Tue, October 26, 2021

business

China emerging as major threat to Thai rice exports


China could become Thailand's main competitor for rice export in the future, according to the Thai Rice Exporters Association.

The association's honorary president, Chookiat Ophaswongse, said that the association was closely watching China's rice exports, which had expanded in terms of volume over the past few years.
Last year China exported 2.7 million tonnes of rice, which is expected to reach 3.2 million tonnes this year.
He added that China's export is expected to expand to between 5 million tonnes to 6 million tonnes in the next few years, thanks to its rice varieties and high yield.
He said that besides China, Myanmar is also rising fast as a major rice exporter. Myanmar has already exported 2 million tonnes this year and is expected to increase to 3 million tonnes next year.
He added that Thailand's competitors have spent far higher than Thailand on rice research and development to improve quality and strains to make their rice fit well with market demand.
The association recently revised down its forecast for Thai rice exports this year from 7.5 million tonnes to 6.5 million tonnes.
Thailand's rice exports in the first half of this year dropped 32 per cent year on year to 3.14 million tonnes, worth US$2.2 billion, according to the association.

Published : July 28, 2020

By : The Nation