Thailand’s rice woes lay bare when even durian brought in more foreign earnings in 2021
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THAILAND’S foreign-exchange earnings from its rice exports fell below that of durians for the first time in 2021, with the stinky fruit expected to pip rice export revenue again this year.
According to latest figures from the Thai Chamber of Commerce, durian exports are expected to earn the country 200 billion baht (S$7.86 billion) for the whole of 2022, much higher than the rice exports’ haul of 120 billion baht. Last year, durians pulled in 187 billion baht in foreign exchange, compared with rice’s 107 billion baht.
The Thai Rice Exporters Association (TREA) recently downgraded its target for total rice exports in 2022 from 8 million to 7 million tonnes, despite the looming food crisis caused by the Russia-Ukraine war which threatens to reduce the world’s supply of wheat, the other main food staple.
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