Thailand Rice Exports To Decline In 2009

According to industry experts, Thailand's exports of rice is expected to be gloomy in the year 2009 due to the ongoing global economic slowdown and uncompetitive prices of Thai rice.

Chookiat Ophaswongse, president of Thai Rice Exporters Association, said rice export trends for next year are not promising because Thailand's domestic rice prices had risen sharply in 2008 while a number of countries had encouraged more rice farming for their own consumption, while rice-exporting countries also are growing more rice.

Thailand's rice exports in 2009 are expected to retreat to about 8.5 million MT from this year's 10 million MT while export revenues are also projected to fall.