Thai Rice Exports Falling to Two-Decade Low on Baht, Drought
- Association cuts Thai export target by 13% to 6.5 million tons
- Volume dropped 40% in first half amid drought, strong currency
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Thailand is set to lose its status as the world’s No. 2 rice exporter this year, as drought and a resilient currency make shipments more expensive than those from other growers including India and Vietnam.
The Thai Rice Exporters Association cut its export target for 2020 by 13%, to 6.5 million metric tons, from an earlier forecast of 7.5 million tons. The new estimate puts Thailand on course for its lowest shipment volume since 2000, according to the association’s data.