webfact Posted October 4, 2020 Share Posted October 4, 2020 Strong baht, low production pull down Thai rice exports By The Nation Thailand’s rice export this year is expected to drop from 7.5 million tonnes worth Bt130 billion last year to 5 million tonnes worth Bt115 billion, honorary president of the Thai Rice Exporters Association Chookiat Ophaswongse said. He attributed the drop to the strengthening baht and low rice production. The price of Thai white rice is currently around US$490 per tonne, compared to Vietnamese white rice at $460 per tonne, Indian at $370 per tonne and Myanmar at $420 per tonne. White rice accounts for 50 per cent of Thailand’s total rice exports. He said Malaysia has only purchased 40,000 tonnes of Thai white rice this year, compared to its usual 400,000 tonnes per year, adding that it has switched to rice from Vietnam, India and Myanmar instead. Meanwhile, the Philippines has imported 1.8 million tonnes of rice this year, 1.7 million tonnes of which came from Vietnam and only around 60,000 tonnes came from Thailand. Previously, Thailand used to export around 500,000 tonnes of rice to the Philippines. Separately, Thailand has exported 4 million tonnes of rice in the first nine months of this year, averaging at between 300,000 and 400,000 tonnes monthly. If it wants to achieve the goal of exporting 6.5 million tonnes this year, then it will have to sell at least 500,000 tonnes monthly, which he said is difficult to achieve. Source: https://www.nationthailand.com/business/30395518 -- © Copyright The Nation Thailand 2020-10-05 - Whatever you're going through, the Samaritans are here for you - Follow Thaivisa on LINE for breaking COVID-19 updates 1 Link to comment Share on other sites More sharing options...
Popular Post Soikhaonoiken Posted October 4, 2020 Popular Post Share Posted October 4, 2020 No surprise here then, Thailand is no longer competitive with the strong Baht, not only in rice exports but many other exported Thai products, they have finally killed the golden goose. 17 2 Link to comment Share on other sites More sharing options...
Popular Post ozz1 Posted October 4, 2020 Popular Post Share Posted October 4, 2020 the hi so in bangkok think because it comes from thailand it will sell but it all comes down to price 14 1 Link to comment Share on other sites More sharing options...
Popular Post RotBenz8888 Posted October 5, 2020 Popular Post Share Posted October 5, 2020 Takes a bit more than a Thai sa-mile to be a hub these days. 1 5 Link to comment Share on other sites More sharing options...
2 is 1 Posted October 5, 2020 Share Posted October 5, 2020 (edited) Last year was so dry year ,now in our area look much better. Maybe even this year leave something to sell. Last year almost 50 % of rice died. I have never understand why coverment want keep BTH strong, that is not help this economy! But my friend was happy after sell hes house he get almost 40% profit when chance back to €! Edited October 5, 2020 by 2 is 1 2 Link to comment Share on other sites More sharing options...
mr mr Posted October 5, 2020 Share Posted October 5, 2020 deny deny deny deflect deflect deflect sawatdee krap 1 Link to comment Share on other sites More sharing options...
Popular Post hotchilli Posted October 5, 2020 Popular Post Share Posted October 5, 2020 7 hours ago, webfact said: He said Malaysia has only purchased 40,000 tonnes of Thai white rice this year, compared to its usual 400,000 tonnes per year, adding that it has switched to rice from Vietnam, India and Myanmar instead. Meanwhile, the Philippines has imported 1.8 million tonnes of rice this year, 1.7 million tonnes of which came from Vietnam and only around 60,000 tonnes came from Thailand. Previously, Thailand used to export around 500,000 tonnes of rice to the Philippines. Price is everything when quality is equaled in other countries, the baht strength has a lot to answer for. 6 Link to comment Share on other sites More sharing options...
robblok Posted October 5, 2020 Share Posted October 5, 2020 Not to bad, actually. I mean just look at the difference 1/3 less rice sold but the price has not gone with 1/3. Actually they have sold rice at a price 32% higher as the year before. Its far less bad then its looks. Sure its a drop in exports but not that bad given the rice price that went up. Link to comment Share on other sites More sharing options...
robblok Posted October 5, 2020 Share Posted October 5, 2020 Just now, hotchilli said: Price is everything when quality is equaled in other countries, the baht strength has a lot to answer for. Sure but they got a 32% higher price for the rice they sold. So i don't think its that bad. 12% down the export but price up 32%. Still i know that everyone including me would like a weaker baht. 1 Link to comment Share on other sites More sharing options...
Popular Post jollyhangmon Posted October 5, 2020 Popular Post Share Posted October 5, 2020 ... meanwhile in Cambo ... ???? ... 5 Link to comment Share on other sites More sharing options...
Popular Post Isaan sailor Posted October 5, 2020 Popular Post Share Posted October 5, 2020 No rain in July. Very little rain in August. That’s what killed rice for this year. And now the mighty Baht puts the final nail in the coffin. Amazing Thailand. 4 Link to comment Share on other sites More sharing options...
Popular Post charmonman Posted October 5, 2020 Popular Post Share Posted October 5, 2020 With lower exports, and the almost complete death of one of its major if not its largest industry (tourism) shouldn’t the currency be weak? Where is the demand for Thai currency coming from if no one outside Thailand wants or is able to buy Thai products and services? 5 2 Link to comment Share on other sites More sharing options...
Popular Post Matzzon Posted October 5, 2020 Popular Post Share Posted October 5, 2020 (edited) 13 hours ago, webfact said: Thailand’s rice export this year is expected to drop from 7.5 million tonnes worth Bt130 billion last year to 5 million tonnes worth Bt115 billion, honorary president of the Thai Rice Exporters Association Chookiat Ophaswongse said. And again everybody can clearly see that the counting capabilities in Thailand is lacking big time. How in the world are they capable of winning math contests time after time? 7,5 million tonnes for 130 and 5 billion tonnes for 115 billion, That means the 2,5 million tonnes lost in export is only worth 15 billion in todays value. What is most astonishing is that today every 2,5 million tonnes have a value of 57,5 billion, while last year the value for same amount of rice was 43,3 billion. As the export price of the rice is quite stable on the world market seen year on year, that would mean the baht would have risen about 25-30% against the dollar during the period of one year. The fact is that at the same time one year ago you got almost 33 baht against todays value of about 32. Go figure. ???? The fact is that from oct last year until oct this year, the Thai rice price have gone up about 8%. So, in other words, another useless piece of news with no foundation in reality. Edited October 5, 2020 by Matzzon 3 Link to comment Share on other sites More sharing options...
Popular Post Cake Monster Posted October 5, 2020 Popular Post Share Posted October 5, 2020 Thai Authorities looking at the picture through those special Rose Tinted Specs they possess. With 2 of their biggest Markets in Malaysia and Philippines only buying approx 10 % of their normal amount, the picture is not Rosey at all, and until the Baht is weaker, the Market will continue to contract for Thai Rice, which appears to be around 6 % more expensive than Vietnamese Rice. Looking at this as a " bell weather " for all Thai Exports, based purely on the Bahts strength, the doo-doo is going to hit the Fan big time soon on Autos, Plastics, and White Goods It will not be pretty. 3 Link to comment Share on other sites More sharing options...
Popular Post Robin Posted October 5, 2020 Popular Post Share Posted October 5, 2020 You do not get it, do you? The Baht must remain strong so that important imports like submarines, Benz., BMWs, remain cheap. How else are the HiSo. and top brass going to be able to enjoy life. This is fact of life in Thailand today. If your income depends on farm exports or tourism, tough luck. 6 Link to comment Share on other sites More sharing options...
sitti Posted October 5, 2020 Share Posted October 5, 2020 5 hours ago, charmonman said: With lower exports, and the almost complete death of one of its major if not its largest industry (tourism) shouldn’t the currency be weak? Where is the demand for Thai currency coming from if no one outside Thailand wants or is able to buy Thai products and services? Largest industry in Thailand is manufacturing. It is about 50% of GDP. Tourism is around 12% or so according to latest data of 2019. Thai baht is strong because Thailand doesn't print money. In contrast, US, EU, GB, Japan are all printing money like crazy, which makes those currencies less valuable and naturally makes Thai baht stronger. And Thai baht is backed up by gold. US dollar is just a paper with number on it. 1 Link to comment Share on other sites More sharing options...
kiwikeith Posted October 5, 2020 Share Posted October 5, 2020 On 10/5/2020 at 12:15 PM, ozz1 said: the hi so in bangkok think because it comes from thailand it will sell but it all comes down to price I have noticed that Thai Jasmine Rice here in NZ does not taste anywhere near what is was like a few years ago. Also I wonder about all those pigeons sitting on the storage buildings, pooping everywhere, they must get inside as well. Maybe the rice is getting a bit stale. Then there is the good old Thai BAHT which has been held high to long----anddd Somkid walked way from the government, he was a smart cookie he was Thaksin's finance minister this mob asked him to work for them, hes walked away now probably in disgust. Link to comment Share on other sites More sharing options...
teacherclaire Posted October 6, 2020 Share Posted October 6, 2020 A good "excuse" to give the poor rice farmers less money? Link to comment Share on other sites More sharing options...
Recommended Posts
Create an account or sign in to comment
You need to be a member in order to leave a comment
Create an account
Sign up for a new account in our community. It's easy!
Register a new accountSign in
Already have an account? Sign in here.
Sign In Now