Thailand ranks no.1 rice exporter in 2014

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BANGKOK, 4 Jan 2015 – Thailand has reclaimed its rank as no.1 rice exporter in 2014 thanks to her adjustment of marketing strategies, which prompted the demand in foreign markets to jump.

The Thai Rice Exporters Association attributed the achievement to the country’s decision to lower rice prices in line with those of other exporting countries, leading to a boost in the country’s competitiveness. Thailand’s rice export volume in 2014 rose by 66 percent to 10.9 million tons.

As for jasmine rice export, the country was however unable to outperform Cambodia and Vietnam, which last year produced higher outputs at a lower price. The release of Thai jasmine rice, which had been pledged at high prices under the rice pledging scheme, prompted the Thai jasmine rice to be more expensive than that of other countries.

The Thai Rice Exporters Association has estimated this year’s rice export volume at 10 million tons, as the situation in the country’s market has returned to normal. It has also predicted that the drought crisis and the less tempting price would cause the off-season yields to drop by 30 percent–to six to seven million tons this year. In addition, the production costs of the off-season rice are unusually high given it has to be cultivated in the dry season, the release of the government’s stockpiled rice must, therefore, be well-timed.