Thai Rice Exports in Q1 Surge by 19.4%
Published on: May 7, 2024.
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Thai Rice Exports Increase by 19.4% in Q1
The weakening baht has led to a 19.4% increase in Thai rice exports for the first quarter of this year. Last year, Thailand exported 2.06 million tonnes of rice during this period, while this year, they have exported 2.46 million tonnes.
According to Charoen Laothamatas, the president of the Thai Rice Exporters Association, the export value for January to March is estimated to be 56.73 billion baht (US$1.61 billion), marking a 49% increase from the same period last year.
However, rice exports in March experienced a 10.4% decrease compared to February. In March, Thailand exported 716,619 tonnes of rice worth 17.33 billion baht, while in February, they exported 800,225 tonnes worth 18.53 billion baht.
Decline in Exports of Fragrant and Parboiled Rice
In February, the exports of Hom Mali fragrant rice, broken rice, and parboiled rice were lower than in January. Parboiled rice, in particular, is expected to decline by 50% for the entire year due to decreased demand from buyers and cheaper alternatives from India.
In March, exports of Hom Mali rice registered a 4.5% drop from February. Thailand exported 109,448 tonnes of Hom Mali rice to major markets such as the US, Hong Kong, Singapore, Canada, China, the United Kingdom, and Australia.
April Export Expectations and Pricing
Thailand anticipates exporting around 800,000 tonnes of rice in April. This is due to commitments to fulfill supply contracts with buyers in ASEAN, Japan, African countries such as Angola, Mozambique, and Ivory Coast, and Middle Eastern countries like Iraq.
The export prices for Thai white rice and parboiled rice are as follows:
- 5% White Rice: US$599/tonne
- Vietnamese Grain: US$579-US$583/tonne
- Pakistani Rice: US$578-US$582/tonne
- Thai Parboiled Rice: US$602/tonne
- Indian Rice: US$537-US$541/tonne
- Pakistani Rice: US$601-US$605/tonne
Global Rice Exports
In the first quarter, India remained the world’s largest rice exporter, with 4.3 million tonnes exported. This marks a 28.1% decrease from the same period last year. Thailand ranked second with 2.46 million tonnes, a 19.4% increase. Vietnam came in third with 2.18 million tonnes, and Pakistan was fourth with 1.98 million tonnes.
For more information about rice exporters and suppliers, visit Has Rice.
Source: Thai PBS World
