Thailand’s rice exports on upward trajectory thanks to higher demand

A farmer in Mae Hong Son province threshes rice paddy in 2017. (Photo: Bangkok Post)

Bangkok (VNA) - Thailand's rice exports are expected to reach 600,000 to 650,000 tonnes in May on pending delivery contracts, following higher rice demand and the weakening baht.

According to President of the Thai Rice Exporters Association (TREA) Charoen Laothamatas, Thailand exported 2,291,916 tonnes of rice worth 39.44 billion THB (1.14 billion USD) in the January-April period, up 52.7 percent and 36.4 percent year-on-year, respectively.

However, in April alone, Thailand exported 548,636 tonnes of rice worth 9.97 billion THB, down 15.3 percent and 10 percent month-on-month, he said.

He said the decline in April rice exports were due to rising domestic prices, which led to a hike in the export prices. As a result, rice importers delayed purchase and delivery.

Earlier, TREA forecast that the total export volume will likely be at least 8 million tonnes this year, well over the target of 7 million tonnes, and export value is estimated at 130 billion THB, up from 110 billion THB last year.

Thailand shipped 6.11 million tonnes of rice last year, up 6.68 percent from 5.73 million tonnes in 2020./.

VNA