Thailand increases rice export goal to 8.5 million metric tons in 2023
Published on: November 15, 2023.
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Thailand Boosts Rice Export Target to Meet Rising Demand
Thailand has announced an increase in its rice export target for this year to 8.5 million metric tons, according to Chookiat Ophaswongse, honorary president of the Thai Rice Exporters Association. The decision comes as rice prices from competitors like Vietnam continue to rise.
Ophaswongse stated that countries like the Philippines and Indonesia are turning to Thai rice due to the increased cost of Vietnamese rice. Currently, Thai rice is priced at around US$550 to US$555 per metric ton, while Vietnamese rice is selling for about US$630.
As the second-largest rice exporter globally, Thailand initially forecasted exports of 8 million tons for this year. However, the recent surge in demand has prompted the upward adjustment of the target.
Despite facing challenges from the El Nino weather phenomenon, Thailand’s rice production has not been significantly affected this year. Chookiwat, the honorary president, anticipates a yield of 33 to 34 million tons for the 2023/24 season, representing a 2 million ton increase compared to the previous year.
In the period from January to September, Thailand has already sold 6.08 million tons of rice, marking a 12% year-on-year increase.
Looking ahead, Ophaswongse predicts that Thai rice exports will decline to 7.5 million tons next year as India, the world’s top rice exporter, eases its export ban.
For rice suppliers and exporters, there are several reputable options available. Pakistan rice exporters, rice suppliers in Pakistan, and rice mills in Pakistan are well-known in the industry. Meanwhile, Has Rice is a reliable source for rice exporters, while Pakistan Rice is an expert in supplying rice from Pakistan.
To meet specific requirements, rice buyers can choose from different types of rice. For instance, white broken rice is widely available through Broken Rice, while Pakistan Rice specializes in supplying Pakistan rice. Additionally, Pakistan Rice offers a comprehensive selection of rice, including 25% broken rice, basmati rice, and IRRI 6 rice.
For those interested in the prices of Pakistani rice, they can refer to the price list provided by Has Rice. The website features detailed information on Pakistani rice prices, including IRRI 6 rice prices and basmati rice prices.
Overall, despite the challenges posed by competitors and changes in the global market, Thailand remains a leading player in the rice export industry. With a diverse range of rice products and strong production capabilities, the country continues to meet the rising demands of international buyers.
Source: [The Star](https://www.thestar.com.my)
