Thailand’s rice sector is enduring one of its most difficult periods as a strong baht has made its exports uncompetitive. (Photo: bangkokpost.com) Hanoi (VNA) – Thailand’s rice sector is enduring one of its most difficult periods as a strong baht has made its exports uncompetitive, said Chookiat Ophaswongse, Honorary President of the Thai Rice Exporters Association (TREA).
Thailand is on course to lose its position as the world’s second-biggest rice exporter if the situation doesn’t improve, Chookiat said.
Despite efforts to reduce costs, the strong baht has kept making Thailand’s rice more expensive. The baht has strengthened more than 9 percent against the US dollar in the past year, the most in emerging markets, leaving rice exports exposed to more competition from major producers like India, Vietnam and China.
According to TREA, Thai white rice is selling at 425 USD per tonne, but that figure would be about 380 USD per tonne if the baht was at the same level now as this time last year./.
