Rice exports are down in February’s gross sales figures, in both whole volume and worth. High costs and competitors from Vietnam are being blamed, together with the continuing sturdy baht. Rice farmers also say they’re concerned how long the recent season will final which may also have an effect on their planting schedules for this yr.
The Thai Rice Exporters Association says that rice exports totalled 687,560 tonnes in February, down 27.7% year-on-year.
White rice, in particular, together with parboiled rice, have seen the most important falls, as a lot as 40%, based on the Rice Exporters. Exports of Jasmine Rice fell round 6.2% from January’s complete.
“Prices of Vietnamese rice are around US$40-50 per tonne lower than Thailand and are luring buyers from The Philippines and Malaysia.”
First , Thai white rice is going for $411 a tonne, while Vietnam white rice is $358-362 per tonne, India and Pakistan are between $350-377 per tonne.
Thai rice shipments totalled 11 million tonnes in 2018, down 5% from 11.67 million in 2017 however greater than 9.ninety one million tonnes in 2016, according to the Bangkok Post..