Thai government official Anucha Burapachaisri said the target for rice exports has been raised to 7.5 MMT. The official cited both higher domestic production, and a rebounding global economy that has elevated the value of rice. In truth, Thai rice exports are highly correlated to production, which is just now returning to the output level of five years ago.  Production has been hampered by weather and other factors. Rice exports are most strongly correlated to the country’s yield, and that nosedived in 2019/20 and has now rebounded, though not to the level seen in 2017/2018. The government says it will improve rice breeding to regain the country’s position as the world’s largest rice exporter.  ...

TAGS – Softs, Asia