Chinese Government Purchases First Batch of 40,000 Tons of Thai Rice, Demands Delivery by March

China has agreed to purchase the first batch of 40,000 tons of Thai rice, with a firm delivery deadline by the end of March 2024. Sources from rice export companies report ongoing state-to-state (G2G) negotiations between Thailand and China, initially targeting 100,000 tons of white rice at 5% quality. The Chinese government has set specific purchase conditions, including stringent rice improvement requirements and a 10% value-added tax, which adds complexity for exporters.