Thai Deputy Prime Minister and Minister of Commerce Phumtham Wechayachai has believed that the country can export more jasmine rice to Italy, as India has restricted its exports and two other exporters have been deprived of their tax privileges by the EU.
The official said on Monday that he has instructed trade representatives at Thai embassies to look for export opportunities. The envoy in Rome responded by saying that Italy needs more rice due to drought, The Nation reported.
He said that the EU has lifted tax privileges for Vietnam and Myanmar this year. However, Thailand can only make the most of this opportunity this year, as the EU is expected to renew the privileges for the two nations next year, he noted.
Figures from the Global Trade Atlas showed that with a 16.01% annual rise in rice exports to Italy last year, Thailand became the country’s third highest rice exporter after Pakistan and India.