Thailand Aims for Increased Rice Exports to Italy
Published on: April 1, 2024.
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Thai Jasmine Rice Exports to Italy Expected to Increase Following Restrictions on Other Exporters
In a recent development, Thailand is looking to capitalize on the opportunity to increase its jasmine rice exports to Italy. This comes after India implemented restrictions on its rice exports and the European Union (EU) revoked tax privileges for two other exporters.
Thai Deputy Prime Minister and Minister of Commerce, Phumtham Wechayachai, expressed his belief that Thailand can fill the gap left by these restrictions. He has instructed trade representatives at Thai embassies to actively seek out export opportunities. The Thai envoy in Rome confirmed that Italy is in need of more rice due to a drought, presenting a favorable market for Thai rice exporters.
The EU’s decision to lift tax privileges for Vietnam and Myanmar this year opens up further possibilities for Thailand. However, it is important to note that Thailand can only take full advantage of this opportunity in the current year. The EU is expected to renew the tax privileges for Vietnam and Myanmar next year.
According to figures from the Global Trade Atlas, Thailand experienced a commendable 16.01% annual increase in rice exports to Italy last year. As a result, Thailand now holds the position of the third-highest rice exporter to Italy, trailing behind Pakistan and India.
It is worth noting that the availability of Thai jasmine rice in Italy is of significant importance. Jasmine rice, with its fragrant aroma and delicate flavor, is highly sought after by Italian consumers. With the supply of jasmine rice from India becoming limited and tax privileges being revoked for other exporters by the EU, the demand for Thai jasmine rice is expected to rise in the Italian market.
To ensure a smooth transition and greater accessibility to Thai jasmine rice, Thai Deputy Prime Minister Phumtham Wechayachai has emphasized the importance of collaboration with international trade representatives. By actively seeking out export opportunities, Thailand aims to establish itself as a reliable and prominent supplier of jasmine rice to Italy.
In conclusion, Thai jasmine rice exports to Italy are expected to increase in the wake of restrictions imposed on other exporters. With India limiting its exports and the EU revoking tax privileges for certain countries, Thailand sees a promising opportunity to expand its market share and satisfy the growing demand for jasmine rice in Italy.
Source: [link to the source article](https://en.vietnamplus.vn)
