Live Rice Index
Thailand is one of the world’s leading exporters of rice and often produces an annual exportable surplus of around 10 million MTS milled. Since 2012 the market has felt the pressure of the large stockpiles built under the previous ruling party’s rice Pledging Scheme, which saw rice prices rise well above market rates and government stocks balloon to around 18 million MTS. The previous Prime Minster, Yingluck Shinawatra, is facing criminal proceedings relating to the scheme along with other members of the populist Pheu Thai Part. The current government of Prime Minister Prayat Chan-O-Cha has been reducing the old crop stockpile through a series of government auctions with much of the lower priced rice being exported to Africa. However, there are concerns regarding 2016’s off-season paddy production as deficient rains have led to very low water levels in the country’s dams with Chai River Basin’s largest dam, Bhumibol, reaching a low of 5% usable capacity in September 2015.
A wide selection of rice varieties are exported from Thailand, including 100% Grade B Long Grain White rice, Parboiled rice, Pathumthani and Hom Mali Fragrant rice and Glutinous rice.
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