THAILAND’s Trade Policy and Strategy Office reported that the drought affecting several parts of the country will result in higher consumer goods prices, energy prices, and inflation while increasing international shipping costs.
The government agency’s director-general that El Niño sparked concerns about potential damage to Thailand‘s agricultural sector and agro-industrial exports.
Mining and livestock industries are also affected by the weather phenomenon.
Meanwhile, the director of Thai Sugar Millers Corporation in a recent interview said severe drought will cause production to fall by 18% to around 9 million tons in the 2023/24 season, with extreme heat and dryness to probably become worse in the coming years.
The United Nations in July warned the world to prepare for the effects of El Niño, saying the higher global temperatures will stay throughout 2023.
International experts have also warned of longer El Niño and La Niña events and how the weather phenomenon will disrupt the flow of rice supplies worldwide.
Experts have previously warned that record-breaking temperatures, reduced rainfall, and changes in the natural climate are set to damage Thailand’s economy and increase poverty in the coming months.
