Thailand’s rice exports projected to grow almost 15 percent this year
Published on: February 10, 2022.
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Thailand’s rice exports have been forecast to rise by 14.8 percent this year to 7 million tonnes driven by sufficient water supply.
According to the Thai Rice Exporters Association (TREA)’s report, the nation exported 6.11 million tonnes of grain last year, up 6.68 percent from 5.73 million tonnes 2020. Its export value totaled at 108 billion THB (3.25 billion USD), down by 7.14 percent from 116 billion THB in 2020.
TREA President Charoen Laothammatas said in 2022, higher demand is anticipated thanks to a global economic recovery, while a favourable foreign exchange rate should make Thai rice competitive.
For the 2021/2022 harvest season, the association expects the production to increase to 30-32 million tonnes of paddy, up from 27-28 million tonnes in the 2020/2021 season.
A widespread drought is unlikely this year, as happened two years ago, Charoen said. Given the ample water supply, he added second-crop rice production is also expected to increase.
He said the container shortage and lack of shipping space causing relatively higher freight rates are expected to remain key risk factors for rice exports.
TREA expects Thailand’s rice exports in January will tally 700,000 tonnes, slightly down from 729,138 tonnes worth 12.5 billion THB in December 2021.
Source: https://en.vietnamplus.vn/thailands-rice-exports-projected-to-grow-almost-15-percent-this-year/221694.vnp
