Thai rice exporters are expected to gradually shift to trading in euro to mitigate the impact of the US dollar’s continued weakening against the baht, which has hurt their revenue, industry experts said. Nearly 90 per cent of the exporters’ turnover is denominated in dollars. Rice is the country’s biggest agricultural export, helping to boost the total value of Thailand’s agricultural exports in October to US$2.4 billion (Bt79.8 billion).
Korbsook Iamsuri, CEO of Kamolkij, a major exporter of parboiled rice, said that although the rice price is expected to increase gradually next year on higher global demand, exporters are worried about the stability of the baht against the greenback.
“The US dollar is likely to remain weak against the baht and other currencies next year. It will be difficult for Thai rice exporters to offset losses from the baht’s appreciation. Thai rice prices quoted in US dollars will also be high compared with other [countries’] rice prices,” said Korbsook.
Bangkok 7th World Most connected city to China
Bangkok also ranks 3rd in terms of the volume of Chinese corporate leasing activity over the last three years, according to a new report from real estate consulting firm JLL.
While China’s biggest corporates are increasingly flexing their global muscle as the country’s economic and geopolitical influence accelerates, Bangkok is the 10th most popular destination for mainland firms expanding overseas. (more…)
Thailand’s Special Economic Zones (SEZ) and new opportunity connected
The SEZ policy was first launched in 2015 based on the government’s belief in the strong potential of the 10 areas to connect with the neighboring countries in terms of trade, economy and investment
With its strategic location in the center of ASEAN with emerging markets, including Cambodia, Laos, Myanmar, Malaysia and southern China, on its border, Thailand is well position to connect investors to new opportunities arising from the increasing border trade and the region’s rapid economic growth.
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