Bangkok (VNA) - Thailand's rice exports this year are expected to drop significantly from 9.95 million tonnes in 2024 because of intensifying global competition.
India has ended its ban on rice shipments, while production has increased in both exporting and importing countries as drought conditions subsided, according to deputy government spokesman Anukool Pruksanusak, as cited by Bangkok Post.
Indonesia, a key importer, may scale back rice imports as its domestic production rises and stockpiles remain substantial, he said.
Anukool said Thailand's rice exports reached nearly 10 million tonnes last year, surpassing the target by almost 1 million tonnes.
However, the situation has shifted this year, with exports potentially dropping to 7.5 million tonnes due to increased production and declining demand.
Thai rice exports rose 13% year-on-year in 2024, generating revenue of 225 billion THB (roughly 6.43 billion USD), up 27%./.
