The University of the Thai Chamber of Commerce (UTCC) has indicated that Thailand’s 2014 rice exports may plunge in both Asian and global markets due to low output and high production costs.
The UTCC’s Foreign Trade Study Department Director Att Pisanwanich was quoted by the National News Bureau of Thailand (NNT) as predicting that the country’s rice exports will not exceed 6.8 million tonnes this year, compared to last year’s 7 million tonnes.
The decrease will push Thailand down to the third place among world largest rice exporters, after India and Vietnam.
He also said Thailand should keep an eye on Myanmar. Its rice exports could reach 1.05 million tonnes, a massive jump from last year’s 750,000 tonnes.
Att expressed his concerns over the future of Thai rice exports as other rice suppliers in the region such as the Philippines, Indonesia and Malaysia have all stepped up their productivity while the number of customers of Thai rice is declining following the falling quality of the products.
He also suggested the government spend 200 billion THB to establish a fund to subsidise 40 percent of farmers’ production costs, claiming that the plan will be more viable than the rice subsidy programme.-VNA
The UTCC’s Foreign Trade Study Department Director Att Pisanwanich was quoted by the National News Bureau of Thailand (NNT) as predicting that the country’s rice exports will not exceed 6.8 million tonnes this year, compared to last year’s 7 million tonnes.
The decrease will push Thailand down to the third place among world largest rice exporters, after India and Vietnam.
He also said Thailand should keep an eye on Myanmar. Its rice exports could reach 1.05 million tonnes, a massive jump from last year’s 750,000 tonnes.
Att expressed his concerns over the future of Thai rice exports as other rice suppliers in the region such as the Philippines, Indonesia and Malaysia have all stepped up their productivity while the number of customers of Thai rice is declining following the falling quality of the products.
He also suggested the government spend 200 billion THB to establish a fund to subsidise 40 percent of farmers’ production costs, claiming that the plan will be more viable than the rice subsidy programme.-VNA
