India Resumes Rice Exports Amid Global Market Shifts; Thai Economy and International Partnerships Highlighted
India's Rice Export Policies Shake Global Market, Pressuring Thai Prices.
India’s decision to resume non-basmati white rice exports with a new floor price of $190 per tonne is impacting the global market. This move, along with a reduction in export duty on parboiled rice, aims to boost Indian exports and pressure competitors like Thailand to lower their prices, as Thai rice prices have hit a fourteen-month low.
Speaking of Thailand, Kasikornbank, the country's third-largest lender, is responding to economic challenges by prioritizing support for its existing clients rather than aggressive loan expansion. The bank's co-president, Rungruang Sukkirdkijpiboon, emphasized a focus on secured loan products and high-income customers, maintaining strict lending criteria while preparing for future growth.
On a related note, a report from the South Korean Justice Ministry revealed that 145,000 Thai nationals constituted 76.3% of the total illegal foreign residents in South Korea last year. The population of illegal aliens in South Korea was 423,675, primarily involving individuals on short-term visas or those without visas.
Meanwhile, Vietnam and Thailand are working to strengthen their economic partnership through enhanced cooperation in supply chains, business exchanges, and development policies. At the Meet Thailand conference in Da Nang, discussions highlighted Thailand’s significant role as Vietnam’s top ASEAN trading partner, and future collaborations in various sectors such as tourism, agriculture, and education were explored.
In other news from Thailand, Prime Minister Paetongtarn Shinawatra visited Chiang Rai to assess flood damage. She announced efforts to clear mud and restore essential infrastructure by early November, ensuring compensation for affected households and proposing the establishment of mental-health and disaster-relief centers.
Finally, in health news, Denmark is considering importing medications from Asian countries like Thailand, India, and China to offer more affordable drug options. This initiative has sparked a debate on consumer safety and quality control, but it could potentially set a precedent for other European countries in their pharmaceutical sourcing policies.