BANGKOK – Thailand’s rice exports are forecast to fall this year due to lower output caused by drought and weaker competitiveness, says the Thai Rice Exporters’ Association.
Although Thailand shipped nearly 600,000 tonnes of rice in April the outlook for Thai rice exports remained grim, said the Association, citing the COVID-19 lockdown measures’ impact on Thai competitors such as Vietnam and India.
The Association said Thailand exported 1.46 million tonnes of rice in the first quarter, a 39.1 percent drop from the same period of last year.
Thailand’s domestic demand continues to grow as the total output is expected to drop this year due to drought. Therefore, prices of Thai rice are higher than the competitors in the global market, the Associations’ statement says.
The exporters group earlier predicted rice exports in 2020 to fall to the lowest in seven years.
Drought disaster has been declared in many rice-producing provinces in Thai North and Northeast. (TNA)