BANGKOK, Dec 21 – Thai rice exports from January through November decreased 37 per cent in volume and 25 per cent in value year-on-year, according to the Thai Rice Exporters Association.
The January-November export volume this year reached 6.4 million tonnes valued at Bt135 billion, compared to 10.1 million tonnes at Bt178 billion during the comparable period last year.
The price of Thai rice became higher this year at US$648/tonne, a 16 per cent increase year-on-year.
Major Thai rice importers are Nigeria, Iraq, South Africa, Ivory Coast, and Indonesia, respectively.
According to the association, one reason for the reduced rice exports was that buyers ordered rice only for consumption but not to keep for stocks.
Also, Thailand now has disadvantages compared to competitors such as India, Pakistan, and particularly Vietnam, which last month lowered its rice price to US$410/tonne, the lowest in the market.
About 500,000 tonnes of rice are forecast to be exported this month alone.
