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Thai rice exports may drop below 10 million tonnes this year

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Thai rice exports may drop below 10 million tonnes this year

 

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The value of Thai exports for the month of August fell 4% to 21.915 billion US dollars, compared to the same period last year, with exports of rice declining by an alarming 44.7%, sparking concern among commerce officials that Thailand’s rice exports for this year will fail to reach 10 million tonnes.

 

Ms. Pimchanok Wornkhorporn, director of the Office of Trade Policy and Strategy at the Commerce Ministry, said today (Friday) that Thai exports have contracted for six consecutive months to a total of 166.091 billion US dollars, representing a 2.1% decline compared to the same period last year.

 

Imports for August dropped 14.6% to 19.862 billion US dollars, resulting in a 2.053 billion baht trade surplus.

 

Full story: https://www.thaipbsworld.com/thai-rice-exports-may-drop-below-10-million-tonnes-this-year/

 

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-- © Copyright Thai PBS 2019-09-21

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11 minutes ago, keith101 said:

Do something about the strong thai baht and then be able to compete with other countries .

Who said it's a problem. The farmers will get subsidies and will stay poor but they get a job! 

Edited by Tayaout
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12 minutes ago, billd766 said:

Meanwhile all the Thai exporters are hurting badly because of the thb and "they" don't get subsidies.

 

If the thb forex rate is lower, ALL exports from Thailand become cheaper, thus they can export more and that includes rice, so the farmers will be able to sell more and the government will pay less in subsidies.

Exporter probably get tax cut. Your post make a lot of sense but the problem is that you use logic and analysis. 

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Did you really believe that Thailand is the only country for rice cultivation?
With your monetary policy you will see that you will have to give up a lot of export points! Not just in rice!

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2 minutes ago, ChipButty said:

Thailands loss 

The monetary policy of the central bank and the government sees only rich as winners, all the others remain with less than before!

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Well Thailand (and more specifically, Bank of Thailand), this time you’ve really shot yourself in the foot.  Hot money inflows have killed the USD and other western currencies. Your nonsense has gone on for over two years.  So will your supreme master, the ChiComs buy overpriced rice?  They’d probably want cheaper Indian, Vietnamese or Cambodian Rice, too.

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6 hours ago, billd766 said:

Meanwhile all the Thai exporters are hurting badly because of the thb and "they" don't get subsidies.

 

If the thb forex rate is lower, ALL exports from Thailand become cheaper, thus they can export more and that includes rice, so the farmers will be able to sell more and the government will pay less in subsidies.

Yes, which is why the U.S. government has sanctions against governments as currency manipulators if they interfere to keep their currencies weak against the dollar. The governor of Bank of Thailand pointed this out a couple of weeks ago. Apparently because of the U.S.-China trade war a lot of money is coming into Thailand, causing the strong baht. 

Edited by Acharn
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3 hours ago, geisha said:

For the first time in 35 years the importers in France , and probably every other European country, are buying Cambodian and Vietnamese rice which is much cheaper than the Thai. THere is no more demand for the thai products in general .

They also buy rice from India.

the importers of thai rise is also complain the thai rise is lower in quality, not sure why

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49 minutes ago, Acharn said:

Yes, which is why the U.S. government has sanctions against governments as currency manipulators if they interfere to keep their currencies weak against the dollar.

 

Of course, because manipulating ones currency is the privilege of the orange clown only.

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