| Thai rice prices hit record high, Russia extends export ban Thai rice market in turmoil after India's moves |
In Thailand - the country with the second largest rice growing area in the world, farmers are continuing to plant the second crop of rice (off-season rice) to take advantage of the current high rice prices. According to the country's press, the current second crop rice growing area has exceeded the government's 2023/2024 crop year plan, especially in the Chao Phraya River area.
However, Thailand's Department of National Agricultural Extension recently urged rice farmers, especially those in the above basin, to avoid growing a second crop and instead choose other crops.
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| Climate change is threatening rice productivity in many countries. |
The recommendation from Thailand's Department of National Agricultural Extension comes as climate change and the El Nino phenomenon have affected Thailand, leading to lower water supplies in recent years.
“ Rice farmers should avoid growing a second crop and instead choose crops that require less water, ” the department said, listing the crops that farmers should grow, including tomatoes, pumpkins, watermelons, sweet corn, and peanuts. These are crops that only need 30-70% of the water for irrigation.
In fact, not only in Thailand, according to experts, the El Nino phenomenon is negatively affecting the rice supply of many countries in the world, including India and Vietnam.
In Vietnam, in addition to the impact of climate change, according to the Department of Crop Production (Ministry of Agriculture and Rural Development), diseases such as brown planthoppers, leaf rollers, armyworms, and bacterial leaf blight have significantly affected crop yields. Therefore, the Department of Crop Production also recommends that localities closely monitor the development of diseases in the fields for timely handling.
From the above developments, rice exporters said that the global rice market this year is still in a state of lower supply than demand and they believe that the price of 5% broken rice will remain stable at 600 USD/ton or more in 2024.
“Although the export price of Vietnamese rice has recently decreased sharply by 10-25 USD/ton, the main reason is seasonal factors. Specifically, the rice growing areas in the Mekong Delta are entering the biggest harvest of the year, leading to abundant supply and importers looking to delay placing orders. This trend will not last and this year's export rice prices will continue to be high,” Mr. Phan Van Co, Director of Vrice Company Limited, told Cong Thuong Newspaper.
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