News

Thailand: El Niño agricultural products flood both up and down

Thailand
Sustainability & Environmental Impact
Market & Price Trends
Published Feb 24, 2024

Tridge summary

Thailand's agricultural sector is facing challenges due to severe weather conditions caused by the El Niño phenomenon, leading to droughts, higher temperatures, and decreased production of key crops like rice, corn, and oil palm. The Office of Agricultural Economics predicts potential water shortages and crop damage, estimating a damage value of around 5,793 million baht. Despite this, demand for Thai rice and cassava is expected to remain high both domestically and internationally. The ongoing conflict between Ukraine and Russia, along with global drought conditions, may increase the price of corn and other substitute raw materials in the world market. Looking ahead to 2024, rubber prices are expected to rise due to global demand, while shrimp prices are likely to remain stable due to international market fluctuations. A potential La Niña event could cause flooding and further damage to crops, leading to increased prices due to supply shortages. The article suggests farmers adopt modern farming techniques that are less dependent on water resources to mitigate these risks.
Disclaimer: The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Thailand is facing increasingly diverse and severe extreme weather phenomena. Both the "El Niño" phenomenon that has continued since 2023/24 has caused drought conditions. The rain left for a long time. and higher temperatures Including the possibility of "La Niña" causing damage to agricultural products. and affecting food security Including leading to a shortage of raw materials in related industries. If we look back at the impact on Thailand in 2015, which is the most recent year that it occurred. "Super El Niño" found that the output of most important Thai agricultural products decreased. by paddy animal feed corn and oil palm had production decreases of 15.4%, 17.6%, and 1.9%, respectively. As for the impact of the El Niño phenomenon in the 2023/24 planting year, Mr. Winit Atisuk, Deputy Secretary-General of the Office of Agricultural Economics (Agricultural Economics Office) stated that The Agricultural Information Center predicts that agricultural areas outside irrigation ...
Source: RYT9
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