Thailand aims to cut rice output and increase exports

Monday, 23 January 2017 00:07 - - {{hitsCtrl.values.hits}}

BANGKOK (Reuters): Thailand will aim again to cut rice production this year while also increasing exports, a government official said.

The world’s second biggest rice exporter failed in its attempt to get farmers to grow less in 2016 despite weak prices. It still holds a stockpile of eight million tons resulting from a previous government’s subsidy scheme. Thailand will target paddy rice production of 25 million to 26 million tons for 2017 to 2018, Wiboonlasana Ruamraksa, the commerce ministry’s permanent secretary told reporters after a meeting of the government’s rice management committee. The country produced about 30 million tons of rice in the last crop year.

“The government seeks to reduce rice growing areas,” Wiboonlasana told reporters. She said Thailand wanted to increase exports to 10 million tons, from 9.63 million tons in 2016, when it was second only to India. The agriculture ministry would be in charge of drawing up this year’s rice production plan, Wiboonlasana said. Thailand announced a similar goal of curbing production at 27 million tons last year, but failed to get farmers to grow less rice and turn to other crops.