Thailand reclaims no. 1 spot in global rice exports due to cheaper price

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BANGKOK, 5 June 2014 –Thailand has once again reclaimed the title of top global rice exporter, having exported 3.93 million tons of rice from the beginning of the year up to May 20, says the Thai Rice Exporters Association. 

According to the association, India came in a close second as the world’s largest rice exporter, having exported 3.74 million tons. The association explained the improved export quantity was due to the drop in price of Thai rice, which stood at 390 US dollars per ton on average. The association expects to export up to 9 million tons of rice, worth around 4 billion baht, for the entire year.

The rice exporters association indicated it was preparing to propose a system-wide rice management plan to the National Council for Peace and Order (NCPO). For the short term, the plan calls for a comprehensive review of the rice stock nationwide, and release of the stockpiled rice based on market conditions. For the long term, the association proposes the setting up of a rice committee from the private sector, which will have the role of establishing rice policies and maintaining market mechanisms.

According to the association, price intervention should only be applied when truly necessary.