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Japan Says No to Thai Rice Because Price Not Nice

After the price of rice doubled in one month, Japanese importers have decided to decline an order for 60,000 tons of Thai rice, according to the Thai Rice Exporters Association. For centuries, Japan did not import rice at all, so that their local farmers could maintain high prices and avoid competition. The current policy of allowing imports from Thailand and elsewhere has only been adopted in the past few years.

According to Chookiat Ophaswongse, president of the association, “Japan turned down this offer, saying that the price was too high for their budget.” Mr. Chookiat expects prices to stabilize sometime in the next few months. The demand for rice has gone sky high in the past few months, sending prices to record levels. He points out in regard to other countries who buy big amounts of rice from Thailand, “We are waiting to hear from two major rice importers, Indonesia and Iran,” adding

“We have not heard from them yet, and their demand can drive the prices up.”

Last year, Japan imported 200,000 tons of Thai rice while Indonesia dwarfed that with purchases of over 1,000,000 tons. When Indonesia begins placing orders, the price is expected to rise again sharply. Internationally, rice is trading at $998 per ton, up from $624 at the end of last month.

White rice, the finished product after the rice grains a husked and polished is virtually devoid of any nutritional value, providing 0% of any necessary nutrients. It is also the most popular food in the world, being the staple of diets all around the world.

Thai rice farmers are having a big year and expect record profits. Many have chosen to plant a second crop in order to cash in on the new demand. The demand for water from reservoirs in Thailand is stretching water resources to the limit, but when the rainy season begins, this problem should all but disappear.

Japan Says No to Thai Rice Because Price Not Nice

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