Thailand's rice export contraction in line with global slowdown

[webfact]

Thailand's rice export contraction in line with global slowdown

BANGKOK, 5 October 2015 (NNT) - The Thai Rice Exporters Association claims that Thailand’s rice exports have contracted in accordance with the global economic slowdown.

The Thai Rice Exporters Association reported on Sunday that the country’s overseas shipment of rice fell 28.5% from the same time last year, to 690,000 tons in August which were worth 11.14 billion baht.

During the first eight months of 2015, Thai rice exports contracted 10.7% year-on-year to 5.8 million tons. The total value of exports from January to August was 94.89 billion baht.

The Association said that it expects September exports of Thai rice to stand at 700,000 to 800,000 tons because of the weaker baht which should have benefited shipments as prices are expected to be more competitive on the international market.

However, it noted that the global economic slowdown will likely mean it is still a buyers’ market.


-- NNT 2015-10-05

[Srikcir]

The TREA apparently didn’t get memo from director-general of the Commerce Ministry's Foreign Trade Department Duangporn Rodphaya that …

“Thailand should still export up to 10 million tonnes this whole year [compared to 2014], thanks to high demand in some markets and the drought in many rice source countries” The Nation 2015-09-24

Meanwhile Cambodia exported 342,136 tons of milled rice in the first eight months of 2015, an increase of 46 percent from the 233,859 tons over the same period of last year.

[bangon04]

As we don't hear much about the rotting rice mountain in the warehouses any more, shall we assume that that old problem has been efficiently and profitably dealt with already, and this latest announcement is a cunning plan on the part of the TREA to increase demand and inflate prices for Thai rice...? oh wait...