Illustrative photo (Source: APF/VNA) Bangkok (VNA) – Thailand’s rice exports plunged by 23percent year-on-year in the first quarter of 2021 to 1.13 million tonnes due toits higher prices than those of competitors.
According to Charoen Laothammatas, president of the ThaiRice Exporters Association, export value from January to March dropped to 21.8billion THB (some 700 million USD), down 23.6 percent from the same period lastyear.
As reported by the local newspaper Bangkok Post, factorsbehind the high rice prices include the strong baht, higher freight costs andlower domestic supply caused by drought, which lasted for two consecutiveyears.
In March alone, Thai rice exports fell 25.8 percent to302,668 tonnes, with value down by 18.8 percent to 6.26 billion THB from thesame period last year.
Thailand is the world's third largest rice exporter afterIndia and Pakistan.
Charoen said Thai rice exports were expected to rise to400,000 tonnes in April, compared to India. He expected better rice exportprospects in the third and fourth quarters and hoped to see more supply in therainy season.
If domestic output rises, domestic prices will fall,enabling Thailand to better compete with India.
The country aims to export 6 million tonnes of rice thisyear./.
VNA
