India may be Thailand’s next rival in rice exports


BANGKOK, 11 May 2015,  The Thai Chamber of Commerce Council Chairman, Chukiat Opaswong, has projected that the Kingdom will be able to export only 8.5 million tons of rice this year, a sharp drop from last year’s 11 million tons. He said India may become Thailand’s next rival in rice exports, as the nation starts taking an increased share of the African market.

He said several nations have already implemented price slashing schemes to boost rice exports, especially India, leading to fierce competition. Indian rice, in particular, is 40 dollars per ton cheaper than that of Thailand’s.

Thailand exported 2.6 million tons of rice during the first four months of this year, he said, adding India’s figure was 2.5 million tons in the same period.

He said the stronger baht may be contributing to the high rice price. Thailand’s rice is being priced at 385 dollars per ton, he indicated, pointing out Vietnam’s product is being sold at 355-360 dollars a ton, and India is at 360 dollars per ton.