Food Inflation Fears Send Thai Rice Exports to Four-Year High
- China’s buying Thai rice to build stockpiles before holidays
- Indonesian demand seen lifting Thai shipments next year
A farmer plants rice in a paddy in Sisaket province.
Photographer: Luke Duggleby/BloombergThis article is for subscribers only.
Thailand, the world’s biggest rice exporter after India, is on track to ship the highest volume in four years as importing countries boost purchases to replenish stockpiles and keep a lid on food inflation.
Exports will probably climb to 8 million tons this year as a weak currency boosts competitiveness and countries such as China look to rebuild inventories before the Lunar New Year holidays, said Chookiat Ophaswongse, honorary president of Thai Rice Exporters Association. Shipments could hold at a similar level through next year, he said.