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Mizuho Bank called the baht's underperformance uncharacteristic, making it Asia's worst performer in 2021, and it has fallen more than 10% against the dollar year-to-date. Thailand had only about 34,000 tourist arrivals through May, compared with roughly 39 million in 2019.
The baht's steep decline, driven by the collapse in tourism, raises Thai import costs for feed ingredients priced in dollars. Buyers should expect continued pressure on local feed costs while travel remains shut.
cnbc.comWeizhen TanJul 26, 2021Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
