In response to high demand and the instability of the Baht currency, the government has set a target of 7.5 million tons for rice exports in 2023.
According to Foreign Trade Department Director-General Ronnarong Phoolpipat, the rice export target for this year was set after collaboration with the Thai Rice Exporters Association. Although demand for Thai rice remains robust this year, the Thai currency’s volatility may cause Thai rice to be more costly than competitors. This forces the government to cut its objective for this year to 7.5 million tons, down from 7.69 million tons shipped last year.
The Commerce Ministry will continue to promote Thai rice through events and conferences, as well as trade trips to significant partners including as China, Vietnam, Australia, and Germany, according to the director-general.
According to official data, the 7.5 million tons objective for 2023 marks a 22% increase from the 6.3 million tons of Thai rice exported in 2021. Last year, Iraq was the top Thai rice importer, with 1.6 million tons, followed by South Africa (775,000), China (750,000), the United States (650,000), and Benin (321,000).
