Thailand aims for higher rice export target

A rice store in Bangkok, Thailand. (Photo: AFP/VNA)

Bangkok (VNA) - Thailand plans to export 7.5 million tonnes of rice this year, up from a previous target of 7 million tonnes, thanks to increased output and a weak baht amid global food insecurity.

Thai Government Spokesperson Rachada Dhnadirek said in a statement that the country exported 4.09 million tonnes of rice in the first seven months of 2022, up 54% from a year earlier.

She noted favourable weather has boosted rice production while a weak baht has kept Thai rice prices competitive. The Thai currency was hovering near its weakest level in more than 15 years against the US dollar.

The spokesperson added the Ministry of Commerce expects paddy rice output at 26.92 million tonnes in the 2022 - 2023 crop year, up 2.09% from a year earlier.

Thailand is currently the world’s third largest rice exporter after India and Vietnam. It has seen higher demand for its rice as countries seek to ensure food security and replace wheat and corn in the animal feed industry./.

VNA