May 6, 2008
Bangkok - World and Thai rice prices will not be affected though Myanmar was hit by Cyclone Nargis, according to the Rice Exporters Association.
It was reported the Cyclone Nargis damaged Myanmar’s two biggest rice growing areas.
The cyclone-hit Myanmar is due to deliver its rice to Sri Lanka and Bangladesh this month.
The Rice Exporters Association president Chookiat Ophaswongse said the event would not affect the world rice prices as Myanmar only exports 40,000-50,000 tons of rice per year.
Myanmar targets to export 300,000-400,000 tons of rice this year.
But it may have to cancel the export plan to ensure there will be sufficient rice for domestic consumption.
The Asian region’s GDP figures may drop to 3.4%-4.2% next year, according to the Asian Development Bank (ADB).
