Thai Government approves 220,000 ton G2G rice sale expansion to China

Thansettakij•Economy•18d ago

Reader Briefing

The Thai Cabinet has approved an increase of 220,000 tons in rice exports to China under a government-to-government agreement.

•The Thai Cabinet approved the sale of an additional 220,000 tons of rice to China.
•This expansion is based on a Memorandum of Understanding signed on December 19, 2014.
•COFCO Corporation expressed a desire to purchase a total of 500,000 tons, consisting of 280,000 tons of remaining balance and 220,000 tons of new volume.
•The delivery deadline for the final installment has been extended to the year 2026.

•The Thai government and the government of the People's Republic of China signed a Memorandum of Understanding on agricultural trade cooperation on December 19, 2014.
•The original agreement involved China purchasing 1 million tons of new rice and 1 million tons of government stock rice from Thailand.
•The Department of Foreign Trade has already delivered 720,000 tons of new rice to COFCO Corporation in 8 installments, leaving 280,000 tons remaining.
•COFCO Corporation requested to purchase an additional 500,000 tons, which includes the 280,000 tons outstanding balance and 220,000 tons of additional volume.
•The Cabinet approved the additional 220,000 tons as proposed by the Ministry of Commerce.
•The Cabinet requested the Ministry of Commerce to draft an amendment to the G2G rice sales contract following views from the Ministry of Foreign Affairs.
•The Ministry of Commerce and related agencies must consider views from the Ministry of Agriculture and Cooperatives and the National Economic and Social Development Council.
•Both parties agreed to extend the final rice delivery deadline to within the year 2026.

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Thai Government(รัฐบาล)ℹ️

The authority that approved the expansion of rice trade volume with China.

Government of the People's Republic of China(รัฐบาลแห่งสาธารณรัฐประชาชนจีน)ℹ️

The party that entered into a Memorandum of Understanding with Thailand for agricultural trade cooperation.

Ministry of Commerce(กระทรวงพาณิชย์)ℹ️

The ministry that proposed the rice volume expansion to the Cabinet and is tasked with drafting the contract amendment.

Cabinet(คณะรัฐมนตรี)

The body that approved the expansion of G2G rice sales and acknowledged the G2G negotiation guidelines.

Ministry of Foreign Affairs(กระทรวงการต่างประเทศ)ℹ️

The ministry whose views must be followed by the Ministry of Commerce in drafting the contract amendment.

Ministry of Agriculture and Cooperatives(กระทรวงเกษตรและสหกรณ์)

An agency whose views the Ministry of Commerce and related agencies must consider.

National Economic and Social Development Council(สำนักงานสภาพัฒนาการเศรษฐกิจและสังคมแห่งชาติ)

An agency whose views the Ministry of Commerce and related agencies must consider.

Department of Foreign Trade(กรมการค้าต่างประเทศ)

The department that delivered 720,000 tons of rice to COFCO Corporation.

COFCO Corporationℹ️

The Chinese entity that received rice deliveries and expressed a desire to purchase additional rice.