Thailand is now aiming to export 8.5 million metric tonnes of rice this year, an increase from their initial projection, as reported by Chookiat Ophaswongse, the honorary president of the Thai Rice Exporters Association. The decision comes as rice prices escalate in competing nations such as Vietnam.
Chookiat informed that due to the high cost of Vietnamese rice, countries including the Philippines, and Indonesia are augmenting their orders of Thai rice. The current going rate for Thai rice stands between US$550 and US$555 per metric tonne, whereas Vietnamese rice is priced around US$630.
Thailand holds the status of the world’s second-largest rice exporter, with India leading the pack. Originally, the Thai government had predicted rice exports of 8 million tonnes for this year.
According to Chookiat, the El Nino weather pattern has only…
