Thailand’s 2020 rice exports forecast to hit lowest in 20 years
The Thai Rice Exporters Association on July 22 predicted that the country’s 2020 rice exports will drop to 6.5 million tonnes, the lowest volume in two decades, owing to drought and a strong baht currency.
Thailand's rice exports are forecast to drop to 6.5 million tonnes this year (Photo: AFP)
Bangkok (VNA) - The Thai Rice Exporters Association on July 22predicted that the country’s 2020 rice exports will drop to 6.5 million tonnes,the lowest volume in two decades, owing to drought and a strong baht currency.
The association’s latestforecast for Thailand, the world’s second-largest rice exporter last year, islower than its previous expectation of a seven-year low of 7.5 million tonnesfor 2020.
It attributed that to a persistently strong baht compared toother currencies and drought cutting Thai rice output by 5 million tonnes thisproduction season, making prices higher and uncompetitive.
“The new forecast of 6.5 million tonnes is the lowest volume in20 years,” said Chookiat Ophaswongse, honorary president of the Thai RiceExporters Association, adding the previous low was 6.15 million tonnes in 2000.
From January to June, Thailand exported 3.14 million tonnes ofrice, about a third less than the same period last year, the association’s datashowed, less than India’s 4.53 million tonnes and the 4.04 million tonnesshipped by Vietnam.
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The price of Thai rice is higher than that of competitors due to limited supply and the strengthening of the baht, which could hurt exports, the Thai Rice Exporters Association (TREA) said.
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Thailand's rice exports are forecast to drop to 6.5 million tonnes this year (Photo: AFP) 
