Rice Prices May Gain as Thailand Cuts Crop Outlook on Floods

Bloomberg, 24 Nov 2010Thailand, the world’s biggest rice exporter, said output from the nation’s main harvest may fall below its previous estimate as the worst floods in five decades devastated crops, supporting prices of Asia’s staple food.“This could be the worst damage to rice crops since the 2006 floods,” Theera Wongsamut, Agriculture and Cooperatives minister, said in an interview in Bangkok