Global Rice News

Rice exporters in Thailand are optimistic about the country’s rice prices staying high in the first half of this year due to India’s ban on white rice exports. The Thai Rice Exporters Association predicts that global rice prices will hover around $600 per tonne, the highest in over a decade, fueled by robust demand from various countries. Thailand, Vietnam, and Pakistan are the main rice-exporting countries in Asia.

Chookiat Ophaswongse, the honorary president of the Thai Rice Exporters Association, believes that Indonesia will continue to import rice this year, although possibly in smaller quantities compared to the previous year. In 2022, Indonesia imported almost 4 million tonnes of rice from various countries, including Thailand, Vietnam, Pakistan, and Myanmar.

Last year, rice exports from Thailand likely totaled 8.8-8.9 million tonnes, surpassing the initial projection of 8.5 million tonnes. The estimated value of these exports was 180 billion baht as the prices increased. In November 2022, rice exports reached 1 million tonnes, valued at 23.0 billion baht, compared to October 2022, representing a 19.9% increase in volume and a 23.3% increase in value. This increase was driven by higher exports of white and hom mali fragrant rice as key importers sought to compensate for reduced domestic supply amidst record-high global rice prices.

The Thai Rice Exporters Association expects that the volume of rice exports in the previous month was around 900,000 tonnes. Exporters are committed to delivering a large quantity of rice this month, and there is significant demand from key importers in Asia, including Indonesia, Malaysia, the Philippines, and Japan. Additionally, major markets in Africa, the Middle East, and the Americas are expected to have strong demand for white rice, glutinous rice, and fragrant rice.

Thailand’s rice supply remains sufficient, and the price of Thai rice remains competitive, making it a preferred choice for importers. As of December 27, 2023, the price of Thai white rice 5% was quoted at $659 per tonne, while prices from Vietnam and Pakistan ranged from $653-657 and $593-597 per tonne, respectively. The price of Thai parboiled rice was $659 per tonne, with prices for parboiled rice from India and Pakistan ranging from $513-517 and $546-550 per tonne, respectively.

The Thai Rice Exporters Association forecasts that Thailand will ship around 7.5 million tonnes of rice this year, with the possibility of India allowing rice exports in the second half. However, the impact of the El Niño weather phenomenon on global rice production remains uncertain and will be closely monitored.

According to data from the Thai Customs Department, from January to November 2023, Thailand exported 7.95 million tonnes of rice valued at 160 billion baht ($4.61 billion), representing a 14.7% increase in volume and a 28.9% increase in value compared to the same period last year.

Source: [Bangkok Post](https://www.bangkokpost.com)