Thai Rice Imports Tied to Market Conditions

Manila Bulletin, January 16, 2010 | Go to article overview

Thai Rice Imports Tied to Market Conditions


The Philippine offer to buy 360,000 metric tons of rice tariff-free from Thailand this year as its compensation for refusing to cut rice duty fully under the ASEAN Free Trade Area agreement is still subject to market conditions, meaning supply, demand and prices.This was stressed by Trade and Industry Assistant Secretary for International Trade Group Ramon Vicente Kabigting after the Philippines and Thailand have concluded a negotiating process for the Philippines compensation scheme to Thailand over its decision to delay tariff cuts on rice.“Thailand has a commitment to allocate 360,000 tons and we are committed up to that level subject to market conditions including the right price,” Kabigting said. This means if the price is right.Kabigting said this was agreed during the ASEAN Summit in Hua Hin in October 2008.“We also told Thailand this government-to-government arrangement shall be subject to the applicable domestic laws, rules and regulations of both countries,” he said.Thailand has already replied to the draft Philippine Memorandum of Understanding, which had been cleared by the Department of Agriculture and the National Food Authority, last December 13, 2009, asking for some clarifications. …

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Thai Rice Imports Tied to Market Conditions
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