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Hua Hin
Tuesday, May 21, 2024

Thailand’s rice exports increased by 75% in January

Thailand’s rice export volume increased 75.2 percent year on year in January to 805,519 tonnes, buoyed by a weak Thai baht and year-end orders, according to the Ministry of Commerce on Monday.

According to Ronnarong Phoolpipat, director general of the ministry’s foreign trade department, the country’s rice export in January was valued at 14.28 billion baht (approximately 407 million US dollars), up 78.76 percent year on year.

Due to increased demand from Middle Eastern countries, Thailand’s rice export to the area increased to 2.3 million tonnes in 2022 from 630,000 tonnes in 2021, according to Ronnarong.

Nonetheless, he voiced concern about the baht’s recent rise, which he believes may make Thai rice exports less competitive.

This year, the government maintained its annual rice export target of 7.5 million tonnes.

Thailand exported 7.69 million tonnes of rice last year, exceeding its yearly target of 7.5 million tonnes, with the main markets including Iraq, South Africa, and China.

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