rooster59 Posted September 21, 2019 Share Posted September 21, 2019 Thai rice exports may drop below 10 million tonnes this year 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/ -- © Copyright Thai PBS 2019-09-21 Follow Thaivisa on LINE for breaking Thailand news and visa info Link to comment Share on other sites More sharing options...
keith101 Posted September 21, 2019 Share Posted September 21, 2019 Do something about the strong thai baht and then be able to compete with other countries . Link to comment Share on other sites More sharing options...
Tayaout Posted September 21, 2019 Share Posted September 21, 2019 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! Link to comment Share on other sites More sharing options...
billd766 Posted September 21, 2019 Share Posted September 21, 2019 12 minutes ago, Tayaout said: Who said it's a problem. The farmers will get subsidies and will stay poor but they get a job! 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. Link to comment Share on other sites More sharing options...
Tayaout Posted September 21, 2019 Share Posted September 21, 2019 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. Link to comment Share on other sites More sharing options...
kokesaat Posted September 21, 2019 Share Posted September 21, 2019 When we visit Texas we shop at the Asian stores there. They sell Vietnamese jasmine rice and Thai jasmine rice. We buy whatever is cheaper, usually the Vietnamese by a few dollars/25pound. We consider ourselves pretty good judges of rice, having eaten the stuff for nearly 50 years together. We can't tell any difference between the two. Link to comment Share on other sites More sharing options...
billd766 Posted September 21, 2019 Share Posted September 21, 2019 30 minutes ago, Tayaout said: Exporter probably get tax cut. Your post make a lot of sense but the problem is that you use logic and analysis. Of course I use logic. I am a farang and not a Thai leader. Link to comment Share on other sites More sharing options...
30la Posted September 21, 2019 Share Posted September 21, 2019 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! Link to comment Share on other sites More sharing options...
ChipButty Posted September 21, 2019 Share Posted September 21, 2019 Thailands loss Link to comment Share on other sites More sharing options...
30la Posted September 21, 2019 Share Posted September 21, 2019 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! Link to comment Share on other sites More sharing options...
geisha Posted September 21, 2019 Share Posted September 21, 2019 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 . Link to comment Share on other sites More sharing options...
Isaan sailor Posted September 21, 2019 Share Posted September 21, 2019 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. Link to comment Share on other sites More sharing options...
Acharn Posted September 21, 2019 Share Posted September 21, 2019 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. Link to comment Share on other sites More sharing options...
Autonuaq Posted September 21, 2019 Share Posted September 21, 2019 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 Link to comment Share on other sites More sharing options...
ThePioneer Posted September 21, 2019 Share Posted September 21, 2019 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. Link to comment Share on other sites More sharing options...
Tayaout Posted September 21, 2019 Share Posted September 21, 2019 6 hours ago, Autonuaq said: They also buy rice from India. the importers of thai rise is also complain the thai rise is lower in quality, not sure why I read that lower quality Cambodian and Vietnamese rice is smuggled into Thailand then mixed with Thai rice. Link to comment Share on other sites More sharing options...
Thechook Posted September 21, 2019 Share Posted September 21, 2019 Thai rice is to bloody expensive now. The wife always purchased thai rice in bulk but no longer does as she says Australian rice is now cheaper Link to comment Share on other sites More sharing options...
hotchilli Posted September 21, 2019 Share Posted September 21, 2019 10 hours ago, Autonuaq said: They also buy rice from India. the importers of thai rise is also complain the thai rise is lower in quality, not sure why Because Thai only consider quantity, only a few consider quality as a selling premium. Thai grow what they can & try to flog it the standard is immaterial! Link to comment Share on other sites More sharing options...
billd766 Posted September 22, 2019 Share Posted September 22, 2019 16 hours 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. 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. This is confusing me a bit, not being a money man myself. I found this on the BBC website dated 19 September. Isn't this currency manipulation? https://www.bbc.com/news/business-49760502 The US central bank has pumped more than $200bn (£160bn) into the financial system this week - the first time there's been such an intervention since 2008. This is a huge market, with some $3tn changing hands each day, according to the US Office of Financial Research. Under normal conditions, interest rates in the repo market are low, since the loans are considered safe and there's plenty of cash on hand. But this week the cost of borrowing shot up - toward 10% in some cases. And the rate at which banks lend to each other - the Fed's benchmark - exceeded 2.25%, the top of its desired range. The rise prompted the Fed to take action. Four times this week, it injected money into the market, offering to buy up to $75bn in treasuries or other assets from banks in a bid to boost bank reserves and keep them lending. Link to comment Share on other sites More sharing options...
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