Thai rice exporters expect exports to drop to 10-M tonnes this year

February 5, 2015 6:43 am 

BANGKOK, Feb. 4 — The Thai Rice Exporters Association (TREA) expects this year's rice exports to drop to 10 million tonnes, worth USD4.95 billion, compared with 11.06 million tonnes, valued at USD5.43 billion, exported in 2014.

The lower exports was due to increased competitiveness in the rice market, fluctuation in the exchange rate and lack of clear strategies to increase development of Thai rice, said TREA President Chareon Laothammatas.

He said the price of Thai rice was still high compared with that offered by other rice exporters and buyers had a wide variety to choose from Myanmar and Cambodia.

The strengthening baht and the weakening of other currencies has also resulted in the price of Thai rice increasing USD25 per tonne in January.

He expressed concern that countries like Nigeria, which usually buy rice from Thailand, may turn to other rice producers to source their supply. (PNA/Bernama)

FPV/SSC

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