Thai rice exports boom

Thai rice exports boom

BANGKOK (AFP): Thailand is expecting rice exports next year to reach record levels because of poor weather in other producing countries and the weakening baht, reports said Saturday.

A commerce ministry official said rice exports were enjoying much higher earnings since the baht was floated in July, the Nation newspaper reported.

The commerce ministry predicted six percent growth in rice exports next year to a record 5.3 million tons worth 53 billion baht, the reports said.

Foreign trade department director general Pracha Jarutrakulchai predicted exports this year would reach 5.1 million tons and earn 59.9 billion baht, up 27 percent on an earlier projection of 47 billion baht, the Nation said.

The commerce ministry official said the El Nio weather phenomenon would affect rice production in importing countries such as Indonesia and the Philippines, as well as in Africa, Latin America and the Middle East.