BANGKOK: Thailand was surpassed by India as a rice exporter in 2015 but traders have projected 9 million tons will be sold this year if the global economic downturn and drought crisis can be overcome.
Thai Rice Exporters Association Chairman, Pol Lt Charoen Laodhammatas, disclosed that Thailand exported 9.8 million tons of rice in 2015, or 150 trillion baht worth, down 10.8 percent year-on-year. He attributed the downturn to the global economy’s contraction, especially among countries with high rice demand, noting that the falling price of oil also impacted the buying power of such countries.
Thailand ended 2015 behind India for rice exports with the South Asian country selling 10.23 million tons of rice. Vietnam was third globally while China remained the number one importer of rice.
The association expects Thailand will sell 9 million tons of rice this year, or 144 trillion baht worth. While the figure is close to last year’s, the US farming department has projected the Kingdom will return to its status as the world’s number one exporter. Factors that could impact the sector are the continuing drought situation, which is weighing down production, as well as the global economy, which is depressing buying power.
