Thailand’s rice exports projected to grow almost 15 percent this year
Thailand’s rice exports have been forecast to rise by 14.8 percent this year to 7 million tonnes driven by sufficient water supply.
Illustrative photo (Source: bangkokpost.com)According to the Thai Rice Exporters Association (TREA)'s report, the nation exported 6.11 million tonnes of grain last year, up 6.68 percent from 5.73 million tonnes 2020. Its export value totaled at 108 billion THB (3.25 billion USD), down by 7.14 percent from 116 billion THB in 2020.
TREA President Charoen Laothammatas said in 2022, higher demand is anticipated thanks to a global economic recovery, while a favourable foreign exchange rate should make Thai rice competitive.
For the 2021/2022 harvest season, the association expects the production to increase to 30-32 million tonnes of paddy, up from 27-28 million tonnes in the 2020/2021 season.
A widespread drought is unlikely this year, as happened two years ago, Charoen said. Given the ample water supply, he added second-crop rice production is also expected to increase.
He said the container shortage and lack of shipping space causing relatively higher freight rates are expected to remain key risk factors for rice exports.
TREA expects Thailand’s rice exports in January will tally 700,000 tonnes, slightly down from 729,138 tonnes worth 12.5 billion THB in December 2021./.
You should also see
Localities get ready for fourth FDI boom
As the year 2024 is expected to witness the start of the fourth wave of foreign direct investment (FDI) to Vietnam, localities nationwide are getting ready to absorb foreign capital flows.
See more
World
Malaysia to cut down on petrol subsidies this year
Malaysian Economy Minister Rafizi Ramli has announced that the country will reduce petrol subsidies this year to reduce its fiscal deficit.
World
El Nino thins the only glacier in Indonesia: BMKG
Global warming has played a key role in gradually thinning the glaciers atop Puncak Jaya, Papua, Indonesia, some of the few remaining tropical glaciers in the world, according to Indonesian Agency for Meteorology, Climatology, and Geophysics (BMKG).
World
Thailand welcomes over 10 mln foreign arrivals so far this year
More than 10 million foreign tourists have visited Thailand so far this year, bringing in more than 500 billion THB (13.5 billion USD), the country’s Tourism and Sports Ministry has reported.
World
Thailand's Maha Songkran World Water Festival welcomes over 784,000 festival-goers
The Tourism Authority of Thailand (TAT) claims that the “Maha Songkran World Water Festival 2024”, held at Sanam Luang and Ratchadamnoen Avenue from April 11-15 is a great success with more than 784,000 participants.
World
Indonesia enhances vigilance against money laundering
Indonesian President Joko Widodo on April 17 called on the Financial Transaction Reports and Analysis Center (PPATK) and related ministries to remain alert to new methods of money laundering, including those involving the cryptocurrency market.
