Thread: Thailand suspends rice shipment to Iran over Saudi crisis

Thailand has temporarily suspended a shipment of one million tons of rice to Iran as a reaction to the current diplomatic crisis between Saudi Arabia and Iran, officials said.

Thai authorities will consult with their diplomatic outposts in both countries before making a decision in February on whether to continue selling rice to Iran, sources in the Thai Foreign Trade Department told Efe.

Thailand, which this year regained its status as top rice exporter in Southeast Asia, plans to export over 9 million tons of rice in 2016, valued at $4.8 billion, according to the Ministry of Agriculture.

Saudi Arabia broke off diplomatic ties with Iran after the execution of Shiite cleric Sheikh Nimr al-Nimr in Riyadh on Saturday sparked attacks by enraged Iranian civilians on the Saudi Embassy in Tehran and on the consulate in Mashhad.

The crisis has raised concerns among the international community, which has called for calm in both countries to stop escalating tensions that could affect peace negotiations for other countries in the region including Syria, Iraq and Yemen.

Thailand suspends rice shipment to Iran over Saudi crisis :: La Prensa :: America in English

Originally Posted by Hans Mann

valued at $4.8 billion

Take the money and run.
Screw the Saudis.

I believe the Thais might examine their own ethical and moral political bodies before judging others diplomatically...

Join up - the hypocritical bandwagon.

What a stupid move- what on earth are they thinking?

$4.8 billion for 9 million tons?...About $3.75/lb?...Is that right?...What's the price in the store?...

Is Yingluck still doing the books or is Prey-Youth cooking now?...

Originally Posted by BaitongBoy

$4.8 billion for 9 million tons?...About $3.75/lb?...Is that right?...What's the price in the store?...

Is Yingluck still doing the books or is Prey-Youth cooking now?...

That special rice legacy is dwindling throughout the export market.
I believe they should make like a thief and take it while they can.

Originally Posted by sabang

What a stupid move- what on earth are they thinking?

They're probably thinking the Saudis might let up on the Jewel case.

Guys the Iran contract hasn't even been signed yet,and it was for around 200,000 tonnes.

The 4.8 is the overall price of all exports of rice.

http://www.nationmultimedia.com/business/Thailand-Iran-target-bilateral-trade-of-$1-2-bn-wi-30273770.html

Thailand, Iran target bilateral trade of $1.2 bn within 3 years - The Nation

The Nation November 27, 2015 1:00 am

Thailand and Iran are aiming at boosting two-way trade to US$1.2 billion in three years, up from $300 million in 2014, after the Thai government sent its first mission there to form closer economic ties now that trade sanctions on that country have been lifted.

The two countries agreed to reorganise the meetings of the Joint Commission between the two sides to drive closer cooperation on various issues starting next February.

Bilateral trade averaged about $600 million a year in the past, but fell to about $300 million last year on lower oil prices.

Thailand will have a greater possibility of exporting rice to Iran. Iran demands about 1 million to 1.5 million tonnes of imported rice each year.

Initially, Thailand through both government and private exporters should be able to ship about 200,000 tonnes of rice to Iran next year. Iran has been buying rice from India and Pakistan.

Thais shooting themselves in the foot again. They really need to gain a world view. Daft fookin somchais. Seeking asylum should back me up on this one?

now Saudi is a member of the UN human rights council,possibly looking for some support.

Fuck the Saudis, pure evil, Thailand should be happy they do not have good relations with them.

I didnt know Iran had agreed to buy Thai rice again. They refused to buy any more after Thaksins 'close aid' ripped them off by diverting a shipment back in 2007 something he has been prosecuted for and found guilty of:

Rice kingpin sentenced to six years in jail for B200mn fraud
The Nation / Phuket Gazette
PHUKET: The Samut Prakan provincial court yesterday sentenced a rice businessman reportedly close to former PM Thaksin Shinawatra to six years in jail and fined him Bt12,000 after finding him guilty of embezzlement and fraud for his failure to deliver a Bt200-million broken-rice shipment to Iran.


Last I heard the present Govt was still trying to get them back as a customer:

Rice exports to Iran may resume soon
PETCHANET PRATRUANGKRAI
THE NATION

BANGKOK: -- THAILAND is expected to export more rice to Iran soon after that country lifts an import ban imposed three years ago after a Thai exporter defaulted on a rice-shipment contract, the Foreign Trade Department has said.

Now it would seem after the hard work of getting back what was once one of the countries top 5 customers they are playing silly buggers. Do they need Saudi oil that much ?

Love the papers when its says Reportedly.

Rice kingpin gets six years in jail for B200mn fraud - See more at: Rice kingpin gets six years in jail for B200mn fraud