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Thai Rice Production May Beat Forecast, Official Says |
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Friday, 06 November 2009 |
Bloomberg - Rice production in Thailand, the world’s biggest exporter, may beat a previous projection in the current crop year as increasing prices drive farmers to plant more, an official said.
Output in the crop year that began Oct. 1 may rise to as much as 35 million metric tons, Chairit Damrongkiat, deputy director general of the rice department, said in an interview in Bangkok yesterday. The department’s previous projection for the 2009-2010 crop was 32 million tons.
“We see lower global production,” Chairit said. “This provides us with an opportunity to increase output.”
India’s wet season harvest, which accounts for 80 percent of the country’s total output, may slump to 65 million tons, from 85 million tons a year ago, said Samarendu Mohanty, a senior economist at the Manila-based International Rice Research Institute.
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