Thailand saw a surge in rice exports during the first seven months of 2023, attributed in part to concerns over India’s rice export ban.
Department of Foreign Trade (DFT) Director-General Ronnarong Phoolpipat reported that Thailand exported approximately 4.6 million tons of rice in this period, a 13.45% increase compared to 2022. The total export value reached US$2.568 billion, or 87.417 billion baht, marking a 20% year-on-year growth.
According to Ronnarong, global demand for Thai rice remains robust, especially as the prices have become more competitive. As of August 29, the price of 5% grade white rice stood at $620 per metric ton – a significant rise from the 2022 average of $437 per ton. For comparison, Vietnam’s rice is priced at $635 per ton.
To capitalize on this, the DFT has dispatched delegations to countries like the Philippines, Malaysia, Indonesia and Japan to explore market expansion opportunities. Ronnarong expressed confidence that Thai rice exports are on track to hit the 8-million-tonne target for 2023.
Looking ahead to 2024, the impact of the El Nino phenomenon on Thai rice production has yet to be assessed. In the interim, Ronnarong encourages paddy farmers to maintain high-quality standards in order to ensure continued competitiveness in the global market. (NNT)
