Thai rice exports fall to 3rd place | Bangkok Post: business

Business > Marketing

Thailand rice exports hit 12-year low

Published: 24 Jan 2013 at 00.29
Online news: Marketing

Rice exports from Thailand plunged 37 per cent last year to the lowest in more than a decade, plunging the nation from best in the world to third place.

Thailand sold 6.73 million (metric) tonnes with a value of $4.63 billion, the Ministry of Commerce said Wednesday.

That compares with 10.7 million tonnes, worth $6.43 billion a year earlier, data showed.

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jwatch
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Discussion 17 : 24 Jan 2013 at 09.5017
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maybe we can donate some of the rice over flowing from warehouses to more needy countries....get some good will :)
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bikeme
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Discussion 16 : 24 Jan 2013 at 09.2716
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Lets do some math, they bought 9 mil tons, they exported only 6.7 mil, so 25% unsold, in 2013 they will buy 11 mil, assume the same for the following two years, we will end up with more than 10 million tons of rice rotting in the warehouses. That is a full year's worth of rice production wasted.
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dickemery
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Discussion 15 : 24 Jan 2013 at 08.5115
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taxsin should pay the losses out of his own pocket,but it also bought him continued support from the deluded farmers,without touching his own pocket,lets get back to free market asap,the scheme is full of corruption
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Eric
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Discussion 14 : 24 Jan 2013 at 08.3314
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I would like to see the values of the Indian and Vietnam export which for some strange reason was omitted. That will tell a better picture. Last I check, value per tonne is still top for Thailand.
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rod266
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Discussion 13 : 24 Jan 2013 at 08.2813
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Give the bloody rice away it's already been paid for!
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boons
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Discussion 12 : 24 Jan 2013 at 08.1112
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The damage is only beginning. The high baht is causing massive damage to exports despite all the absurd assurances to the contrary from Kuhn Kittiratt. Meanwhile the minimum wage hike is causing massive compression to profit margins for the very same companies struggling with the loss of exports.

There's loads of money sloshing around so nobody sees the danger yet, but Thailand is in hot water. 1997 awaits around the corner as earnings falter, equity markets will plunge and the hot money seeking yield will fly back out of the country. The BoT will ultimately be forced to reduce the baht and government debt will be crushing.
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loong
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Discussion 11 : 24 Jan 2013 at 07.5211
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They got the votes, and got the power for more than a year now, they flunk economics 101. The north and Isaan people got what they deserve. Just hope that they are happy with new car, pick-up truck, motor bike and new mobile and see how long those thing last.
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bluebkk
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Discussion 10 : 24 Jan 2013 at 07.2110
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Truth hurts but some red jokers will certainly come up with the usual red denials like...."We are still number one for the beauty of our rice...." LOL and LOL; The facts are; billions of losses that could have been used for education...Thank you Dubai for bringing us closer to the abyss!
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fezman
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Discussion 9 : 24 Jan 2013 at 07.169
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All new pickups come with the back full of rice as well as the 100k tax back ,we just got yinglucky.
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brilliant
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Discussion 8 : 24 Jan 2013 at 06.578
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Certain reds will be on the board momentarily to provide some facts_only about this how this is all wrong while other red "economists" will be trying to spin how this really isn't a loss.
Hundreds of billions of baht that could have helped so many other aspects of Thailand, not just buy votes for PTP.
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