Thailand wants rice top spot back

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Thai riceThailand, having lost its position as number one rice exporter of the world in 2012 due to unfavourable government subsidy policies, is reclaiming the top spot this year as rice shipments are expected to surge by at least 15 per cent.

The Thai Rice Exporters Association said on January 30 that government sales are accelerating from its record stockpiles and shipments may climb to 8 million metric tonnes this calendar year, assuming sales of 1.5 million tonnes from state inventories, from 6.95 million tonnes in 2012.

In 2012, India and Vietnam sold more than Thailand for the first time as Thai shipments tumbled 35 per cent to the lowest level since 2000, according to the US Department of Agriculture’s figures.

The reason was that Thailand through a government subsidy programme for rice farmers, which has been criticised  as a populist political measure, started buying rice from farmers way above market rates in October, 2011, to lift domestic prices and rural incomes, see our story.

Thailand now has around 17 million tonnes of milled rice in stockpiles and aims to sell it off mainly through government-to-government contracts. The country will maintain an export target of 8.5 million tonnes for this year, according to the Thai Department of Foreign Trade.

The US Department of Agriculture  estimates Thai exports will be 8 million tonnes this season, followed by India at 7.5 million tonnes and Vietnam at 7.4 million tonnes. However, the current strength of Thailand’s currency against the dollar may hamper rice sales to a certain extent.

 

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Reading Time: 1 minute

Thailand, having lost its position as number one rice exporter of the world in 2012 due to unfavourable government subsidy policies, is reclaiming the top spot this year as rice shipments are expected to surge by at least 15 per cent.

Reading Time: 1 minute

Thai riceThailand, having lost its position as number one rice exporter of the world in 2012 due to unfavourable government subsidy policies, is reclaiming the top spot this year as rice shipments are expected to surge by at least 15 per cent.

The Thai Rice Exporters Association said on January 30 that government sales are accelerating from its record stockpiles and shipments may climb to 8 million metric tonnes this calendar year, assuming sales of 1.5 million tonnes from state inventories, from 6.95 million tonnes in 2012.

In 2012, India and Vietnam sold more than Thailand for the first time as Thai shipments tumbled 35 per cent to the lowest level since 2000, according to the US Department of Agriculture’s figures.

The reason was that Thailand through a government subsidy programme for rice farmers, which has been criticised  as a populist political measure, started buying rice from farmers way above market rates in October, 2011, to lift domestic prices and rural incomes, see our story.

Thailand now has around 17 million tonnes of milled rice in stockpiles and aims to sell it off mainly through government-to-government contracts. The country will maintain an export target of 8.5 million tonnes for this year, according to the Thai Department of Foreign Trade.

The US Department of Agriculture  estimates Thai exports will be 8 million tonnes this season, followed by India at 7.5 million tonnes and Vietnam at 7.4 million tonnes. However, the current strength of Thailand’s currency against the dollar may hamper rice sales to a certain extent.

 

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