Thailand may retake spot as world's top rice exporter

Bangkok

TWO years after losing its place as the world's biggest rice exporter, Thailand is eyeing a return to the top spot as the impact of a bungled subsidy scheme eases and it sells cheaper grain to a grateful global market.

The subsidy, which offered farmers up to 50 per cent above market rates for their rice, helped former premier Yingluck Shinawatra win the rural votes she needed to take office in 2011.

But it also sent tremors through the world market before spectacularly unravelling, leaving Thailand with around 18 million tonnes of overpriced rice and Ms Yingluck skewered by a corruption charge.

Thailand was pushed off the top spot by India in 2012, as buyers hit back at the kin…