Rice exports likely to increase in rest of 2008

BANGKOK, Sept 23 (TNA) – Thailand's rice exports are expected to increase
further in the remaining four months of this year because many importing
countries have greater need for Thai rice, according to the Foreign Trade
Department (FTD).

FTD director-general Apiradi Tantraporn said since Thailand has not
imposed rice export controls, it is expected that the country's rice
exports this year will reach 9.5-10 million tonnes or about US$5.8-$6
billion.

Major destinations of Thai shipped rice stocks include Nigeria, Benin, the
Philippines, Malaysia, the European Union, Iraq, and the Ivory Coast.

From January through September 18 this year, Thailand exported 8.08
million tonnes of rice valued at $4.91 billion (Bt158.86 billion) in
value, up 39.48, 125.42, and 110.19 per cent respectively from the same
period last year.

The rice export price increased to an average of $607 per tonne, up 61.61
per cent from $376 a tonne last year.

Next year, she projected, the rice price in the world market would not
fluctuate as heavily as that of this year.

Constraints in the global rice supply is expected to ease because rice
production is set to increase.

However, the global demand for rice would remain high due to increased
consumption in many markets. It is forecast the global rice trade next
year would reach 28.25 million tonnes.

Major exporters include Thailand, Vietnam, the United States, Pakistan,
and India, while key importers are the Philippines, Nigeria, the European
Union, Saudi Arabia, Iran, Iraq, and Malaysia.

Thailand will continue to be the world's top rice exporter with a volume
of around 9-9.5 million tonnes shipped, or $4.95-5.23 billion in value,
she said.