Thailand has once again become the world’s top rice exporters after having sold 1.5 million tons of rice to foreign countries in the first two months of this year.
Thailand exported 1.5 million tons of rice in January and February, beating its main rivals, India and Vietnam, who exported 1 million and 800,000 million tons of rice respectively. It has been predicted that Thailand will sell as much as 8.5 million tons for the entire 2014, the highest amount of rice exported by any one country, thanks to the good quality of Thai rice and the decreasing rice prices in the world market.
Prices of rice in the international market are expected to fall in the range of 360-380 dollars per ton in April. However the prices are likely to bounce back in the second half as importers tend to stock up the grain during this time of year.
Since the government’s rice subsidy program ended, rice prices have dropped to an average of 7,000 baht per ton in Thailand, causing prices of packed rice to decline as well.
Source: http://thainews.prd.go.th/centerweb/newsen/NewsDetail?NT01_NewsID=WNECO5703230010001