Thai exports of rice increase by 20% from January to October
Thailand’s rice exports increased by 20% year-on-year, reaching 8.35 million tonnes between January and October 2024, with a 40% rise in value to US$5.41 billion. White rice accounted for 62% of exports, followed by jasmine rice. The top markets were Indonesia, Iraq, and South Africa. With strong demand, exports are expected to reach 10 million tonnes by year-end, but a potential contraction in 2025 is anticipated due to India’s lifted export restrictions.
Thailand exported 8.35 million tonnes of rice between January and October this year, an increase of 20% over the same period last year, the Commerce Ministry reported on Thursday.
The value of exported rice in those 10 months also rose 40% year on year to US$5.41 billion or 191.03 billion baht, Arada Fuangtong, director-general of the Department of Foreign Trade, said.
White rice is responsible for 62% of the total exports or 5.18 million tonnes, followed by jasmine rice at 1.37 million tonnes, steamed rice at 1.01 million tonnes, fragrant rice at 0.54 million tonnes, sticky rice at 0.23 million tonnes and brown rice at 0.02 million tonnes.
Arada said Thailand’s five biggest export markets are Indonesia, which imported 1.12 million tonnes of rice, followed by Iraq (0.95 million tonnes), South Africa (0.72 million tonnes), the United States (0.7 million tonnes), and the Philippines (0.49 million tonnes).
The department has set the target of rice exports in 2024 at 9 million tonnes, said Arada, adding that by combining the 10-month tally and export applications filed in November, total rice exports from January to November are anticipated to have already reached 9.27 million tonnes.
“There is a chance that rice exports this year could reach the 10 million tonnes milestone, as demand in overseas markets is expected to increase during the Christmas and New Year holidays,” she said. “Some importers might also increase their orders to prepare for the Chinese New Year in late January.”
The Department of Foreign Trade estimates that rice exports in 2025 will contract due to India’s lifting of export restrictions, which were implemented to increase domestic stock.
“The department will discuss measures to boost rice exports in 2025 with the Thai Rice Exporters Association, including plans to secure orders from new markets to compete with India and other countries,” Arada said.
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Source : Nation Thailand
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