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The Thai baht has lost about 4.1 percent against the US dollar so far in 2020, reversing much of its 2019 gains, after the coronavirus outbreak reduced Chinese tourism. A CNBC economist said Thailand is too dependent on Chinese demand, with tourism and exports to China making up about 2.7 percent and 6 percent of GDP respectively.
Weaker Chinese demand for Thai goods and tourism lowers Thailand's import capacity and currency strength. The effect on feed ingredient prices is limited, but it reinforces the demand downside from China.
cnbc.comYen Nee LeeFeb 6, 2020Not 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.
