Thailand's rice, sugar cane growing areas expected to be hardest hit by drought

BANGKOK, March 6 (TNA) - The Kasikorn Research Center (KResearch) says that Thailand's drought this year is likely to cause a total damage of about 15.3 billion baht to the national economy, with rice and sugar cane growing areas expected to be hardest hit by the dry season. According to a latest KResearch report released on Wednesday, the initially-forecast damage figure would account for about 0.1 per cent of Thailand's gross domestic product (GDP) in 2019 if there were no other production areas of major economic crops were seriously affected. The leading Thai private think tank projected this year's drought, which may last until May, would boost or maintain the prices of locally-grown rice and sugar canes only in a short run due to the greater competition on the world market, but could even cause a drop in local growers' income by 1.2-1.6 per cent. The Bangkok-based research firm also estimated that the prices of Thai grains and sugar canes should stand at 10,650-10,740 baht per ton and at 750-760 baht per ton on average respectively, a shrink by 0.8-1.7 per cent and 1.3-2.6 per cent respectively. (TNA)