The Thai Rice Exporters Association on Monday announced that the country’s rice exports will fall by 2.5-4 million tonnes to 6.5-8 million tonnes from last year’s 10.5 million tonnes.
Thai Rice Exporters Association President Korbsook Iamsuree said that rice exports face many obstacles this year. The US Department of Agriculture believes that the global rice trade will amount to 31.88 million tonnes, dropping from about three million tonnes from last year’s 34.78 million tonnes.
A major factor is India’s export policies with India resuming rice exports after a three year suspension. It has already allowed exports of two million tonnes of rice and added rice export permissions are likely to negatively impact Thai exports, in particular white rice and parboiled rice which could drop by another 1.5 million tonnes, she said. In addition, Thai rice prices are higher than their competitors due to the government’s rice mortgage scheme.
For example, Thailand’s five per cent white rice and five per cent parboiled rice, both exported at the same price, US$533 per tonne, while Indian rice is priced at $435 per tonne for five per cent white rice and $450 for five per cent parboiled rice. Vietnamese jasmine rice sales at $350-450 per tonne, cheaper than Thai rice. Vietnam has grabbed a share of Thailand’s current rice export market, in particular in Asia, according to Ms Korbsook.
Thailand’s H1 Investment Applications rise 158% in combined value, BOI says
Japanese firms ranked first with 87 projects worth 42.8 billion baht, followed by investments from the U.S. with 18 projects worth 24.1 billion baht, and China with 63 projects worth 18.6 billion baht.
In the first six months of 2021, Thailand’s investment applications increased 14% from the year earlier period in terms of the number of projects, and 158% in combined value, led by increasing foreign direct investment (FDI) applications, sustained growth in target industries including the electronics and medical sectors, as well as in power generation, the Thailand Board of Investment (BOI) said.(more…)
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