Thailand drops to 4th largest global rice exporter
According to the Thai Rice Exporters Association, the country exported 5.72 million tonnes of rice in 2020, which is a 24.5% decrease year on year. The export value was 115 billion baht. This makes Thailand the world’s fourth largest rice exporter, behind India, Vietnam and Pakistan.
421,477 tonnes of Thai rice were exported in January 2021, which is a 23.2% drop from last year. The export value for that month was 7.8 billion baht.
The main factors for the decrease in rice exports are a shortage of shipping containers and rising sea freight charges. The price of Thai rice is also higher than that of its competitors, leading consumers to buy cheaper rice from other sources.
As for February 2021, it is estimated that Thai rice exports will be around 400,000-500,000 tonnes, as exporters still have contracts with buyers in Africa, Asia and the Americas.