- Thai Rice Exporters Association offered bleak export prospects and lowered its rice forecast to just 6.5 million tonnes.
- Rice exports from Thailand are hindered by a host of negative factors.
- Thailand shipped 7.58 million tonnes of rice worth 131 billion baht in 2019, down 32% and 25% from the previous year.
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Bangkok • Rice exports from Thailand are likely to drop from an earlier projection of 7.5 million tonnes this year to 6.5 million tonnes, the lowest in a decade, due to a deluge of negative factors, the Thai Rice Exporters Association says.
The honorary president of the Thai Rice Exporters Association, Chookiat Ophaswongse, reported after a discussion with officials from the Ministry of Commerce, including Minister of Commerce Jurin Laksanawisit, that the group offered bleak export prospects and lowered its rice forecast to just 6.5 million tonnes.
“Thailand’s relatively more expensive prices have led buyers to opt for grains from our competitors,” Mr. Chookiat said.
Thailand shipped 7.58 million tonnes of rice worth 131 billion baht in 2019, down 32% and 25% from the previous year.
Thailand’s rice exports are hindered by a host of negative factors like the coronavirus pandemic that weakened global demand, the strong baht that made Thai rice more expensive, and the continued drought that cut production.
Mr. Chookiat said Thailand is expected to be shipping about 3.5 million tonnes for the second half of the year. He projected 3 million tonnes shipped for the first half.
Thailand exported 2.57 million tonnes of rice in the first five months, down 31.9% from the same period last year, with an export value of 54.2 billion baht, down 13.2% over the same period.