Thailand rice exports to see significant decline this year
Thailand’s rice exports are expected to drop from 9.95 million tons in 2024 to around 7.5 million tons this year, primarily due to heightened global competition. India’s resumption of rice exports and rising domestic production in key importing nations like Indonesia have contributed to reduced demand. Despite this, Thailand’s 2024 rice exports grew 13%, generating revenue of THB225 billion ($6.43 billion), up 27%.
Thailand’s rice exports this year are expected to drop significantly from 9.95 million tons in 2024 because of intensifying global competition.
India has ended its ban on rice shipments, while production has increased in both exporting and importing countries as drought conditions subsided, according to deputy government spokesman Anukool Pruksanusak, as cited by Bangkok Post.
Indonesia, a key importer, may scale back rice imports as its domestic production rises and stockpiles remain substantial, he said.
Anukool said Thailand’s rice exports reached nearly 10 million tons last year, surpassing the target by almost 1 million tons.
However, the situation has shifted this year, with exports potentially dropping to 7.5 million tons due to increased production and declining demand.
Thai rice exports rose 13% year-on-year in 2024, generating revenue of THB225 billion (roughly $6.43 billion), up 27%.
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Source : The Investor
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