Thai rice exports peak in 2014, keep rising

BANGKOK, January 20 (TNA) - The Ministry of Commerce reports that Thailand's rice exports historically peaked in 2014 at 10.8 million tons and are expected to remain on the top of the world list in 2015 at 10-11 million tons. Commerce Minister General Chatchai Sarikulya told journalists on Tuesday that Thailand exported the historically highest amount of rice at 10.8 million tons in 2014, totally worth 5.37 billion US dollars, representing a 64 per cent year-on-year surge in volume and 22 per cent year-on-year increase in value. General Chatchai noted that the total Thai rice export amount was the highest ever last year because the government and the private sector joined forces to sell newly-harvested grains and those from the government's stocks at their best. The commerce minister assessed that the global rice yield should drop by 0.3 per cent year-on-year in 2015, from 476.9 million tons last year to 475.2 million tons, as rice produce in major world production bases like India, Japan, Pakistan, Egypt, Sri Lankan, Nigeria and even Thailand is likely to decline; while global rice trade should continue to grow this year, expected to historically peak at 41.92 million tons, from 41.88 million tons last year, because the global rice consumption is estimated at 482.9 million tons, about 7.7 million tons above the global supply. According to the commerce minister, Thailand will, therefore, have more opportunities to sell rice from the 2014/2015 crop season and from the government's stock. The commerce minister foresaw that Thailand will continue to be the world's largest rice exporter consequently, shipping up to 10-11 million tons of its grains to world market this year. The Thai commerce minister pointed out that many rice-importing countries demand more rice, with China expected to import 4 million tons of rice, Nigeria 3.5 million tons and Iran and the Philippines 1.7 million tons each this year. (TNA)