Thailand exported 2.79 million tonnes of rice for 1.5 billion USD in the first four months of this year, up 23% year-on-year, according to the Thai Government’s spokesperson Anucha Burapachaisri.
Vietnam earned 1.56 billion USD from shipping 2.95 million tonnes of rice abroad in the first four months of this year, increases of 54.5% and 43.6%, respectively, year-on-year.
The Ministry of Agriculture and Rural Development announced a decision to set up the public-private partnership (PPP) task force on rice and discussed an action plan for 2023 at a recent conference held in the Mekong Delta city of Can Tho
The Vietnamese rice industry is set to benefit from the high demand and prices this year, with lower input costs leading to expanded profit margins for rice businesses.
According to the Thai Rice Exporters' Association, the country’s rice exports to the Philippines are expected to double in 2023 as rival supplier Vietnam faces capacity constraints.
Vietnam’s rice exports are predicted to reach just 6 million tonnes this year, lower than last year's figure due to limited supply and inventories, said businesses.
Vietnam exported nearly 7.2 million tonnes of rice worth 3.49 billion USD last year, including many shipments navigating demanding markets such as Japan and the European Union (EU).
Vietnam exported nearly 7.2 million tonnes of rice worth 3.49 billion USD last year, including many shipments navigating demanding markets such as Japan and the EU.
Thailand is on course to overtake Vietnam as the world’s second biggest rice exporter this year, according to the Thai Rice Exporters Association (TREA).
Thailand earned 95.23 billion baht (2.54 billion USD) from exporting 5.41 million tonnes of rice in the first nine months of this year, up 40% in volume and 36% in value from the same period last year, according to the Ministry of Commerce.
About 6.07 million tonnes of rice worth 2.94 billion USD was exported in the first 10 months of 2022, up 17.2% in volume and 7.4% in value year on year, according to the Ministry of Agriculture and Rural Development (MARD).
Thailand’s rice exports are likely to exceed 8 million tonnes this year as flooding caused by Typhoon Noru had little impact and a weak baht has helped overseas sales, President of the Thai Rice Exporters Association (TREA) Chookiat Ophaswongse has said.
Prime Minister Pham Minh Chinh has requested relevant ministries and sectors to take appropriate measures to stabilise the market and rice prices, and ensure the interests of farmers after information that India will restrict rice exports.
Vietnam’s rice export is likely to surpass the target set for this year, the country earned nearly 2.4 billion USD from exporting 4.97 million tonnes of rice in the first eight months of this year, up 20.7% in volume and nearly 9.9% in value from the same period last year.
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