Thai rice exports may drop below 10 million tonnes this year

[rooster59]

Thai rice exports may drop below 10 million tonnes this year

 

 

The value of Thai exports for the month of August fell 4% to 21.915 billion US dollars, compared to the same period last year, with exports of rice declining by an alarming 44.7%, sparking concern among commerce officials that Thailand’s rice exports for this year will fail to reach 10 million tonnes.

 

Ms. Pimchanok Wornkhorporn, director of the Office of Trade Policy and Strategy at the Commerce Ministry, said today (Friday) that Thai exports have contracted for six consecutive months to a total of 166.091 billion US dollars, representing a 2.1% decline compared to the same period last year.

 

Imports for August dropped 14.6% to 19.862 billion US dollars, resulting in a 2.053 billion baht trade surplus.

 

Full story: https://www.thaipbsworld.com/thai-rice-exports-may-drop-below-10-million-tonnes-this-year/

 

-- © Copyright Thai PBS 2019-09-21

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[keith101]

Do something about the strong thai baht and then be able to compete with other countries .

[Tayaout]

11 minutes ago, keith101 said:

Do something about the strong thai baht and then be able to compete with other countries .

Who said it's a problem. The farmers will get subsidies and will stay poor but they get a job! 

Edited September 21, 2019 by Tayaout

[billd766]

12 minutes ago, Tayaout said:

Who said it's a problem. The farmers will get subsidies and will stay poor but they get a job! 

Meanwhile all the Thai exporters are hurting badly because of the thb and "they" don't get subsidies.

 

If the thb forex rate is lower, ALL exports from Thailand become cheaper, thus they can export more and that includes rice, so the farmers will be able to sell more and the government will pay less in subsidies.

[Tayaout]

12 minutes ago, billd766 said:

Meanwhile all the Thai exporters are hurting badly because of the thb and "they" don't get subsidies.

 

If the thb forex rate is lower, ALL exports from Thailand become cheaper, thus they can export more and that includes rice, so the farmers will be able to sell more and the government will pay less in subsidies.

Exporter probably get tax cut. Your post make a lot of sense but the problem is that you use logic and analysis. 

[kokesaat]

When we visit Texas we shop at the Asian stores there.  They sell Vietnamese jasmine rice and Thai jasmine rice.  We buy whatever is cheaper, usually the Vietnamese by a few dollars/25pound.  We consider ourselves pretty good judges of rice, having eaten the stuff for nearly 50 years together.  We can't tell any difference between the two.

 

[billd766]

30 minutes ago, Tayaout said:

Exporter probably get tax cut. Your post make a lot of sense but the problem is that you use logic and analysis. 

Of course I use logic.

 

I am a farang and not a Thai leader.

[30la]

Did you really believe that Thailand is the only country for rice cultivation?
With your monetary policy you will see that you will have to give up a lot of export points! Not just in rice!

[ChipButty]

Thailands loss 

[30la]

2 minutes ago, ChipButty said:

Thailands loss 

The monetary policy of the central bank and the government sees only rich as winners, all the others remain with less than before!

[geisha]

For the first time in 35 years the importers in France , and probably every other European country, are buying Cambodian and Vietnamese rice which is much cheaper than the Thai. THere is no more demand for the thai products in general .

[Isaan sailor]

Well Thailand (and more specifically, Bank of Thailand), this time you’ve really shot yourself in the foot.  Hot money inflows have killed the USD and other western currencies. Your nonsense has gone on for over two years.  So will your supreme master, the ChiComs buy overpriced rice?  They’d probably want cheaper Indian, Vietnamese or Cambodian Rice, too.

[Acharn]

6 hours ago, billd766 said:

Meanwhile all the Thai exporters are hurting badly because of the thb and "they" don't get subsidies.

 

If the thb forex rate is lower, ALL exports from Thailand become cheaper, thus they can export more and that includes rice, so the farmers will be able to sell more and the government will pay less in subsidies.

Yes, which is why the U.S. government has sanctions against governments as currency manipulators if they interfere to keep their currencies weak against the dollar. The governor of Bank of Thailand pointed this out a couple of weeks ago. Apparently because of the U.S.-China trade war a lot of money is coming into Thailand, causing the strong baht. 

Edited September 21, 2019 by Acharn

[Autonuaq]

3 hours ago, geisha said:

For the first time in 35 years the importers in France , and probably every other European country, are buying Cambodian and Vietnamese rice which is much cheaper than the Thai. THere is no more demand for the thai products in general .

They also buy rice from India.

the importers of thai rise is also complain the thai rise is lower in quality, not sure why

[ThePioneer]

49 minutes ago, Acharn said:

Yes, which is why the U.S. government has sanctions against governments as currency manipulators if they interfere to keep their currencies weak against the dollar.

 

Of course, because manipulating ones currency is the privilege of the orange clown only.

[Tayaout]

6 hours ago, Autonuaq said:

They also buy rice from India.

the importers of thai rise is also complain the thai rise is lower in quality, not sure why

I read that lower quality Cambodian and Vietnamese rice is smuggled into Thailand then mixed with Thai rice. 

[Thechook]

Thai rice is to bloody expensive now.  The wife always purchased thai rice in bulk but no longer does as she says Australian rice is now cheaper

[hotchilli]

10 hours ago, Autonuaq said:

They also buy rice from India.

the importers of thai rise is also complain the thai rise is lower in quality, not sure why

Because Thai only consider quantity, only a few consider quality as a selling premium.
Thai grow what they can & try to flog it the standard is immaterial!

[billd766]

16 hours ago, Acharn said:

Yes, which is why the U.S. government has sanctions against governments as currency manipulators if they interfere to keep their currencies weak against the dollar. The governor of Bank of Thailand pointed this out a couple of weeks ago. Apparently because of the U.S.-China trade war a lot of money is coming into Thailand, causing the strong baht. 

This is confusing me a bit, not being a money man myself.

 

I found this on the BBC website dated 19 September. Isn't this currency manipulation?

 

https://www.bbc.com/news/business-49760502

 

The US central bank has pumped more than $200bn (£160bn) into the financial system this week - the first time there's been such an intervention since 2008.

 

This is a huge market, with some $3tn changing hands each day, according to the US Office of Financial Research.

Under normal conditions, interest rates in the repo market are low, since the loans are considered safe and there's plenty of cash on hand.

But this week the cost of borrowing shot up - toward 10% in some cases. And the rate at which banks lend to each other - the Fed's benchmark - exceeded 2.25%, the top of its desired range.

The rise prompted the Fed to take action. Four times this week, it injected money into the market, offering to buy up to $75bn in treasuries or other assets from banks in a bid to boost bank reserves and keep them lending.