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Rice Output 'Smallest in Eight Years'
29 June 2010
THAILAND – Production of rice in Thailand, the world's largest exporter, could plunge to its lowest level in eight years, an industry organisation has said.
According to Bloomberg, the Food and Agriculture Organisation suggested that Thailand's rice crop faces severe damage from an ongoing drought.It is thought that the nation's total output may be as little as 22 million tonnes in the year starting in October – potentially its worst yield since 2002.
Concepcion Calpe, a senior economist from the United Nations' agency, played down the problem, however, asserting that an increased second crop could compensate for the current shortfall.
She told Bloomberg: "More than one crop is produced every season. The sector has much scope for making up an earlier shortfall by planting more subsequently."
Meanwhile, estimates for South Korea's wheat planting have more than doubled this season, exceeding government forecasts.
Last week, BusinessWeek reported that authorities in the country, Asia's second-biggest importer grains, had encouraged greater domestic production to secure supplies, following a global price surge in 2008.
TheCropSite News Desk
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