Thai rice faces global price war
Thailand’s rice market is expected to face a price war next year as a result of oversupply that will lower prices in both domestic and export markets, while the stronger baht could hurt the competitiveness of rice shipments, exporters warn. Charoen Laothammatas, president of the Thai Rice Exporters Association, said paddy supply from the 2016-17 crop to be harvested from November to January, is estimated to rise by 10-20% from the normal level of 22 million tonnes. In the first six months, Thailand shipped 4.99 million tonnes of rice and it is set to export about 9.5 million tonnes this year.
