BANGKOK, Jan 24: Top rice exporter Thailand is poised for another lucrative year in 2002, thanks partly to tighter rice supplies from other major Asian producers, traders and commerce ministry officials said.

Traders project Thai rice exports will exceed 6.5 million tons this year and senior commerce ministry officials predicted shipments could total seven million tons.

The commerce ministry projection would make 2002 a very bullish year for Thai rice trade, with foreign shipments at a level second only to the 2001 record of 7.52 million tons.

The United Nations Food and Agriculture Organization said in early January Thailand would reap another rice export bonanza in 2002 because of reduced competition from China, Pakistan and Vietnam.

Vichai Sriprasert, President of the Thai Rice Exporters Association, said Thailand was set to benefit from cuts in subsidies to rice producers in the United States and China, which are being imposed under World Trade Organization rules.

“Both China and the United States are moving away from rice output and export subsidies. We will get bigger markets if China cuts output by two million tons to meet its WTO obligations,” Vichai told Reuters.