The Ministry of Commerce is delighted that Thai rice exporters have signed a contract to sell 130,000 tons of rice to the Philippines.

Nonthaburi, The Director-General of the Department of Foreign Trade led a team of Thai rice exporters to the Philippines, matching exporters and importers, signing 9 MOUs to buy and sell rice, totaling more than 130,000 tons, with a combined value of more than 2.8 billion baht, along with organizing activities to promote soft power, saying Thai food must be served with Thai rice, expecting to gain more market share of Thai rice in the Philippines. Mr. Ronnarong Poolpipat, Director-General of the Department of Foreign Trade, said that in 2024, the Philippines has a high demand for rice imports of approximately 4.1 million tons. Therefore, the Department of Foreign Trade has organized a delegation of Thai rice trade from the private sector, led by Pol. Lt. Col. Charoen Laothamatas, President of the Thai Rice Exporters Association and members, to travel to the Philippines from July 3-5, 2024 to strengthen trade relations and sign 9 MOUs with Philippine rice importers, totaling 130,000 tons, worth more than 2.8 billion baht. After signing the rice purchase and sale MOUs, the department has also collaborated with the Office of International Trade Promotion in Manila to invite importers, rice traders, department stores/retail stores, major rice traders, representatives of Philippine government agencies, as well as more than 70 media and influencers to join the Thai rice promotion activity under the concept of 'Premium Thai Rice with Authentic Thai Food' at Mango Tree Manila, a restaurant that has received the 'Thai SELECT' seal from the Ministry of Commerce. This activity promotes the Soft Power policy of Thai food to promote and encourage the consumption of Thai rice abroad. This time, there was a demonstration of Thai cooking along with serving 3 Thai rice dishes: green chicken curry, stir-fried pork with holy basil, and sticky rice with mango, which attracted a lot of attention. In addition, the event also provided a chance to taste authentic Thai food served with quality Thai rice, such as Thai Hom Mali rice, whi ch is known for its delicious taste, unique aroma, and softness, and Riceberry rice, which has the special characteristic of being colorful and high in nutritional value. This activity was very well-received by the participants, who agreed that Thai rice is diverse and can meet the rice consumption needs of Filipinos very well. In addition, the Department also met with the National Food Authority (NFA), the agency responsible for managing the Philippines' rice stocks, to exchange information on the rice market situation, including the policy of reducing the import tariff from 35 percent to 15 percent, which is expected to be effective from mid-July 2024 until the end of 2028, with the import tariff rate reviewed every four months. The Department also discussed the possibility of amending the Philippine government's law to allow the NFA to import rice in an emergency, which is currently under consideration by the Senate. The Thai side expressed confidence that Thailand is ready to export rice to support the P hilippines' food security. However, the delegation's trip to the Philippines this time was a great success, demonstrating that Thai rice has a reputation for quality, variety, and texture that meets the needs of Filipino consumers. It is expected that this activity will help expand the rice market share in the Philippines. Statistics on Thai rice exports to the Philippines in the first 6 months of 2024 (January - June) were approximately 299,787 tons, an increase of 381.66 percent from the same period last year, and had a value of approximately 5,978 million baht (approximately 167 million US dollars), an increase of 558.97 percent from the same period last year. Source: Thai News Agency