has increased steadily since 1997.
Thailand's majority of rice transactions concentrates on the wholesale level. Major rice exporters include Capital Rice Co Ltd, Soon Hua Seng Rice Co Ltd, Uthai Produce Co Ltd, Thai Hua (1968) Co Ltd and President Agri Trading Co Ltd.
Thailand and Vietnam are the world’s two biggest exporters of the grain.
Thailand is currently exporting about 6.5 million t of milled rice per year. The exports continue to grow despite the stagnation in domestic production because of the declining trend in the domestic demand for rice.
Thailand has a reputation for high-quality, long-grain white rice which usually commands a substantial price advantage over lower grades.
