Post by account_disabled on Dec 25, 2023 23:05:33 GMT -5
Thai Rice Exporters Association Revealed that rice exports in the first half of the year were negative 32%, along with lowering the full-year rice export target to 6.5 million tons. Mr. Charoen Laothamathat President of the Thai Rice Exporters Association Revealing the situation of Thai rice exports in the first half of 2020, it was found that Thailand had already exported 3.14 million tons of rice, a decrease of 32% compared to the same period last year, with a value of 2,200 million USD, a decrease of 12%, resulting in Thailand's exports are ranked 3rd in the world, behind India and Vietnam respectively. The reason for the decrease in exports is due to drought problems causing rice production to decrease and the spread of COVID-19.
That affects the purchasing power B2B Email List of consumers and decreases The baht is stronger than its strong counterparts. Affecting the ability to compete In addition, current Thai rice varieties are not popular with consumers. As a result, important purchasing countries such as the Philippines and Malaysia have turned to purchasing more rice from Vietnam, especially soft ground rice varieties. which is in demand in the market Therefore, as a result, the association has adjusted its rice export forecast for 2020 from the original 7.5 million tons to 6.5 million tons, worth approximately 4,200 million USD. This is the lowest rice export in 20 years since 2000, when 6.148 million tons of rice were exported, which will be exported from now on in the second half of this year. It is expected that the average export will be 6 hundred thousand tons per month.
The supporting factor comes from the weakening of the baht. The price of rice in the country has decreased. Make it possible to be active However, As for the expectation that the new economic team that will take over the country will take care of economic policy, exports, especially the rice market. Including maintaining the value of the currency so that the private sector can compete. “Thailand's competition for rice exports in the world market will be difficult as there will be competitors, especially China, which has stocks of more than 117 million tons, which China is expected to expeditiously release. Indian produce is expected to be 115 million tons, which are all risk factors. And it is even more evident that at present the share of the Thai market is decreasing due to consumer behavior that favors softer rice more. Vietnam exports a large amount of soft rice to the market.
That affects the purchasing power B2B Email List of consumers and decreases The baht is stronger than its strong counterparts. Affecting the ability to compete In addition, current Thai rice varieties are not popular with consumers. As a result, important purchasing countries such as the Philippines and Malaysia have turned to purchasing more rice from Vietnam, especially soft ground rice varieties. which is in demand in the market Therefore, as a result, the association has adjusted its rice export forecast for 2020 from the original 7.5 million tons to 6.5 million tons, worth approximately 4,200 million USD. This is the lowest rice export in 20 years since 2000, when 6.148 million tons of rice were exported, which will be exported from now on in the second half of this year. It is expected that the average export will be 6 hundred thousand tons per month.
The supporting factor comes from the weakening of the baht. The price of rice in the country has decreased. Make it possible to be active However, As for the expectation that the new economic team that will take over the country will take care of economic policy, exports, especially the rice market. Including maintaining the value of the currency so that the private sector can compete. “Thailand's competition for rice exports in the world market will be difficult as there will be competitors, especially China, which has stocks of more than 117 million tons, which China is expected to expeditiously release. Indian produce is expected to be 115 million tons, which are all risk factors. And it is even more evident that at present the share of the Thai market is decreasing due to consumer behavior that favors softer rice more. Vietnam exports a large amount of soft rice to the market.