Rice shipments from Thailand, the largest supplier after India, are likely to decline about 4% this year amid increased competition from Vietnam and other producers. Exports will total 9.5 million tonnes in 2017, Chookiat Ophaswongse, the honorary president of the Thai Rice Exporters Association, said Wednesday in an interview.

Fore Two Day Free Trial Click Here www.ripplesadvisory.com.

That compares with 9.88 million tonnes in 2016, according to data from the Ministry of Commerce.Competition from Vietnam may cut white rice exports by about 400,000 tonnes to 4.6 million tonnes even as sales of premium jasmine grade rise climb about 9% to 2.5 million tonnes, Mr Chookiat said.

The forecast drop in exports comes as the US Department of Agriculture expects global rice consumption to lag behind production for the 12th straight year, limiting any price upside.Prices of Thai white rice, a regional benchmark, have changed little over the past year and were at $375 a tonne on Jan 25. Vietnamese white rice is quoted at $434 a tonne and Indian rice at $370, according to data from the association's website.