Thailand's rice to top as poor rains hit India’s crop

Mumbai/Bangkok: Thailand is set to reclaim its status as the world’s top rice exporter as weak monsoon rains curb India’s crop, helping the Southeast Asian country’s new military government offload bulging stockpiles.

Fewer Indian exports would allow Bangkok to win better prices for the grain that it has been selling at a huge discount, curbing losses on the stocks built up under a costly state intervention scheme.

“It is a good opportunity for Thailand to manage its huge stocks at competitive prices,” said Kiattisak Kallayasirivat, managing director of Bangkok-based Novel Agritrading Co Ltd.