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Global rice rout expected to continue

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HANOI — Global rice prices will extend declines as Thailand is forced to offload grain from record stockpiles accumulated under its state-buying programme, according to the Vietnam Food Association, the main shippers' group. 

A flock of pigeons fly over a pile of rice drying in a courtyard at the Sahakorn Kan Kasert rice mill in U Ya, Suphan Buri province on Feb 17, 2014. (Photo by Bloomberg)

Exports to China and Africa from the second-largest shipper will drop this year on increased competition from Thailand as well as from India and Pakistan amid a global glut, said Truong Thanh Phong, chairman of the Ho Chi Minh City-based group.

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