Thailand’s rice exports rebound on strong supply, prices
Thailand’s rice exports rose by 14% in 2022-23, reaching 8.8 million tonnes, driven by strong supply and competitive pricing, according to the USDA’s Foreign Agricultural Service. However, exports are expected to decline to 8 million tonnes in 2023-24 due to increased competition from Cambodia and Vietnam. Rice production is projected to drop by 5% to 19.9 million tonnes due to adverse weather conditions.
BANGKOK, THAILAND — Thailand’s rice exports rebounded in 2022-23 on strong supply and competitive prices, according to a report from the Foreign Agricultural Service (FAS) of the US Department of Agriculture.
Exports reached 8.8 million tonnes, a 14% increase from 2021-22. However, exports in 2023-24 are expected to drop to 8 million tonnes as more exportable rice supplies are available in Cambodia and Vietnam.
Production in 2023-24 is estimated at 19.9 million tonnes, a 5% drop from 2022-23 due to a combination of dry spells and flood damage.
Wheat imports for 2023-24 were revised upward to 3 million tonnes but are still 5% below the 2022-23 estimate. The upturn in demand for feed wheat imports will not offset a slow recovery in milling wheat demand, the FAS said.
Feed mills shifted to feed wheat for poultry and swine in response to high corn prices.Milling wheat imports were up 29% in the first five months of 2023-24 as the tourism sector continues to recover from the pandemic.
Source Link : https://www.world-grain.com/articles/19610-thailands-rice-exports-rebound-on-strong-supply-prices
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