Thailand poised to overtake India in rice export

BANGKOK, 29 November (NNT) – The International Rice Research Institute (IRRI) has said Thailand could soon overtake India as the world’s largest rice exporter.

Bloomberg reported that the IRRI forecast Thailand will surpass India as the world’s largest rice exporter as the country accelerates sales from state stockpiles. However, the IRRI said the U.S. Department of Agriculture expects rice prices in the global market to fall because of large stockpiles, explaining that Thailand will be forced to sell its rice at lower prices.

Senior Economist Samarendu Mohanty said Indian rice exports decreased to 7 million tons during the first 9 months of this year.

Read more: NNT