Thailand’s rice exports forecast to hit decade low
Thailand's rice exports are likely to plunge to 6.5 million tonnes this year, the lowest in the last decade, from an earlier projection of 7.5 million tonnes because of negative factors, according to the Thai Rice Exporters Association (TREA).
Bangkok (VNA) - Thailand's riceexports are likely to plunge to 6.5 million tonnes this year, the lowest in thelast decade, from an earlier projection of 7.5 million tonnes because of negative factors, according to the Thai Rice Exporters Association (TREA).
Local media on July 21 quoted TREA Honorary President ChookiatOphaswongse as saying that the group offered dim export prospects for thesecond half, and downgraded its rice forecast to only 6.5 million tonnes thisyear.
Chookiat said Thailand's rice exports arehampered by a host of negative factors, such as the COVID-19 crisis thatweakened global demand, a strong baht that makes Thai rice more expensive, orcontinued drought cutting into rice output.
Thailand's relatively more expensive prices have led buyers to opt for grainsfrom competitors, he added.
In 2019, Thailand exported 7.58 million tonnes of rice, earning131 billion baht (4.13 billion USD), down 32 percent in volume and 25 percentin value year-on-year. In the first five months of this year, the country shipped 2.57 million tonnes of rice abroadwith an export value of 54.2 billion baht, down 31.9 percent and 13.2 percent,respectively.
Chookiat said Thailand is estimated to export about3.5 million tonnes of rice in the second half of the year./.
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Illustrative image (Photo: bangkokpost) 
