The Department of Foreign Trade has increased its rice export target for 2014 to 8-10 million tons after the baht tended to continue depreciating.

According to Director-General of the Department of Foreign Trade Surasak Rueangkhrua, the rice export target this year has been maintained at eight million tons since the country has already exported as much as five million tons during the past nine months. Next year’s target has been set at 8-10 million tons—60% of which would be exported via the Government-to-Government method and the rest would be sold by the private sector, he said.

Mr Surasak explained that the revised target was a result of the department’s policy to expedite the distribution of rice in stock and the country’s better competitiveness caused by the baht depreciation.