Bangkok (VNA) – Thai rice exports are likely to stay below targets as the strong baht weakens
competitiveness in the world market.
Honorary president of the Thai Rice Exporters Association Chookiat Ophaswongse said Thai rice shipments may drop to as low as 8 million tonnes this year, led by a sharp decline in white rice
He predicted that the continued strong baht, which makes Thai rice more expensive than grains from other countries, will lower white rice shipments by up to 35 percent from 5.49 million tonnes last year, adding that Thailand’s rice exports totalled only 6 million tonnes at the end of September.
The free-on-board prices of Thai 5 percent white rice are 400 USD a tonne, while those of Vietnamese rice are at 320 USD a tonne.
Prices for paddy rice in Vietnam are also much lower, at 5,600 THB (183.67 USD) per tonne, while those of Thai rice are at 7,500-7,800 THB a tonne.
Chookiat said the Vietnamese currency has been quite stable since last year, adding that because of the strong baht, buyers like the Philippines, Indonesia and Malaysia are projected to switch to
buying rice from Vietnam instead of Thailand.
Normally Thailand’s rice exports average 10 million tonnes a year, with white rice making up half the amount. Chookiat said white rice shipments may reach just 3 million tonnes this year.
In July, the association lowered its target for the country’s annual rice exports from 9.5 million tonnes to 9 million. Of the total, white rice will account for 3.9 million tonnes.
According to the latest report by the Thailand’s Commerce Ministry, rice exports fell by 26.3 percent to 5.3 milliontonnes in the first eight months, while export value slid 22 percent to 2.87 billion USD.
In a move to boost rice exports, the Trade Policy and Strategy Office of Thailand will ask the commerce minister to pay a visit to Asian buyers like the Philippines and China./.
Thai Mango growers complain of low prices and fewer exports
Because of the global COVID-19 pandemic, their mangoes are not being exported, due to fewer buyers, and their prices have plunged to between 10 and 20 baht per kilogram, depending on size.
Mango orchard owners in Thailand’s northern province of Phitsanuloke are seeking help from the provincial administration to promote the sale of their sweet fruit, particularly Barracuda Mango variety.(more…)
Covid-19 and food security: can emerging economies mitigate rising prices?
The Food Price Index, established by the UN’s Food and Agriculture Organisation (FAO) to track monthly changes in international food prices, rose for the eighth consecutive month in January, primarily as a result of Covid-19.
An increase in food prices following the coronavirus pandemic has intensified concerns related to global food security. For emerging markets, this has further underlined the importance of regional cooperation and innovative solutions to help overcome the challenges.(more…)
More COVID-19 restrictions are relaxed in Thailand from 16 October 2021
Bangkok, 16 October, 2021 – The Tourism Authority of Thailand (TAT) would like to provide an update that more COVID-19...
China’s economy stumbles on power crunch
BEIJING (Reuters) – China’s economy hit its slowest pace of growth in a year in the third quarter, hurt by power shortages, supply chain bottlenecks...
Quarantine-Free Thailand Reopens for Vaccinated Tourists From 1 November 2021
The Tourism Authority of Thailand (TAT) would like to confirm that Thailand is all set to welcome fully vaccinated foreign...
The ASEAN-India Trade in Goods Agreement
The ASEAN-India Trade in Goods Agreement (the “Agreement”) is a trade deal between the ten member states of ASEAN and...
Bangkok lifts more COVID-19 restrictions
In response to the Royal Thai Government’s announcement to relax more COVID-19 controls in the dark-red zone provinces, which include...