Thailand has dropped to second place in rice export, losing the top position to India, said Chairman of Thailand Rice Exporters Association Charoen Laothammathat on January 27.
Thailand has dropped to second place in rice export, losing the top position to India (Source:todayonline.com)
Bangkok (VNA) – Thailand has dropped to second place in rice export, losing the top⛦ position to India, said Chairman of Thailand Rice Exporters Association Charoen Laothammathat 𓄧on January 27.
Thailand exported 9.8 million tonnes of rice in 2015, compared to 10.9 million tonnes of rice in 2014.
Meanwhile, India topped with 10.2 million tonnes and Vietnam ranked third with 6.4 million tonnes of rice for 2015.
Rice export was estimated to have earned 4.6 billion USD for Thailand in 2015, lower than 2014’s figure of 5.4 billion USD.
The kingdom is expected to ship about 9 million tonnes of rice in 2016, bringing home 4.3 billion USD .
Charoen said drought in many rice-farming areas and lower purchasing power from African countries in the context of the globe’s economic recession, are the main reasons for a reduction in the sector’s forecast for 2016.-VNA
Thailand’s rice export prospects are brightening with shipments expected at 9.5 – 10 million tonnes next year, according to the Thai Rice Exporters Association.
Vietnam will have various advantages in exporting rice this year though it may have to compete with Thai rice in the global export market when Thailand sells rice at stock.
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The Ministry of Commerce reported that imports also rose 18% to 29.9 billion USD during the same period, resulting in a trade surplus of 1.1 billion USD. In May alone, Thailand posted a 4.6 billion USD trade surplus with the US and a 4.1 billion USD trade deficit with China.
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Thailand has dropped to second place in rice export, losing the top position to India (Source:todayonline.com)
