Thai rice exports expected to be higher this year as India stays away
Despite the ongoing flood crisis, Thailand’s rice exports are expected to surpass last year’s figures. The Thai Rice Exporters Association predicts rice production will reach 33-34 million tons, up from 32 million last year, with minimal impact from flooding in key regions. The first nine months of 2023 saw 7 million tons exported, and further growth is anticipated due to pending orders and India’s export ban. However, concerns arise about future competitiveness if India resumes white rice exports. For more details, visit Krungthep Turakij.
Thailand’s rice exports this year are expected to be higher than last year despite the flood crisis, the Thai Rice Exporters Association said on Wednesday. Association president Chookiat Ophaswongse told Krungthep Turakij that the impact of the floods on rice production was not clear yet, saying the country’s most important rice plots in the Northeast have not been impacted by the floods.
Chookiat expects this year’s rice production to be around 33-34 million tons of paddy, higher than the 32 million tons last year.
Rice production in the lower North would be affected a little by the flood, but the production would continue once the floodwaters recede, he said.
He added that Thailand’s rice production, especially jasmine rice, would be severely affected if rice plots in Ubon Ratchathani province were flooded.
He said water resources are crucial for rice cultivation next year, especially the Bhumibol Dam which is currently at 71% in water capacity. Rice cultivation in the Central region is not worrisome if there are no storms in the country, he said.
He added that Thailand’s rice price depends on the market mechanism: The higher the supply, the lower the price.
Chookiat noted that Thailand had exported 7 million tons of rice in the first nine months this year. He expects further growth in exports due to pending rice orders and India’s ban on export.
However, he expressed concern about exports next year if India resumes sales of white rice. He said India gained a price advantage over Thailand, adding the baht’s volatility would also affect Thailand’s competitiveness.
Source Link : https://www.nationthailand.com/business/economy/40042410
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