Thailand adjusts rice strategy to improve competitiveness
Thai Deputy Prime Minister and Commerce Minister Jurin Laksanawisit has pledged to speed up adjustment of the country’s rice strategy as quickly as possible as the industry is facing an array of challenges, including a strong baht and rising production costs.
Farmers harvest rice in Nakhon Pathom province of Thailand (Photo: AFP/VNA)
Bangkok (VNA) – Thai Deputy Prime Minister andCommerce Minister Jurin Laksanawisit has pledged to speed up adjustment of thecountry’s rice strategy as quickly as possible as the industry is facing anarray of challenges, including a strong baht and rising production costs.
Local media quoted the official as saying afterpresiding over a recent Thai hom mali fragrant rice fair that riceexports have fared poorly since the beginning of last year because of foreignexchange swings and the ascendant baht, making Thai rice more expensive thancompeting grains.
The country’s Ministry of Commerce is pursuing arice strategy to improve competitiveness, covering all systems including marketing,cultivation and R&D of new rice varieties, Jurin said, noting that it isalso working to find ways to reduce production costs for farmers to make Thairice more affordable.
He added it is promoting seven rice products andseed development as part of a marketing-led production strategy for 2020-24recently announced by the ministry.
Jurin said the ministry will work closely withthe Thai Rice Exporters Association to seek new trade partners to expand theexport market, as Thai rice remains in strong demand globally given itsquality.
The ministry has also ordered commercialambassadors in various countries to accelerate seeking new markets and promoteThai rice to reach more consumers in overseas markets.
The official confirmed that the strong baht andthe coronavirus pandemic are the main obstacles for rice exports this year.
The Thai Rice Exporters Association recentlylowered its export forecast for 2020 to 6.5 million tonnes, the lowest in 20years, from an earlier forecast of 7.5 million due to a host of headwinds./.
The price of Thai rice is higher than that of competitors due to limited supply and the strengthening of the baht, which could hurt exports, the Thai Rice Exporters Association (TREA) said.
The National Rice Policy Committee, chaired by Prime Minister Prayut Chan-o-cha, has approved a rice price guarantee scheme for the 2020-2021 crop, offering guaranteed prices at the same rates as during the previous season.
The Thai Rice Exporters Association on July 22 predicted that the country’s 2020 rice exports will drop to 6.5 million tonnes, the lowest volume in two decades, owing to drought and a strong baht currency.
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Farmers harvest rice in Nakhon Pathom province of Thailand (Photo: AFP/VNA) 
