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Thailand might not be the world’s biggest rice exporter this year

Vietnam will eclipse Thailand as the world’s biggest rice exporter this year as the government’s pledging scheme artificially inflates Thai prices, exporters predicted.

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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.

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Vietnam will eclipse Thailand as the world's biggest rice exporter this year as the government's pledging scheme artificially inflates Thai prices, exporters predicted.

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.

via Thailands rice exports likely to drop this year.

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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.

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Business

Large Shopping Malls in Bangkok Will Be Closed until July 25th

Shopping malls under the Mall Group, including all branches of The Mall, the Emporium, Emquartier and Paragon Department Store, are also closed for 14 days, from today, except for supermarkets, food courts, pharmacy shops, eateries (take-out and delivery only), banks, mobile phone shops and vaccination sites.

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BANGKOK (NNT) – Large-scale shopping malls in Bangkok and in some dark-red zone provinces are now closed for two weeks, to comply with the latest COVID-19 curbs in 10 provinces.

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