Thailand risks losing its place as the world’s second biggest rice exporter this year thanks to weaker competitiveness and a lack of new rice varieties to cater to changing market demand.
Bangkok (VNA) - Thailand risks losing its place as the world’s second biggest rice exporter this year thanks to weaker competitiveness and a lack of new rice varieties to cater to changing market demand.
President of the Thai Rice Exporters Association Charoen Laothamatas said amid stiff competition, relatively higher production costs than rivals such as Vietnam, volatile foreign exchange and widespread drought, Thailand risks falling to third this year, with Vietnam taking second place.
This year, the association set a rice export goal of 7.5 million tonnes, the same target by the Commerce Ministry, worth 4.2 billion USD, he said.
The target is the lowest in seven years since 2013 when Thailand exported 6.6 million tonnes of rice.
Thailand shipped 7.58 million tonnes last year, fetching more than 4.2 billion USD, down 32 percent in volume and 25 percent in value annually./.
Thailand rice convention 2017 was held from May 28-30 by the Department of Foreign Trade in collaboration with related organisations from both the public and private sectors.
A Vietnamese delegation, led by Deputy Minister of Industry and Trade Tran Quoc Khanh, has attended the Thailand Rice Convention 2017 in Bangkok from May 28 – 30.
Rice exports of Thailand in 2018 will be less than the target growth of 9.5 percent due to strong baht and decrease in rice production, said the Thai Rice Exporters Association (TREA).
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Illustrative image (Photo: AFP) 
