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351855
Fri, 12/19/2014 - 07:46
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Thailand Regains Position As Top Rice Exporter

By Minggu Simon Lhasa BANGKOK, Dec 19 (Bernama) -- Thailand is projected to regain its title as the world's top rice exporter this year, toppling India. Increased exports of Thai rice to other countries in the Far East and Africa are expected to propel Thai rice exports to 10.2 million tonnes in 2014, which, if confirmed, would stand only 500,000 tonnes short of the 2011 record exports, according to the Rice Market Monitor (RMM). This was revealed at a briefing by Vili Fuavao, Deputy Regional Representative for Asia and the Pacific of the United Nation’s Food and Agriculture Organisation (FAO) here Thursday afternoon. A development dominating the international rice trade this year has been the resurgence of Thailand as a leading rice exporter, “an advance made possible by key policy changes regarding government market intervention, namely the suspension of the paddy pledging programme and public stock sales,” the report states. “The ensuing restoration of its competitive edge has permitted Thailand to recapture much of the market share lost to India and Vietnam over the past two years,” it adds. The RMM predicts that rice deliveries by India will fall by five per cent to 10.0 million tonnes in 2014, depressed by a combination of heightened competition for markets and a reduction in demand in its major Basmati outlets. The export outlook is also bleak for Vietnam, the RMM states, with official deliveries now projected to remain close to the 2013 depressed level of 6.6 million tonnes, as the country is out-priced in Africa and rivalled by Thailand in important Far Eastern markets such as the Philippines, Indonesia and Malaysia. Malaysia is expected to import one million tonnes of rice this year, almost unchanged from last year. While final figures won’t be confirmed until early next year, FAO’s last quarterly report for 2014 indicates much of the forecast growth in 2014 global trade in rice is likely to be due to a surge in exports from Thailand, which again will claim the title as the world’s top rice exporter. Global rice production has remained steady, down only slightly from the previous record-setting year, with weather conditions contributing to a 0.5 per cent decrease in Asia. At 744.7 million tonnes (496.6 million tonnes, milled basis), the resulting 2014 global production forecast is expected to be only slightly lower this year compared with last year (down 0.2 per cent or 1.6 million tonnes). It reflects a 0.1 per cent contraction of both plantings and yields to 162.9 million hectares and 4.57 tonnes per hectare, respectively, brought about by unfavourable weather conditions. Overall global trade in rice is expected to hit 40.2 million tonnes in 2014 and could reach 40.5 million tonnes in the 2015 calendar year, the RMM states. The anticipated growth in global rice trade in 2014 is forecast to be sustained by a near 2.0 million tonne surge in shipments to Asian countries to 18.9 million tonnes. At a country level, the increase would mostly mirror a resurgence of demand from the Philippines, in the aftermath of damage incurred as a result of typhoon Haiyan and depleted inventories. The country may close the year with delivery of 1.8 million tonnes, up 1.1 million tonnes year-on-year, part of which is to reconstitute public rice reserves, the report states. -- BERNAMA

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