News eDaily07 Aug 2017

Thailand:Rainy season brings floods and US$300 mln losses

07 Aug 2017

Ten of Thailand's 77 provinces have become disaster zones, the Interior Ministry has said, with losses estimated at US$300 million at least. The floods, caused by annual seasonal rain, have killed at least 23 people.

The floods, which began on 5 July, affected 700,000 hectares (1.7 million acres) of land, most of which are rice-growing farmland, reported Reuters. Thailand is the world's second biggest exporter of rice.

"Losses from the floods are estimated to be at least THB10 billion (US$300 million)," Jirapan Assawathanakul, chief of the Thai General Insurance Association said.

The floods had not affected rice exports but it was too early to assess damage as the crop can survive short-term inundation, Chookiat Ophaswongse, president of the Thai Rice Exporters Association, has said.

In 2011, widespread floods dragged on for months and killed more than 900 people and caused major industrial disruption, cutting economic growth to just 0.1%.


 

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