Thai rice exports on the rise in 2nd half of 2014

BANGKOK, June 10 (TNA) - Thailand's exports of rice are expanding in the second half of this year, thanks to rising demand on the world market as predicted by the UN Food and Agriculture Organisation (FAO). Anan Lila, Secretary-General of the Office of Agricultural Economics (OAE) under the Thai Ministry of Agriculture and Cooperatives, told journalists of the positive prospect on Tuesday, assessing that Thailand may, therefore, regain its status as the world's top rice exporter in the coming months. Anan said the Rome-based FAO has also projected that global rice production for 2014/2015 should slightly grow to around 501.1 million tonnes totally, a 0.8 per cent year-on-year increase, with major rice producers including China, India, Bangladesh, and Vietnam, while Thailand's rice production is likely to slighly drop due to impacts of drought in the country. Anan cited the FAO forecast, however, that world rice prices should slightly decline due to the rising grains production globally, which should, in turn, boost the global demand for grains. As world demand for rice is on the rise in the same direction of production, based on the FAO assessment, global rice trade should increase to 39.3 million tonnes this year, from 37.2 million tonnes last year, while global grains stocks should expand from 174.8 million tonnes to 180.9 million tonnes in 2014, most of which are in Pakistan, Thailand and Vietnam, enhancing the world food security index to 36.0 for 2013/2014, from 35.7. The OAE chief pointed out that growing world rice demand should not only boost Thailand's exports of rice in the second of this year, but it should also help the Thai Kingdom regain its position as the world's top rice exporter in the near future. (TNA)