Thailand Experiences Growth in Rice Exports, Boasting Higher Numbers and Value
Published on: May 7, 2024.
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Thailand’s Rice Exports Increase by 19.4% in Q1, Reaching 2.46 Tonnes
Thailand has reported a significant increase in rice exports for the first quarter of this year. According to Charoen Laothamatas, President of the Thai Rice Exporters Association, the country exported 2.46 tonnes of rice during this period, marking a 19.4% growth compared to the same period last year. This surge in exports reflects the strong demand for Thai rice in global markets.
The export value for the January-March period is estimated at 56.73 billion THB (approximately 1.61 billion USD), representing a substantial 49% increase in value. This showcases the economic success that Thailand’s rice industry has achieved in recent months.
Despite the overall positive trend, March saw a slight decline in rice exports compared to February. The country exported 716,619 tonnes of rice in March, which is 10.4% lower than the 800,225 tonnes exported in the previous month. However, the value of these exports remained high, reaching 17.33 billion THB.
One particular rice variety that experienced a decrease in exports in March was Hom Mali fragrant rice. The export of this fragrant rice decreased by 4.5% compared to February, with 109,448 tonnes being exported to major markets such as the US, Hong Kong, Singapore, Canada, China, the UK, and Australia.
Looking ahead, Thailand aims to ship approximately 800,000 tonnes of rice in April. This is in line with the existing supply contracts with buyers from ASEAN, Japan, various African countries including Angola, Mozambique, and Ivory Coast, as well as Middle Eastern countries like Iraq. These commitments demonstrate the country’s ability to meet the demand and maintain its position in the international rice market.
It is worth noting that India still holds the title of the world’s largest rice exporter in the first quarter, despite a decline of 28.1% compared to the same period last year. Following India, Thailand takes second place in rice exports with 2.46 million tonnes, while Vietnam and Pakistan rank third and fourth respectively with 2.18 million tonnes and 1.98 million tonnes.
Thai rice continues to gain popularity globally due to its quality and diverse range of varieties. With consistent efforts and strategic trade partnerships, Thailand’s rice industry is expected to maintain its upward trajectory in the coming months, further solidifying its position as a leading rice exporter.
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