Illustrative image (Photo: AFP) Bangkok (VNA) - Thailand risks losing its place as the world’s second biggest rice exporter this year thanks to weaker competitiveness and a lack of new rice varieties to cater to changing market demand.
President of the Thai Rice Exporters Association Charoen Laothamatas said amid stiff competition, relatively higher production costs than rivals such as Vietnam, volatile foreign exchange and widespread drought, Thailand risks falling to third this year, with Vietnam taking second place.
This year, the association set a rice export goal of 7.5 million tonnes, the same target by the Commerce Ministry, worth 4.2 billion USD, he said.
The target is the lowest in seven years since 2013 when Thailand exported 6.6 million tonnes of rice.
Thailand shipped 7.58 million tonnes last year, fetching more than 4.2 billion USD, down 32 percent in volume and 25 percent in value annually./.
President of the Thai Rice Exporters Association Charoen Laothamatas said amid stiff competition, relatively higher production costs than rivals such as Vietnam, volatile foreign exchange and widespread drought, Thailand risks falling to third this year, with Vietnam taking second place.
This year, the association set a rice export goal of 7.5 million tonnes, the same target by the Commerce Ministry, worth 4.2 billion USD, he said.
The target is the lowest in seven years since 2013 when Thailand exported 6.6 million tonnes of rice.
Thailand shipped 7.58 million tonnes last year, fetching more than 4.2 billion USD, down 32 percent in volume and 25 percent in value annually./.
VNA
