General

Rice traders are delighted with the growth in rice exports, predicting that within 3 months the total will increase to 2.5 million tons.

Bangkok, Thai Rice Exporters Association It was revealed that Thai rice exports to the world market in the first 2 months of 2024 still grew by 24.4%, worth more than 1,126.4 million US dollars. It is expected that in the first quarter, Thai rice exp...


Bangkok, Thai Rice Exporters Association It was revealed that Thai rice exports to the world market in the first 2 months of 2024 still grew by 24.4%, worth more than 1,126.4 million US dollars. It is expected that in the first quarter, Thai rice exports will definitely exceed 2.5 million tons. Throughout 2024, exports will exceed 7.5 million tons.

The Thai Rice Exporters Association revealed that rice exports in February 2024 had a volume of 800,225 tons worth 18,531 million baht, with the volume decreasing by 15.6% and the value decreasing by 11.2% compared to January 2024. with an export volume of 947,742 tons valued at 20,870 million baht because in February 2024, exports of white rice, parboiled rice, and jasmine rice decreased from the previous month. Due to the delivery of white rice To important buyers including Indonesia, the Philippines, Malaysia, including Iraq, the quantity decreased somewhat from the previous month when buyers rushed to import to compensate for the decreased domestic rice suppl
y.

The export volume of white rice was 503,733 tons, a decrease of 25.0% compared to the previous month, still being sent to main markets such as Indonesia, the Philippines, Angola, Malaysia, Iraq, Mozambique, and Togo, etc. while exporting parboiled rice The volume was only 43.574 tons, a decrease of 33.6% compared to the previous month. It is sent to main markets such as South Africa, etc. As for the export of jasmine rice (rice plants, the quantity was 114.424 tons, a decrease of 4.7% compared to the previous month. It continues to deliver to major markets such as the United States, Hong Kong, Canada, China, Singapore, the United Kingdom, etc.

The association expects that in March 2024, rice export volume will be at approximately 800,000 plants. Therefore, in the first quarter Therefore, it is expected that the export volume will be approximately 2.5 million tons because exporters still have rice delivery contracts that still need to be delivered to buyers.

Both in the group of white rice, which is stil
l mostly shipped to ASEAN countries such as Indonesia, the Philippines, Malaysia, as well as main markets.

in the African region and Middle East Similarly, parboiled rice commands more and more names as a result of which India still has an export tax on parboiled rice. which extends the time indefinitely

Meanwhile, important jasmine rice import markets in America and Asia continue to import to compensate for the decreased domestic rice supply. In addition, more and more of Thailand’s off-season rice products are starting to be released into the market. Including the value of the baht moving in a weakening direction. Help keep the price of Thai rice at a competitive level and attract more buyers to turn to Thai rice. The price of Thai rice, 5% Thai white rice, as of March 27, 2024, is at 601 USD per ton. while the price of white rice 5% of Vietnam and Pakistan were at 582-586 and 605-609 USD per ton, respectively, while the price of Thai parboiled rice was at 606 USD per ton. Meanwhile, Indian and Pakistani
parboiled rice were at 55, 1-555 and 618-622 USD per tonne.

However, this resulted in rice export numbers during the first 2 months of this year. (January-February) has a volume of 1,747,966 tons with a value of 1,126.4 million US dollars Or in baht, 39,401 million baht, with the volume increasing 24.4% and the value increasing 55.1% compared to the same period in 2023, which exported 1,405,337 tons worth 25,408 million baht (754.0 million US dollars) and it is estimated that the total rice exports Thailand’s projected rate of 7.5 million tons this year should definitely exceed this target, but what rate it will be? The association is considering the details again.

Source: Thai News Agency