Thailand has lost its position as the world’s largest exporter of rice. In 2012, rice exports from the Kingdom fell 37%, causing the country to fall to third place in rankings of the world’s largest rice exporters.
Last year, Thailand exported 6.73 million metric tons of rice, which in turn netted USD4.63 billion at market. Compare this with two years ago, when Thailand exported 10.7 million metric tons of rice for the price of USD6.43 billion.
The Bangkok Post is blaming the decline in rice exports on a government program aimed at bolstering Thailand’s rice farmers by purchasing the commodity at greater-than-market prices. Once purchased, this rice is stockpiled, rather than exported, driving down the country’s overall export figures.
