Thailand is battling the worst flooding in years with a large swathe of its crop land inundated by seasonal storms and swollen rivers, threatening to fuel food prices and hinder a nascent tourism recovery.
Popular tourism destinations such as Bangkok and Chiang Mai in the country’s northeast have reported flooding of streets this week after heavy rains triggered by typhoon Noru saw water level in the Chao Phraya and Ping rivers rising. An estimated 1.2 million rai (160,000 hectares) of agricultural land was hit by flooding with almost 82,000 houses damaged across 510 districts in 72 provinces, according to official data.
With more storms forecast over the next few weeks, Thai officials are taking steps to minimize further damage to crops and houses with Prime Minister Prayuth Chan-Ocha making a trip to flood-hit northeastern provinces on Tuesday to oversee relief efforts. The premier vowed to shield the economy and low income households hit by the floods.
The biggest damage is to rice crop and it comes amid forecasts for smaller harvests from major producers such as India and Pakistan, which was hit by a devastating flood this year. Kasikorn Research Center estimates Thailand’s main rice harvest may drop about 9% because of the flooding, damage to the crop close to the harvest period and high fertilizer prices. Thailand received about 24% above average rainfall between Jan. 1 and Sept. 25, Kasikorn said, citing weather department data.
“The current flood impact will hit households that are already vulnerable due to low purchasing power, high costs of living and high household debt,” Kasikorn said in a report.
Source - https://www.bloomberg.com
