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

Illustrative image (Source:  (Photo: Bangkokpost)

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

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

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

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

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

The important agricultural crops with high prices are fragrant paddy, Pathum Thani fragrant paddy, white rice paddy and glutinous paddy rice.

The Kasikorn Research Centre (KRC) predicted that the country’s total rice production this year will be between 32.7 and 33.2 million tonnes, including about 7.6 million tonnes from the second crop, which will 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