Thailand has dropped to third place among the world’s largest rice exporters

million tons, down 26% compared to 5.29 million tons in the same period last year. As a result, Thailand fell from second to third place among the world’s largest rice exporters, losing to India and Vietnam. India’s return to the market with aggressive prices and weakening demand from key buyers, including Indonesia and the Philippines, were the main reasons for the decline in Thai rice exports, the FAS said. India, which has resumed exports, is offering significantly lower prices, which has increased pressure on Thai exporters. The Thai baht’s volatility has further undermined price competitiveness, FAS said. In addition, industry sources said tariff changes in the US have added price volatility to the premium jasmine rice segment. This makes it difficult for Thai rice to position itself in international markets, especially for premium varieties. Farmers’ incomes are also a concern, with rice prices remaining at historically low levels in August. “These domestic rice prices ...