(CTN News) – Thailand has signed nine Memorandums of Understanding (MOUs) to export more than 130,000 metric tons of rice to the Philippines, worth more than 2.8 billion baht.
Director-General Ronnarong Phoolpipat of the Department of Foreign Trade (DFT) led the delegation of Thai rice exporters. This program is expected to enhance Thailand’s rice market share in the Philippines. Ronnarong stated that the Philippines’ demand for rice imports will reach 4.1 million tons by 2024.
The Thai group, which included Jaroen Laothamatas, President of the Thai Rice Exporters Association, visited the Philippines from July 3-5, 2024, to enhance trade relations and finalize MOUs with Filipino rice importers.
In addition to the MOUs, the DFT, in partnership with the Thai Trade Office in Manila, hosted a promotional event titled “Premium Thai Rice with Authentic Thai Food” at Mango Tree Manila, a Thai SELECT restaurant.
Promotional Event Showcases Premium Thailand Rice
The event drew more than 70 attendees, including importers, retailers, government authorities, and influential figures. The event included cooking demonstrations of Thai meals served with Thai rice, such as green curry chicken, stir-fried pork with basil, and mango sticky rice, highlighting the distinct flavors and high quality of Thai rice varieties such as Jasmine and Riceberry.
The DFT also met with the Philippines’ National Food Authority (NFA) to review market conditions and the possibility of lowering rice import tariffs from 35% to 15% beginning in mid-July 2024 and running through the end of 2028.
Legislative reforms were discussed, including allowing the NFA to import rice during emergencies. This would demonstrate Thailand’s readiness to support the Philippines’ food security.
The delegation’s visit was successful, highlighting Thai rice’s excellent reputation for quality and diversity. Thailand shipped roughly 300,000 tons of rice to the Philippines in the first half of 2024, representing a 381.66% increase over the previous year. This shipment was worth around 5.97 billion baht, representing a 558.97% rise in value.
Source: Pattaya Mail
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