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Rice The Potential for this Commodity for the Future of Thailand

One of the problems that plague the growth of the rice market in 2010 is the rise in the number of natural disasters that have diminished the stock of the grain. Monsoons, earthquakes, and landslides have affected the stock, causing an impending possibility of a shortage. The predicted effect of these issues suggests that a 1.9% decrease in production for 2009 has taken place in compared to the growth in 2008. Countries such as Afghanistan, Cambodia, China, Myanmar, Thailand, Korea, and Vietnam have all shown good crops for the year while India, Bangladesh, Taiwan, Iraq, Japan, Nepal, Pakistan, the Philippines, and Sri Lanka all saw shorter crop production due to unforeseen circumstance. In a country such as Thailand, using the advantage of a surplus in a high demand market must be considered in order to create the most profit for the nation. the pace of about 5.6% per year making rice a good prime source of income for a nation (141). According to Science Daily: Science News (2006), rice serves the largest staple crop, providing 20 percent of the calories that are consumed worldwide. Although 20 percent represents the world, 30 percent represents the Asian market. The cultures in Asia typically consume rice with every meal. According to Toriyanna (2005), Europe consumed 1% of its calories in rice from 1970 to 1990, but in the span of 11 years, that figure had doubled to 2% (8). Most of the rice sold in the world comes from Asia. Ninety-one percent of the market belongs to countries from this part of the world. The other break down of production comes with 3% from South America, 2% from Central and North American, 3% from Africa and 1% from Europe (Toriyama 2005: 10). According to an article in the New York Times (2008), Thailand is the largest exporter of rice in the world holding 30% of the market with jasmine rice being the most coveted style of rice sold out of Thailand.