Thailand’s paddy output to decline in 2019-2020 season
Bangkok, VNA - Thailand's annual paddy production is forecast at 27-28 million tonnes in the 2019-2020 season, weighed down by a drop in production for the second crop because of flooding and drought.
Whichai Phochanakij, director-general of the Internal Trade Department under the Thai Ministry of Commerce, said the second crop is estimated at just 3.5 million tonnes of paddy, down 54 percent against the previous season, due to drought and inadequate water supply from dams.
Meanwhile, production from the main crop is forecast at 24 million tonnes of paddy, down 4-12.5 percent from the previous season.
Some 90 percent of production from the 2018-2019 season was harvested, he said.
Speaking at a meeting of the subcommittee handling reference prices for rice price guarantees, Whichai said from now until 2020, the rice prices are expected to rise, thanks to lower supply and the government's rice price guarantees.
The Thai government recently set aside an additional 70 billion baht to shore up paddy prices, as the annual harvest is scheduled to flood the market.
Thailand exported 11.09 million tonnes of rice in 2018, 58 million tonnes lower than that of 2017. The country’s rice export turnover in 2018 increased by 8.3 percent compared to 2017, hitting 5.61 billion USD. - VNA