Thailand risks slipping to 3rd place in rice exports.

Thailand risks losing its place as the world's second biggest rice exporter this year thanks to weaker competitiveness and a lack of rice varieties to cater to changing market demand.

Charoen Laothamatas, president of the Thai Rice Exporters Association, said amid stiff competition, relatively higher production costs than rivals such as Vietnam, volatile foreign exchange and widespread drought, Thailand risks falling to third this year, with Vietnam taking second place.

"Thailand has shipped the same rice varieties for 30 years and lacks rice variety development to deal with changing market demands and consumer behaviour," said Mr Charoen. "This year, the association has set a rice export target of 7.5 million tonnes, the same target as the Commerce Ministry, worth US$4.2 billion."

The target is the lowest in seven years since 2013 when Thailand exported 6.6 million tonnes of rice.

Thailand shipped 7.58 million tonnes in 2019, fetching 131 billion baht, down...