The Ministry of Commerce has reported a surge in Thailand’s rice exports as Indonesia’s rice industry was hit by El Nino-triggered droughts and a delayed monsoon season during the first 10 months of this year.
Information from the October 2023 projection of the United States Department of Agriculture (USDA) forecast a 3% drop in Indonesia’s 2023/24 rice production at 33.5 million metric tons.
Indonesia typically has three rice growing cycles annually, with the primary cycle during the rainy season – from October to December – accounting for about 45% of total rice cultivation, and harvests between February and April. Two additional off-season cycles occur during the dry season.
Most of Indonesia’s rice cultivation relies on irrigation, covering 85% of the cultivated area, primarily in lowland regions that depend on rainfall to supplement irrigation systems.
The Trade Policy and Strategy Office also reported that Thailand’s rice export volumes in the first ten months of 2023 reached 6.9 million tons, an 11.4% increase from the same period last year, valued at nearly 136.3 billion baht, a 24.7% increase.
The top five rice export markets for Thailand are Indonesia at 13.19%, the United States, South Africa, Iraq, and China. (NNT)
