Southern Thai Flood Damage Could Reach US$3.4 Billion

From Mohd Haikal Mohd Isa BANGKOK, Jan 18 (Bernama) -- Weeks of devastating floods in southern Thailand may cause up to US$3.4 billion (120 billion baht, US$1 = RM35.28) in damages if the current weather contition continues. "The damage can rise to 85 billion-120 billion baht (equivalent to 0.5-0.7 per cent of the gross domestic product) if the flooding continues over the next few months, as it affects the rubber and palm plantations," said Thailand Chamber of Commerce Vice-Chairman Vichai Assarasakorn. Southern Thailand is a major producing region for rubber and palm oil. Vichai also said the flood has also affected the livestock industry, causing substantial losses. A major part of the region has been submerged in floodwater for the past three weeks after a record rainfall due to the monsoon season, causing widespread damages to infrastructure and people's livelihood. The flood has cut off major highways and rail lines to the region, claiming 43 lives and affecting 1.6 million residents in 12 southern Thailand's provinces. The Nakhon Si Thammarat airport was also closed for several days as its runways was flooded. The Meteorological Department on Monday warned that the heavy rainfall will continue in the coming days, and the government has issued flood warnings to residents in the region. --BERNAMA