The government has no choice but to release its rice stockpile before the new harvest enters warehouses in October, a UN Food and Agriculture Organisation (FAO) representative says.
Hiroyuki Konuma, FAO assistant director-general and regional representative for Asia and the Pacific, said the government will have to forego its expectation of fetching higher global prices.
"In 2010 and 2011, Thailand was able to export 10 million tonnes of rice, fetching a good price and earning a good reputation," he said. "Thailand should be able to reclaim that status if it adjusts its export price and maintains rice quality."
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