Thai rice exports to fall

Thai rice exports to fall

BANGKOK (AP): Increased production from rival rice growing countries means Thailand's rice exports will fall in 1999, the manager of the Thai Rice Exporters Association said on Wednesday.

Thai rice exports probably won't exceed 5.5 million tons in 1999, down from 6.3 million tons in 1998, said Somboon Pataichan, the association manager.

Thailand is the world's largest rice exporter. Its premium rice is called Jasmine Fragrant and has captured significant shares in such difficult markets as Japan.

Somboon said the decrease in exports would also cause prices to fall domestically, causing further hardship to farmers already suffering from Thailand's economic crisis.

Somboon said a ton of Jasmine Fragrant rice was now selling for 7,000 baht (US$189), compared to 12,000 baht early in 1998.