(Reuters photo)Oversupply of rice in global markets & competition from Vietnam means sluggish rice prices this year, but premium Jasmine rice may be a bright spot. Rice exports will total 9.5 million tonnes in 2017 compared with 9.88 million tonnes in 2016. This is according to data from the Commerce Ministry and Chookiat Ophaswongse, the honorary president of the Thai Rice Exporters Association. World rice production will increase 1.6% to 480 million tonnes and consumption will rise 1.5% to 477.8 million tonnes, according to the USDA. Despite the decline in Thai rice exports, sales of premium jasmine grade rise climb about 9% to 2.5 million tonnes.

Source: Bangkok Post February 03, 2017 06:25 UTC