23-6-2023 (BANGKOK) Thailand’s rice export volume for the first five months of this year has experienced a remarkable surge of 26.64% compared to the previous year, reaching a total of 3.47 million tons. This substantial increase is attributed to the stronger global demand for Thai rice and the weakening of the Thai baht, according to a Ministry of Commerce official who made the announcement on Friday.
Ronnarong Phoolpipat, the director general of the Ministry’s foreign trade department, revealed that the value of rice exports during the January-May period amounted to 1,896 million U.S. dollars, marking a significant year-on-year rise of 30.58%.
During a recent news conference, Ronnarong expressed his optimistic outlook for Thailand’s rice export, stating that it is expected to exceed 8 million tons in 2023. This projection surpasses the Ministry’s initial target range of 7.5 to 8.0 million tons.
Chookiat Ophaswongse, the honorary president of the Thai Rice Exporters Association, further supported this positive outlook. Chookiat mentioned on Tuesday that many countries are stockpiling rice due to concerns about the drought caused by the El Nino phenomenon. However, he reassured that despite the impact of climate change, Thailand will have sufficient rice stock for exports.
Thailand holds a prominent position as one of the world’s major rice exporters. Last year, the country successfully exported 7.69 million tons of rice, surpassing its annual target of 7.5 million tons. Key markets for Thai rice include Iraq, South Africa, China, and the United States.
