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Kasikorn Research Center: Thai rice exports on decline.


The Kasikorn Research Center, a think tank attached to Kasikorn Bank, predicted some decline in rice export this year in its latest analysis.

The Kasikorn Research Center predicted a decline in the volume of Thai rice exports as buyers opt to buy other kinds of grains.

At the same time, Vietnam is exporting more rice, narrowing the gap of rice exports between Thailand and Vietnam, threatening the market share of Thai rice exporters.

The Center predicted that Vietnam will exceed its quantity goal set at 3.4 million tons within the first half of this year, while the monthly average of Thai rice exports has been on the decline since February compared to the same period last year, except for March.

Thailand has been behind Vietnam in terms of rice exports for two months in a row, a first in rice export history. This has prompted a re-forecast of Thai rice exports.

The original forecast was set at 9.5 million tons for this year, and is now set at 8 to 8.5 million tons. Last year, Thailand exported 8.62 million tons of rice.

The Center expects some difficulty for rice exports next year as India will resume exporting its white rice. India is competition for Thailand in rice exports to African and Middle Eastern markets.

Drastic climate change may ironically be a positive factor, as it could cause rice productivity to drop and drive demand for rice in the world market higher.

Source: TANN


 


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