Thailand exported about 9.95 million tonnes of rice last year, the highest volume in since 2018, but this year’s exports are predicted to drop to 7.5 million tonnes, due to increased competition from and output by India, Arada Fuangthong, director-general of Foreign Trade Department, said today.
She attributed the Thai rice export increase to India’s export ban, from July 2023 to October last year, prompting rice importing countries to turn to Thai rice.
Rice exports last year were 13% higher than in 2023 and generated 225.6 billion baht in foreign revenue, an increase of 27% over the preceding year. About 3.37 million tonnes of rice were exported to African countries (34%), followed by 3.33 million tonnes to Asian countries, 1.34 million tonnes each to the Middle East and the US and 0.30 million tonnes to the European market.
Major Thai rice export markets are Indonesia, which imported 1.33 million tonnes, accounting for 13% of total exports, Iraq, 1 million tonnes, the US, 0.85 million tonnes, South Africa, 0.83 million tonnes, and the Philippines, 0.62 million tonnes.
The prices of rice from India and Vietnam increased last year to almost the same level as Thai rice. The export prices of the Thai and Vietnamese 5% white rice ranged around US$574 per tonne, compared to US$529 for Indian rice and $556 for Pakistani rice.
Arada predicted that India will export about 22 million tonnes of rice, because the country has a large stockpile left over after its export ban, while Thailand and Vietnam are expected to export about 7.5 million tonnes each.
She said competition is expected to intensify this year, due to the return of India to the global rice market and increased outputs by exporting countries, resulting in lower rice prices.
Between January 1st and 27th, Thailand exported 673,276 tonnes of rice, down 18.88% from the same period last year.
She disclosed that the department has streamlined export procedures, shortening the time for exporters to obtain an export permit from three days to just 30 minutes.
She also said the department has increased export channels, through which small exporters can export rice, by enabling them to participate in rice and farm produce expos in Germany and the US.
