NONTHABURI, July 22 (TNA) – Thai Rice
Exporters Association cut its projection for 2020 rice exports from 7.5 million
tonnes to 6.5 million tonnes, the lowest volume in 20 years.
Pol Lt. Charoen Laothamatas, President of the Thai
Rice Exporters Association said that in the first six months, Thailand shipped
3.14 million tonnes of rice, down 32.7% from the same period last year, with an
export value of US$2.2 billion, down 12% year-on year.
Thai rice exports was likely to plunge due to many
negative factors such as a strong baht continued drought cutting into
production, he said.
Moreover, soft rice was popular among major
importers like the Philippines and Malaysia but Thailand could not produce much
enough to meet the demand.
Speaking about other factors, he said that the price
of Thai white rice is US$460 per tonne, higher than that
of its competitor, Vietnam by US$100. China has a large volume of rice
stockpile with low demand for rice imports and it also exports more rice to
Africa.
The coronavirus crisis also weakened consumers’
purchasing power, he added.
Rice exports is forecast to slow down in the second
half of this year due to purchases of relatively high rice volume at the
beginning of the coronavirus outbreak in April.
The president said the association downgraded its
projection for 2020 rice exports from 7.5 million tonnes to 6.5 million tonnes
worth US$4.2 billion, the lowest in two decades.
The association called for the government’s new
economic team to solve the problem quickly to increase competitiveness, to curb
the appreciation of Thai baht and to push ahead with the 10-year strategic rice
plan. (TNA)
