COVID-19 has wreaked havoc on many industries. It has also been a boon to others, such as Amazon, Netflix, Zoom, Delivery Services, Grocery Stores, Cleaning Supplies, … (source)
Although perhaps not discussed as much as others, Thailand’s rice exporters have benefited from the recent pandemic, aided by protectionary actions by other countries.
2020 was predicted to be a bad year for Thailand’s rice export market. The worst drought in 40 years hit the country, resulting in decreased production of rice. However, as a result of unexpected increases in demand for rice, along with the decisions of a few countries to halt exports, the industry turned around
Let’s break that down some more and first talk about rice and Thailand import restrictions. Then we’ll discuss COVID-19 related increases in rice demand as well as export restrictions by other major rice-producing countries.