Thailand’s rice export contraction in line with global slowdown

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BANGKOK, 5 October 2015 – The Thai Rice Exporters Association claims that Thailand’s rice exports have contracted in accordance with the global economic slowdown.

The Thai Rice Exporters Association reported on Sunday that the country’s overseas shipment of rice fell 28.5% from the same time last year, to 690,000 tons in August which were worth 11.14 billion baht.

During the first eight months of 2015, Thai rice exports contracted 10.7% year-on-year to 5.8 million tons. The total value of exports from January to August was 94.89 billion baht.

The Association said that it expects September exports of Thai rice to stand at 700,000 to 800,000 tons because of the weaker baht which should have benefited shipments as prices are expected to be more competitive on the international market.

However, it noted that the global economic slowdown will likely mean it is still a buyers’ market.