Agricultural output forecast lowered
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The Office of Agricultural Economics today slashed its estimate for this year's agricultural gross domestic product (GDP) growth to 1.45 per cent.
Its earlier projection was 2.5-3 per cent.
Delayed rain is a reason for the cut, according to Lersak Rewtarkulpaiboon, secretary-general at OAE. Recently, the Royal Irrigation Department asked farmers to postpone in-season rice growing in the Chao Phraya River area to late July.
OAE expects the price of 5-per cent broken rice to slightly rise to Bt8,500 per tonne this year. While output from Thailand from will fall, India and Vietnam also plan to export less rice this year also because of drought.
