Thailand’s rice exports likely to exceed 8 million tonnes in 2023

Illustrative image (Source:  (Photo: Bangkokpost)

Bangkok (VNA) - Thailand's rice exports arelikely to surpass 8 million tonnes this year, driven by higher global demand ascountries rush to stock up to brace for the effects of the El Niño weatherphenomenon, according to Thai Commerce Minister Jurin Laksanawisit.

He said the Philippines is expected to increase itsrice purchases to 2-3 million tonnes, while Indonesia is expediting procurementof a substantial quantity of rice from both Thailand and Vietnam.

Iraq is expected to import around 1 million tonnesthis year, on par with 2022, said Jurin.

Last year Thailand shipped 7.69 million tonnes ofrice, outperforming the ministry's target of 7.5 million tonnes. The ministryset a goal of 7.5-8 million tonnes of rice shipments this year.

Jurin noted that the baht is weaker, which makesThai rice exports more competitive.

The important agricultural crops with high pricesare fragrant paddy, Pathum Thani fragrant paddy, white rice paddy and glutinouspaddy rice.

The Kasikorn Research Centre (KRC) predicted thatthe country’s total rice production this year will be between 32.7 and 33.2million tonnes, including about 7.6 million tonnes from the second crop, whichwill be enough for domestic consumption and export. It also warned that the output may be lower if drought prolongs as a consequence of El Nino./.

VNA