BANGKOK, May 17: Thailand’s rice exports are expected to dip slightly this year but prices are seen stronger, a minister said on Saturday.

Thai Commerce Minister Adisai Bodharamik told reporters the country’s rice exports were likely to fall 2.7pc to 7.3 million tons, from 7.5m tons in 2002.

We probably will not be able to export 7.5 million tons, but prices should be higher than last year, he said, adding that prices should average $237 per tonne this year, up 21 per cent from last year.

We will try to speed up exports more in the middle of the year, he said.

Thailand, the world’s number-one rice exporter, has suffered from stiff competition from China, Vietnam, India, the United States, and Pakistan.

Of major exporting countries, all but Thailand has seen their exports grow.

Adisai said Thailand was making another tender offer to sell 100,000 tons of 25 per cent grade rice to the Philippines at $191 per ton. The tender winner will be announced on Friday.

Last Thursday the Philippines agreed to purchase 200,000 tons of Thai rice at $194.75 per ton. Half of the order will be shipped in June and the other half in August, Adisai said.

Demand from the Philippines is expected to exceed 800,000 tons this year, he said.—Reuters