Thailand: The last curve, agricultural products of the year 2021

Thailand's agricultural exports, valued at 21,101 million dollars in 2020, experienced a growth of 23.6% from a decrease of -3.1% in the first seven months of this year, with the majority of products seeing an increase in export value except for rice. However, high pricing and rising shipping costs are affecting the competitiveness of Thai agricultural products, and the COVID-19 pandemic and weather conditions could further impact agricultural production in the 4th quarter of 2021. The small Tapioca Farmers Association of Thailand is implementing a Cassava Income Insurance Program to address price concerns among farmers. The Thai Rice Exporters Association anticipates improved rice exports due to increased yields and the depreciation of the baht, which could make Thai rice more competitive in the global market. However, challenges such as transportation issues and COVID-19 impacts on mill liquidity and worker vaccination could affect rice exports in the second half of the year. Additionally, the price of raw rubber sheets is expected to increase in the 4th quarter of the year, and palm fruit prices in Thailand have seen an increase due to a decline in global palm production, with concerns about potential fluctuations in prices due to increased world stock levels.