Govt announced large sales of rice to other govts (Philippines, China, Africa) but with all deals hidden, experts don't believe it.
Thai rice industry surprised by deals
The minister said all the deals involved government-to-government (G-to-G) transactions with Indonesia, the Philippines, China and Ivory Coast.
He declined to give details of the transactions, particularly prices or how much each buyer purchased, saying vaguely only that deliveries have already started and will be completed this year.
But local rice exporters expressed doubt about the sales and deliveries, saying they know only of Ivory Coast agreeing to purchase 240,000 tonnes of rice in July.
Mr Boonsong has worked hard to sell rice in recent months, but a source said as far as could be determined, the minister was able to clinch memorandums of understanding to sell 1 million tonnes of rice each to Indonesia, the Philippines and Bangladesh plus 200,000 tonnes to Guinea.
We're not aware of any active rice loadings at the ports if what the government says is true, that it has sold most its record inventory and already started shipping it," said Chookiat Ophaswongse, honorary president of the Thai Rice Exporters Association.
Export of more than 100,000 tonnes of rice would at least have a shipment booking, which cannot be concealed, and due to the current low export volume, we'd know about any large exports such as those announced by the minister.
He urged the government to disclose at least the amount of rice sold under the G-to-G contracts to each buyer and the amount due for delivery this year and next, like it did with the earlier Ivory Coast deal.
"Exporters are concerned about the selling prices, as reports are the government itself has been trying to sell rice to Indonesia under G-to-G contracts at only $500 a tonne, which is below the present market price of $560-580," said Mr Chookiat.
If the selling price turns out to be as low as $450 a tonne, that will mean a massive loss for the government and the destruction of Thailand's rice export market.
As of last Friday, year-to-date rice export volume had fallen by 45% year-on-year to 4.5 million tonnes.
But Mr Boonsong is confident Thailand's rice exports will reach 8.5 million tonnes this year.
The minister said the government's stockpile is set to drop to only 4.1 million tonnes from 12.6 million tonnes before.
These grains will be held as food security for the country, although occasional sales can still occur, said Mr Boonsong.
"We'll continue our policy of pledging each grain of rice, as we believe global demand will be strong," he said.
(Source: Bangkok Post, Economics, COMMODITIES, Thai rice industry surprised by deals, 13/09/2012, Phusadee Arunmas, link)
Rice Industry Vocabulary
government-to-government (G-to-G) transactions - when one government sells goods to another government
G-to-G contracts
the amount of rice sold under the G-to-G contracts
taken by surprise - were surprised by some event
announcement - information given to public ประกาศ
ministry - a government department dealing with an area of activity กระทรวง
concluded - finished; completed; ended
concluded six export deals
The rice industry was taken by surprise yesterday by Commerce Minister Boonsong Teriyapirom's announcement that his ministry has concluded six export deals for a combined 7.33 million tonnes of rice. The minister said all the deals involved government-to-government (G-to-G) transactions with Indonesia, the Philippines, China and Ivory Coast.
decline - refuse, say that you will not or cannot do something
decline to give details
declined to give details of the transactions
vaguely - to not be exact or give any details (descibe something without any details, so people don't know exactly what is happening)
saying vaguely only that deliveries have already started
doubt - not know for sure if something is true or false, uncertain
express doubt - say you think something might not be true
rice exporters expressed doubt about the sales
purchase - buy
agreeing to purchase 240,000 tonnes of rice
He declined to give details of the transactions, particularly prices or how much each buyer purchased, saying vaguely only that deliveries have already started and will be completed this year. But local rice exporters expressed doubt about the sales and deliveries, saying they know only of Ivory Coast agreeing to purchase 240,000 tonnes of rice in July.
source - 1. someone who gives information to the media such as a newspaper แหล่งข่าว 2. where something comes from or starts at, or the cause of something ต้นกำเนิด, แหล่งกำเนิด
a source said ...
determined - found out; discovered ระบุชี้ชัด
as far as could be determined
Memorandums Of Understanding (MOU) - a temporary written agreement between two organizations that explains how they intend to do business with each other and what their relationship will be (See Wikipedia)
clinch - get (something you try hard or compete to get, but not certain)
clinch memorandums of understanding
Mr Boonsong has worked hard to sell rice in recent months, but a source said as far as could be determined, the minister was able to clinch memorandums of understanding to sell 1 million tonnes of rice each to Indonesia, the Philippines and Bangladesh plus 200,000 tonnes to Guinea.
load - put goods onto some transport (truck, ship, airplane)
rice loadings - putting rice on ships
active - currently happening; operating, doing its job
active rice loadings
active rice loadings at the ports
aware - knowing that something exists, or having knowledge or experience of a particular thing ทราบ
We're not aware of any active rice loadings at the ports
inventory - the products kept in a shop, warehouse, etc., in this case, unsold cars; goods that a company has bought and stores for future use or sale สินค้าที่จัดเก็บในสต๊อก (See Wikipedia)
shipping - sending or transport of goods from one place to another place (especially on ships)
already started shipping it
We're not aware of any active rice loadings at the ports if what the government says is true, that it has sold most its record inventory and already started shipping it," said Chookiat Ophaswongse, honorary president of the Thai Rice Exporters Association.
shipment - goods sent (or "shipped") from one place to another
booking - making an arrangement or "reservation" to do something in the future (examples: room bookings in a hotel, booking for a concert)
shipment booking
conceal - hide (put something where people cannot see it)
cannot be concealed
current - of the present time ปัจจุบัน
volume - the quantity or amount of something
the current low export volume
Export of more than 100,000 tonnes of rice would at least have a shipment booking, which cannot be concealed, and due to the current low export volume, we'd know about any large exports such as those announced by the minister.
urged - advised someone very strongly about what action should be taken; requested them to do วิงวอน
disclose - to make information known to the public เปิดเผย เปิดเผยต่อสาธารณะ
urged the government to disclose
concerned - worried about something มีความกังวล
exporters are concerned about the selling prices
massive - very large in size, amount or numberใหญ่โต มหาศาล
a massive loss for the government
destruction - when something is destroyed การทำลาย, ภาวะที่ถูกทำลาย
the destruction of Thailand's rice export market
He urged the government to disclose at least the amount of rice sold under the G-to-G contracts to each buyer and the amount due for delivery this year and next, like it did with the earlier Ivory Coast deal. "Exporters are concerned about the selling prices, as reports are the government itself has been trying to sell rice to Indonesia under G-to-G contracts at only $500 a tonne, which is below the present market price of $560-580," said Mr Chookiat. If the selling price turns out to be as low as $450 a tonne, that will mean a massive loss for the government and the destruction of Thailand's rice export market.
year-to-date - the total amount from the beginning of the year to now
year-to-date rice export volume
confident - being certain of your abilities or of having trust in people, plans, or the future มั่นใจ
confident Thailand's rice exports will reach 8.5 million tonnes
stockpile - large quantities of goods stored for future use จำนวนสินค้าที่เก็บตุนไว้เป็นจำนวนมาก คลังสินค้า
the government's stockpile is set to drop
security - the activity of making safe or protecting from harm ความปลอดภัย
food security - safety from not having enough feed people (at a reasonable price)
grains will be held as food security for the country
policy - a plan of action to guide decisions and achieve outcomes นโยบาย (See Wikipedia)
pledging - giving crops to the government to get the special government price
grain - the seed from cereal crops such as rice, wheat, or corn เมล็ดพืช
policy of pledging each grain of rice
global - throughout the world; all over the world, including the whole world ทั่วโลก ทั้งโลก
demand - the need and desire to buy goods and services by households and businesses
global demand
we believe global demand will be strong
As of last Friday, year-to-date rice export volume had fallen by 45% year-on-year to 4.5 million tonnes. But Mr Boonsong is confident Thailand's rice exports will reach 8.5 million tonnes this year. The minister said the government's stockpile is set to drop to only 4.1 million tonnes from 12.6 million tonnes before. These grains will be held as food security for the country, although occasional sales can still occur, said Mr Boonsong. "We'll continue our policy of pledging each grain of rice, as we believe global demand will be strong," he said.
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