Thai rice exports over the past seven months have exceeded 6.5 million metric tons due to increasing demand, while the depreciation of the Thai baht has boosted the competitiveness of Thai traders.
President of the Thai Rice Exporters Association Pol Lt. Charoen Laothamatas revealed that rice exports this year til July 24th totaled 6.2 million metric tons, a 1.1% increase compared with the same period last year. This makes Thailand the world’s second-largest rice exporter after India’s 7.5 million. Vietnam comes in third place at 4.3 million metric tons.
The main importers of Thai rice are Benin, Indonesia, China, South Africa, the Philippines, and the United States. Most imports consist of white rice, followed by parboiled rice, considered likely to increase in demand to compensate for the decline in rice yields in countries such as the Philippines, Indonesia, Malaysia, and Japan, as well as African countries.
In addition, the weakening baht has made Thai rice prices competitive. Other factors contributing to rice exports include Thailand’s government-to-government deal with China, forecasts of drought in some Asian countries such as China and India, as well as Thailand’s likelihood of offloading all of its government rice stocks.
The Thai Rice Exporters Association has therefore increased its forecast of rice exports this year to 11 million metric tons valued at 4.3 billion US dollars, from its previous estimate of 9.5 million. The forecast exceeds the estimate made by the United States Department of Agriculture, which expects Thailand to hold its spot as the world’s second-largest rice exporter at 10.5 million metric tons, trailing India’s 12.8 million.
Information and Source
Reporter : Benjamin Rujopakarn
Rewriter : Rodney McNeil
National News Bureau & Public Relations : http://thainews.prd.go.th
President of the Thai Rice Exporters Association Pol Lt. Charoen Laothamatas revealed that rice exports this year til July 24th totaled 6.2 million metric tons, a 1.1% increase compared with the same period last year. This makes Thailand the world’s second-largest rice exporter after India’s 7.5 million. Vietnam comes in third place at 4.3 million metric tons.
The main importers of Thai rice are Benin, Indonesia, China, South Africa, the Philippines, and the United States. Most imports consist of white rice, followed by parboiled rice, considered likely to increase in demand to compensate for the decline in rice yields in countries such as the Philippines, Indonesia, Malaysia, and Japan, as well as African countries.
In addition, the weakening baht has made Thai rice prices competitive. Other factors contributing to rice exports include Thailand’s government-to-government deal with China, forecasts of drought in some Asian countries such as China and India, as well as Thailand’s likelihood of offloading all of its government rice stocks.
The Thai Rice Exporters Association has therefore increased its forecast of rice exports this year to 11 million metric tons valued at 4.3 billion US dollars, from its previous estimate of 9.5 million. The forecast exceeds the estimate made by the United States Department of Agriculture, which expects Thailand to hold its spot as the world’s second-largest rice exporter at 10.5 million metric tons, trailing India’s 12.8 million.
Information and Source
Reporter : Benjamin Rujopakarn
Rewriter : Rodney McNeil
National News Bureau & Public Relations : http://thainews.prd.go.th
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