According to the reports the government of Thailand is hoping to export over 10 million tons of rice in 2016 despite a likely fall in this year’s rice output. The stockpiled rice accumulated under the previous government is expected to offset the possible decline in production.
It has been indicated by the Commerce Minister that the military government holds about 13 million tons of rice stocks and it seeks to sell all the stockpiled rice by the end of next year. While, the analysts are very much concerned over the deteriorating quality of rice stocks.
As it has been narrated that the El Nino induced drought conditions are likely to lower the Thai paddy rice production to around 22.98 million tons in 2015-16, which is down about 30% around 32.62 million tons from the last year and lowest since 1996-97. Further, the government has advised farmers to avoid planting for dry season crop due to decline in water reservoir. However, the Thai Rice Exporters Association (TREA) is expecting the country to export around 10 million tons of rice this year.
Further, as per data indicated by the Commerce Ministry that the South East nation has exported around 6.9 million tons of rice during the period January 1 to September 22, 2015, which is lower about 5% from around 7.26 million tons exported during the same period last year.