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Stronger baht ‘will hurt exporters and farmers’

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Stronger baht ‘will hurt exporters and farmers’

By Wichit Chaitrong 
The Nation 

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MOST EXPORTERS are worried about the baht appreciating against the US dollar, fearing it will hit exports and farm incomes amid the slowing of both local and global economies.

“A stronger baht will hurt our rice price competitiveness amid weaker currencies in the region, such as India,” Charoen Laothammatas, president of Thai Rice Exporters Association told The Nation yesterday. This will then be passed on to the price of paddy rice, thus adversely affecting farmers, he warned. 

Asked whether rice exporters will discuss the issue with the Bank of Thailand (BOT), Charoen said exporters have raised this issue with the central bank many times, but the baht remains stronger compared to other competitors’ currencies, such as India’s rupee and China’s yuan. 

Credit, Read more: http://www.nationmultimedia.com/detail/business/30361586

-- The Nation 2019-01-04

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