Thai Rice Exporters Cut 2020 Forecast to Lowest Volume in 20 Years
BANGKOK (Reuters) - Thailand's rice exporters association has cut its forecast for 2020 exports to 6.5 million tonnes, the lowest volume in 20 years, its honorary president said on Wednesday.
The Thai Rice Exporters Association earlier this year forecast the world's second-largest rice exporter would sell 7.5 million tonnes, already the lowest in seven years.
"We've revised this year's forecast based on the volume shipped in the first six months of the year," Chookiat Ophaswongse, honorary president of the exporters association, told Reuters.
"The new forecast of 6.5 million tonnes is the lowest volume in 20 years."
From January to June, Thailand exported 3.14 million tonnes of rice, about a third lower than the same period last year, according to data from the association.
That compared with 4.53 million tonnes and 4.04 million tonnes exported by Thailand's competitors, India and Vietnam, respectively.