Thailand risks losing its place as the world’s second biggest rice exporter this year thanks to weaker competitiveness and a lack of new rice varieties to cater to changing market demand.
Bangkok (VNA) - Thailand risks losing its place as the world’s second biggest rice exporter this year thanks to weaker competitiveness and a lack of new rice varieties to cater to changing market demand.
President of the Thai Rice Exporters Association Charoen Laothamatas said amid stiff competition, relatively higher production costs than rivals such as Vietnam, volatile foreign exchange and widespread drought, Thailand risks falling to third this year, with Vietnam taking second place.
This year, the association set a rice export goal of 7.5 million tonnes, the same target by the Commerce Ministry, worth 4.2 billion USD, he said.
The target is the lowest in seven years since 2013 when Thailand exported 6.6 million tonnes of rice.
Thailand shipped 7.58 million tonnes last year, fetching more than 4.2 billion USD, down 32 percent in volume and 25 percent in value annually./.
Thailand rice convention 2017 was held from May 28-30 by the Department of Foreign Trade in collaboration with related organisations from both the public and private sectors.
A Vietnamese delegation, led by Deputy Minister of Industry and Trade Tran Quoc Khanh, has attended the Thailand Rice Convention 2017 in Bangkok from May 28 – 30.
Rice exports of Thailand in 2018 will be less than the target growth of 9.5 percent due to strong baht and decrease in rice production, said the Thai Rice Exporters Association (TREA).
A committee considering the draft rice law of Thailand had showed optimism that a revised version of the bill will satisfy all relevant parties when it was put into the second debate at the National Legislative Assembly (NLA) on February 26.
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Thailand’s Ministry of Commerce and rice exporters are devising strategic plans to boost rice exports amid global market fluctuations, focusing on key markets and adjusting output.
The focus of the upcoming ASEAN Summit in October will be on strengthening economic relations through intra-regional trade and investment, as well as regional initiatives on energy networks and connectivity.
Indonesian Ambassador Rina P. Soemarno, who currently serves as Chair of the ASEAN Committee in Prague, emphasised the spirit of regional solidarity and cooperation, and the importance of enhancing ASEAN–Czech Republic relations.
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Finance Minister Pichai Chunhavajira has outlined a six-point strategy to promote innovation, support small and medium-sized enterprises (SMEs), and push for Thailand's removal from the US Trade Representative (USTR)’s special 301 Watch List regarding intellectual property rights protection among trading partners.
Vietnamese Ambassador to Israel Ly Duc Trung emphasised ASEAN’s central role in regional mechanisms such as the ASEAN Regional Forum (ARF) and the East Asia Summit (EAS), highlighting its significant contribution to promoting peace, stability, and prosperity in Southeast Asia.
The consumer index of the University of the Thai Chamber of Commerce (UTCC), fell to 51.7 in July from 52.7 in the previous month. The sluggish economy and the trade war, as well as high living costs, continue to undermine confidence, the university said.
Deputy Speaker of the Hungarian National Assembly Istvan Jakab expressed his hope for further deepening Hungary’s ties with ASEAN countries and called for their support for Hungary’s accession to the Treaty of Amity and Cooperation in Southeast Asia.
The 30-storey tower crumbled seconds after a 7.7-magnitude earthquake hit neighbouring Myanmar on March 28. The partially built high-rise, meant to house the State Audit Office (SAO), was the only building in Thailand to collapse, killing 89 people on the site, mostly construction workers.
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The facility was established in response to a growing shift in the Filipino labour force from the Middle East to Japan, where workers are seeking safer working environments.
In the latest Indonesia-US trade agreement in July, the US administration agreed to reduce the reciprocal tariff, which was initially set at 32% by US President Donald Trump last April, to 19%.
Real estate agency ERA Singapore estimated that there are 2,703 condo developments in Singapore today, of which 836 or 31% are at least 30 years old. In 10 years, this number is expected to climb to 1,160, assuming none is sold en bloc.
Illustrative image (Photo: AFP) 
