BANGKOK, Jan 8 (TNA) – Rice exporters have asked the Bank of Thailand to well manage the value of baht as its continuous appreciation could affect export this year.
Chukiat Opaswong, honorary president of the Thai Rice Exporters Association, said the ongoing baht appreciation was worrying exporters, especially rice exporters, because the prices of rice ordered for February were based on stronger baht and were thus higher.
Other countries could be prompted to buy rice from other sources. So, the Bank of Thailand should prevent baht from being too strong in comparison with other currencies; otherwise, Thai rice could not compete in global markets, he said.
Rice exporters believed Thai rice exports this year should not exceed 10 million tons as the prices of rice from other countries like Vietnam and India were US$15-20 cheaper per ton, Mr Chukiat said. Besides, Indonesia reportedly planned to cut its rice imports from 3 million tons to 2 million tons. Those factors were obstacles to rice exporters’ marketing campaigns, he said. (TNA)
