Thailand’s rice exports fall sharply in Q1
Thailand's rice exports fell 30% year-on-year in Q1 to 2.1 million tons, according to the Thai Rice Exporters Association.
A rice store in Narathiwat province of Thailand. Photo courtesy of AFP/VNA.
Honorary president of the association Chookiat Ophaswongse said that the decline was due to countries delaying buying decisions and India resuming rice exports.
He noted that Thailand’s full-year exports can fall below the forecast of 7.5 million tons, but exporters are seeing more U.S. orders after a 90-day pause on the imposition of steep new tariffs.
Chookiat forecasts that exports in Q2 will be similar to the first three months of the year.
Thailand is the world's second-largest rice exporter, but can lose that title if tariffs are higher than 10%, Chookiat said.
A delegation led by Thai Finance Minister Pichai Chunhavajira will meet U.S. officials in Washington this week to seek lower tariffs.
Last year, Thailand shipped 9.94 million tons of rice worth THB225.65 billion ($6.7 billion), with the U.S. being its third-largest market by volume.
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