Thailand could drop to the world’s third largest rice exporter, after Vietnam and India, as Thai rice exports slump to a decade low of 6.5 million tonnes.
Prices have collapsed in recent weeks as demand for the commodity evaporated owing to lockdowns and travel restrictions imposed worldwide to fight the virus.
Thai Rice Export Expected to Drop to 7.5m tons this year
This year’s projection for rice exports remains close to the previous year at 7.5 million tons, the lowest in seven years since 2013 when Thailand exported 6.6 million tonnes of rice.
Thailand struggles to regain world’s largest rice exporter title
In Thailand, a strong baht, Asia’s best performing currency in 2019, has kept away potential buyers who find cheaper markets elsewhere, such as in Vietnam.
Palm oil price guaranteed at four baht per kilogram
Commerce Minister Jurin said the price guarantee measure is one of the measures to deal with low palm oil prices. Other measures, such as using biodiesel B10 to produce electricity and tackling palm oil smuggling, have to be implemented
According to latest Agriculture Ministry’s survey, Thai farmers earned more income this year, as the output of rice, para rubber, fruit and corn has substantially increased.
