Thailand expects to export 10 million tonnes of rice in 2017

Illustrative image (Source: AFP/VNA)

Bangkok (VNA) – The Thai Rice Exporters Association forecast the country to export between 9.5 million and 10 million tonnes of rice in 2017, close to the figure achieved in 2016 of about 9.5 million tonnes.

The association said the export could benefit from rising demand in some markets such as the Middle East. However, competition among exporters worldwide will be tougher. Meanwhile, rising oil prices and climate change impacts will affect the rice production and prices.

Thailand’s policy to scale down rice production and plantation and the government’s plan to sell out rice from its stockpiles are other factors that impact rice prices in the market. Rice contracts between Thailand and other countries will also influence the volume and value of rice export in 2017.

In December last year, Thailand was estimated to ship abroad about 800,000 tonnes of rice. The price of Thai 5-percent broken rice was about 370 USD per tonne, compared to 337 USD and 355 USD per tonne of Vietnamese and Indian rice, respectively.-VNA

VNA