BANGKOK, Jan 20 — Thailand exported its historically highest amount of rice at 10.8 million tons in 2014 and should have more chances to release its rice stocks as the global rice yield was likely to drop this year, according to Commerce Minister Chatchai Sarikulya.
The minister said that the export value amounted to US$5.37 billion and exports rose by 64 per cent by volume and 22 per cent by value from 2013 when the country exported 6.6 million tons of rice worth US$4.42 billion.
He said that the export amount was the highest ever as the government and the private sector joined forces to sell both newly harvested rice and government rice stocks at their best.
Gen Chatchai said the Thai and global rice trade should grow in 2015. The global rice yield should stand at 475.2 million tons, dropping by 0.3 per cent from 2014 when the yield amounted to 476.9 million tons.
He said that rice yields would decline in Thailand, India, Japan, Pakistan, Egypt, Sri Lankan and Nigeria.
This year's global rice consumption is predicted at 482.9 million tons, 7.7 million tons above the global supply. Therefore, he expects the global rice trade volume should peak historically at 41.92 million tons, rising from 41.88 million tons in 2014.
The commerce minister explained that many rice-importing countries demanded more rice. He expects China will import 4 million tons of rice, Nigeria 3.5 million tons, and Iran and the Philippines 1.7 million tons each.
"The global rice yield is likely to drop and Thailand will have more opportunities to sell rice from the 2014/2015 crop season and from the government's stock. I expect Thailand will continue to be the world's biggest rice exporter exporting 10-11 million tons," Gen Chatchai said. (MCOT online news)
