Thailand could fall to world’s third largest rice exporter this year

13 Sept 17:15 Key points summarised by AI

Thailand faces a potential drop to the world's third-largest rice exporter, primarily due to a prolonged drought severely impacting rice output and a strong baht currency making exports uncompetitive.
First-half exports saw a significant 30% drop in volume and 13% in value compared to last year, with the strong baht adding an average of US$50 to Thai rice prices over competitors.
Vietnam and India have surpassed Thailand in rice exports, with Vietnam's increasing production of popular soft rice contributing to its rise as the world's second-largest exporter.
The export outlook for the second half of the year remains poor due to anticipated low global demand, as many countries already stockpiled rice earlier to mitigate COVID-19 related shortages.
Experts recommend the Thai baht weaken to 32.50-33 baht per US$1 for competitiveness and urge Thailand to focus on producing soft rice strains to prevent further declines in global ranking.

New home loan scheme aims to boost property sector with Bt125 billion

Today 11:38 Key points summarised by AI

The Cabinet approved a new Bt50-billion 'A House for Each PLUS' home loan scheme from the Government Housing Bank, offering up to Bt3 million with 40-year repayment terms for low- and middle-income earners.
This initiative aims to significantly boost the property sector and national economy, projecting to generate Bt125 billion in economic activity and create jobs.