Keyword: "rice exports"

Thailand’s full-year exports can fall below the forecast of 7.5 million tonnes, but exporters are seeing more US orders after a 90-day pause on the imposition of steep new tariffs.

Thailand’s 5% broken rice fell to 395-400 USD per tonne, its lowest since January 2022.

Thailand's rice exports this year are expected to drop significantly from 9.95 million tonnes in 2024 because of intensifying global competition.

The following is a brief review of the day’s events as reported by the Vietnam News Agency.

Vietnam’s rice exports to Singapore recorded significant growth in 2024, cementing Vietnam’s position as the third-largest rice supplier of the city state, according to the Vietnam Trade Office in Singapore.

After a record year in 2024 export volume and value, Vietnam’s rice sector is moving into a new year of challenges and opportunities, with significant swings expected in both supply and demand for rice on the world stage.

Rice exports are likely to hit a record high of 9 million tonnes in 2024, given a total volume of nearly 8.5 million tonnes shipped abroad in the first 11 months, according to insiders.

Despite challenges in the global rice market, Vietnam's is still on a right track to a new export volume record of over 8 million tonnes in 2024, surpassing last year’s result, according to insiders.

With the growth of the ten-month exports and domestic production capabilities, this year’s rice exports are expected to exceed the record set in 2023.

Thailand’s rice exports are expected to face stiffer competition as India has removed export restrictions and taxes, allowing unlimited rice exports, according to Charoen Laothammatas, President of the Thai Rice Exporters Association.

India, the world’s leading rice exporter, recently lifted its ban on white rice exports, significantly impacting the global rice market and specifically the Vietnamese rice sector. This development presents both opportunities and challenges for Vietnamese rice producers, according to insiders.

Thailand’s rice exports this year are expected to be higher than last year despite the recent flood crisis, according to the Thai Rice Exporters Association (TREA).

Vietnam secures a top position in global rice exports, with a projected 2024 output of 43 million tonnes.Vietnam secures a top position in global rice exports, with a projected 2024 output of 43 million tonnes.

Thailand's rice exports rose 21.97% in the first seven months of 2024 compared to a year earlier, driven by rising global demand as rice-importing countries seek to secure stocks amid food security concerns.

Insiders said that rice exports could bring in a record turnover of 5 billion USD this year if the pace of shipment is maintained like at present.

Vietnam’s rice industry is experiencing a golden period, with exports projected to surpass 5 billion USD this year, fueled by robust global demand and stable prices, according to experts.

Vietnam earned nearly 3 billion USD from exporting 4.68 million tonnes of rice in the first six months of this year.

The reduction of the rice import tax by the Philippines will create more advantages and increase opportunities for Vietnamese rice to enter the market later this year, insiders said.

Vietnam exported more than 2.1 million tons of rice worth nearly 1.4 billion during the first quarter of the year, representing an increase of about 42% against the same period from last year, according to the Ministry of Agriculture and Rural Development.

This year is forecasted to be the second consecutive year that Vietnam’s rice exports exceed 8 million tonnes, bringing in about 5 billion USD.