Thai rice exports facing price disadvantage
The price of Thai rice is higher than that of competitors due to limited supply and the strengthening of the baht, which could hurt exports, the Thai Rice Exporters Association (TREA) said.
Sacks of rice at a mall in Bangkok, Thailand (Source: VNA)Bangkok (VNA) – The price of Thai rice is higher than that of
competitors due to limited supply and the strengthening of the baht, which
could hurt exports, the Thai Rice Exporters Association (TREA) said.
TREA President Charoen Laothammathat cited data of the Customs Department that the country exported 2.11 million tonnes of rice worth 43 billion baht (1.38 billion USD), down 32.1 percent and 15.7 percent year-on-year respectively during the first four months of 2020.
The figure during the first four months of 2019 was 3.1 million tonnes worth 51 billion baht.
In April alone, Thailand exported 643,852 tonnes of rice, earning 14.55 billion baht, up 23.7 percent and 32.7 percent respectively compared to the previous month as countries in America, Africa and Asia imported more rice due to uncertainty following the COVID-19 outbreak.
The association expected the export of rice in May to drop to approximately 500,000 tonnes, as rice importing countries were delaying orders, while competitors Vietnam, India and Pakistan had returned to the market.
In addition, the price of Thai rice was higher than that of competitors due to limited supply and strengthening of the baht, he noted.
He explained that the price of 5 percent white rice in Thailand was 501 USD per tonne, higher than that of competitors by 30 USD to 130 USD.
In 2019, Thailand shipped 7.58 million tonnes of rice abroad, raking in 131 billion baht (over 4 billion USD), down 32 percent in volume and 25 percent in value compared to the previous year./.
TREA President Charoen Laothammathat cited data of the Customs Department that the country exported 2.11 million tonnes of rice worth 43 billion baht (1.38 billion USD), down 32.1 percent and 15.7 percent year-on-year respectively during the first four months of 2020.
The figure during the first four months of 2019 was 3.1 million tonnes worth 51 billion baht.
In April alone, Thailand exported 643,852 tonnes of rice, earning 14.55 billion baht, up 23.7 percent and 32.7 percent respectively compared to the previous month as countries in America, Africa and Asia imported more rice due to uncertainty following the COVID-19 outbreak.
The association expected the export of rice in May to drop to approximately 500,000 tonnes, as rice importing countries were delaying orders, while competitors Vietnam, India and Pakistan had returned to the market.
In addition, the price of Thai rice was higher than that of competitors due to limited supply and strengthening of the baht, he noted.
He explained that the price of 5 percent white rice in Thailand was 501 USD per tonne, higher than that of competitors by 30 USD to 130 USD.
In 2019, Thailand shipped 7.58 million tonnes of rice abroad, raking in 131 billion baht (over 4 billion USD), down 32 percent in volume and 25 percent in value compared to the previous year./.
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