Thai rice exports expected to drop by 50 percent

Thailand's rice exports are expected to drop by 50 percent from November to January, due to the state buying policy and because of the flood disruptions. Thailand implemented the rice-buying policy at guaranteed prices last month to lift rural incomes even as the worst floods since 1942 wreak damage on farms. Lower Thai exports may benefit Vietnam and India, the second and third largest shippers. “The state policy will cause rice exports to fall by a greater extent than the effect of the flooding,” said Chookiat, who’s traded the staple for about 40 years. Read more ...