Thailand approves additional 220,000 tons of rice sales to China

Khaosod•Economy•18d ago

Reader Briefing

The Thai Cabinet has approved an increase of 220,000 tons in the Government-to-Government (G2G) rice export quota to China.

•The Cabinet approved an additional 220,000 tons of rice for sale to China.
•The total purchase requirement from COFCO Corporation is 500,000 tons.
•The final delivery deadline for the rice has been extended to within the year 2026.

•The rice trade is conducted under a Memorandum of Understanding between the Thai government and the Chinese government regarding agricultural product trade cooperation signed on December 19, 2014.
•The Cabinet approved the expansion of the G2G rice purchase volume by an additional 220,000 tons as proposed by the Ministry of Commerce.
•COFCO Corporation intends to purchase a total of 500,000 tons of rice, consisting of 280,000 tons of outstanding volume from the original contract and 220,000 tons of additional volume.
•Under the original agreement to sell 1 million tons of new rice, the Department of Foreign Trade has already delivered 720,000 tons across 8 installments.
•The Ministry of Commerce is assigned to draft a contract amendment based on views from the Ministry of Foreign Affairs, the Ministry of Agriculture and Cooperatives, and the National Economic and Social Development Council.
•Both parties agreed to adjust the contract to support the additional volume and extend the final delivery period to within the year 2026.
•The Cabinet acknowledged the operational guidelines for negotiating and drafting G2G rice contracts, covering negotiation criteria, payment terms, delivery, and information disclosure.

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Thai Government(รัฐบาล)ℹ️

The governing body that approved the expansion of the rice export quota to China.

Cabinet(คณะรัฐมนตรี)

The body that approved the additional rice sales and acknowledged G2G contract guidelines.

Ministry of Commerce(กระทรวงพาณิชย์)ℹ️

The agency that proposed the quota increase and is tasked with drafting the contract amendment.

Chinese Government(รัฐบาลจีน)ℹ️

The government entity that expressed the desire to purchase additional rice from Thailand.

COFCO Corporationℹ️

The organization seeking to purchase a total of 500,000 tons of rice from Thailand.

Ministry of Foreign Affairs(กระทรวงการต่างประเทศ)ℹ️

The ministry whose views will be used to prepare the contract amendment.

Ministry of Agriculture and Cooperatives(กระทรวงเกษตรและสหกรณ์)

The ministry whose views will be considered in the contract amendment process.

National Economic and Social Development Council(สำนักงานสภาพัฒนาการเศรษฐกิจและสังคมแห่งชาติ)

The office whose views will be incorporated into the contract amendment proceedings.

Department of Foreign Trade(กรมการค้าต่างประเทศ)

The department that has delivered 720,000 tons of rice to the Chinese government.