KONTAN.CO.ID - BANGKOK. Thailand's rice exporters association has slashed its forecast for 2020 exports to 6.5 million tonnes, the lowest volume in two decades, owing to drought and a strong baht currency, its executives said on Wednesday. The industry group's latest forecast for Thailand, the world's second-largest rice exporter last year, is lower than its previous expectation of a seven-year low of 7.5 million tonnes for 2020. The association attributed that to a persistently strong baht compared to other currencies and drought cutting Thai rice output by 5 million tonnes this production season, making prices higher and uncompetitive.
Thai rice exporters cut 2020 forecast to 6.5 million tonnes, lowest in 20 years
KONTAN.CO.ID - BANGKOK. Thailand's rice exporters association has slashed its forecast for 2020 exports to 6.5 million tonnes, the lowest volume in two decades, owing to drought and a strong baht currency, its executives said on Wednesday. The industry group's latest forecast for Thailand, the world's second-largest rice exporter last year, is lower than its previous expectation of a seven-year low of 7.5 million tonnes for 2020. The association attributed that to a persistently strong baht compared to other currencies and drought cutting Thai rice output by 5 million tonnes this production season, making prices higher and uncompetitive.