Keep an eye on price fluctuations over Thai rice business in 2021

Published 2021년 2월 26일

Tridge summary

The article discusses the impact of the COVID-19 pandemic on the Thai rice market, highlighting significant price fluctuations and challenges in 2020. Despite initial concerns about rice shortages, prices fell sharply in the second half of the year due to increased imports and the return of competing export countries. The unpredictable price trend, which resulted in significant losses for mills and exporters, is expected to persist. Factors such as increased supply, price competition, a stronger baht, and logistical issues are anticipated to keep prices low in 2021. Additionally, the article mentions the strategic efforts of countries like Ethiopia and Zambia to boost their agricultural production to ensure food security, focusing on developing more resilient crop strains and increasing productivity.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Although the COVID-19 outbreak will affect businesses more broadly. But overall, agricultural food products such as fresh chicken and fruit still benefit from the fact that they are essential products. However, the value of rice exports in 2020 shrank 11.23% YOY, which is surprising. Because orders for rice rose considerably in the early 2020 that the COVID-19 began to spread, the price increased accordingly. But in the second half of the year, the price of rice fell sharply. The price of jasmine paddy in November 2020 fell to 11,428 baht / ton, or decreased 26.3% compared to the highest price of 2020, as well as the price of the rice paddy, which fell to 8,564 baht / ton or decreased 15.3. % Compared to the highest price of 2020 An interesting question is what happened to Thai rice prices in the past year? And amid the global COVID-19 outbreak, it is not clear when it will end. What is the direction of the Thai rice business? Rice prices in the second half of 2020 “do not go on” ...

Source: Prachachat