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VIKRAM VARAL

EXIM TRADE IN COMMOD... • 3m

Thailand Seeks Cooperation with India, Vietnam to Support Falling Rice Prices. Thailand is actively seeking collaboration with India and Vietnam to address the issue of declining rice prices, as highlighted by Commerce Minister Pichai Naripthaphan. Amid protests by local farmers urging for increased government support, Thailand aims to work with these countries to alleviate competition pressures, stabilize global rice prices, and ensure a steady income for farmers. The current average paddy prices in Thailand have experienced a significant 30% decrease year-on-year, averaging around 8,600 baht per tonne, prompting farmers to advocate for assistance in selling rice at more favorable rates. As the world's second-largest rice exporter, Thailand faces challenges from the anticipated resurgence of rice exports from India, with projections indicating a potential 24% decrease in exports to 7.5 million tonnes this year.

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