BANGKOK, THAILAND — With rice exports falling short in the first half of the year, Thailand will likely fall short of its target of 9.5 million tonnes, an export group told Reuters.
Exports have struggled because of the strong baht, which is trading near its strongest in more than six years, the news agency said.
Thailand, which is second to India in rice exports, shipped 4.2 million tonnes of rice from January to June. Orders in the last two months have fallen as low as 600,000 tonnes, below the targeted monthly average of 800,000 tonnes.
“Thai rice is very expensive because of the currency exchange,” Chookiat Ophaswongse, honorary president of the Thai Rice Exporters Association, told Reuters. “If the baht keeps strengthening below 30 against the dollar, it’s game over for us.”
