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Thailand’s rice exports remain gloomy this year

Thailand’s rice exports are expected to recover slightly from an estimated 5.8 million tonnes in 2020, which was the lowest in 20 years due to weak global purchasing power caused by the COVID-19 pandemic, a container shortage and the strong baht.
Thailand’s rice exports remain gloomy this year ảnh 1Packs of Thai rice (Photo: VNA)
Bangkok (VNA) – Thailand’s rice exports are expected to recover slightlyfrom an estimated 5.8 million tonnes in 2020, which was the lowest in 20 yearsdue to weak global purchasing power caused by the COVID-19 pandemic, acontainer shortage and the strong baht.

Chookiat Ophaswongse, honorary president of the Thai RiceExporters Association (TREA), said he believes that rice exports will reach 6.5million tonnes at best this year, up from an anticipated 5.8 million tonnesworth 110-120 billion baht (3.65-3.98 billion USD) in 2020.

Rice exports remain gloomy this year, as consumers worldwideare likely to opt to save their money and buy rice at cheaper prices, hestated.

He took Malaysia as an example as the country has nowstarted buying more rice from India with cheaper prices, instead of Thailandand Vietnam.

According to him, the container shortage is another obstaclefor rice export prospects, citing the Thai National Shippers’ Council’s expectationthat the container shortage will last six months.

About half of rice exports now rely on shipping containers. Thecontainer shortage in Thailand has intensified since June 2020 after Chinaannounced an easing of lockdown measures and Vietnam ramped up its exports.

Thailand is estimated to face a shortage of more than 1.5million containers, according to the council./.
VNA
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