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Bangkok Post
Bangkok Post
Business

Thai rice prices forecast to rise 5% in Q2

Thai Chookiat Ophaswongse Ukraine Thailand

Thai rice prices are expected to increase by 5% in the second quarter, pushed up by the war in Ukraine's effect on surging global commodity prices, says veteran trader Chookiat Ophaswongse.

Mr Chookiat, an honorary president of the Thai Rice Exporters Association, said there was growing concern about a wheat shortage as Russia and Ukraine are the main producers of the crop, while rising oil prices are likely to drive up overall commodity prices.

"Thai rice is expected to see just a 5% increase in prices in the second quarter because there are relatively high rice stocks in India, while rice production is expected to increase this year both in Vietnam and Thailand," said Mr Chookiat.

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