Thailand and Indonesia to ink rice MoU

Thailand and Indonesia to ink rice MoU

G2G deal to sell as much as 1m tonnes

The government looks set to sign a memorandum of understanding (MoU) to sell as much as one million tonnes of rice a year in a government-to-government (G2G) deal with Indonesia late this month.

According to Commerce Minister Jurin Laksanawisit, the MoU signing will be organised in the final week of March, covering no more than one million tonnes of 15% to 25% white rice a year for four years.

However, the rice sales also include conditions, depending on the rice production of the two countries and the world rice price.

Thailand sold a total of 925,000 tonnes of rice under G2G contracts to Indonesia under the previous agreement from 2012 to 2016.

Over the past five years, no G2G rice deals between Thailand and Indonesia were carried out,…