The Department of Foreign Trade Reports Increase in Thai Rice Exports
The Department of Foreign Trade has announced that Thai rice exports for the past eight months have reached 5.29 million tons, representing a significant increase of 11.91%. This positive trend is expected to continue, with an estimated export target of 8 million tons for the entire year. The department has attributed this growth to consistent orders from countries such as the Philippines, Malaysia, Indonesia, and Japan.
Contrary to concerns about a potential shortage in the world rice market due to the Indian case, the department emphasizes that there is currently no shortage, but rather an increase in bargaining power. Despite the impact of the Indian ban on white rice exports and a decline in Chinese rice production, Thailand remains competitive in terms of value and quality. Recent sales to three countries validate this success.
Strong Performance in Thai Rice Exports
As of September 1, 2023, the Department of Foreign Trade reports that Thai rice exports during the first seven months of the year have reached 4.64 million tons. This represents a substantial increase of 13.45% in terms of quantity and a significant rise of 20.13% in value, totaling $2,568 million. In local currency, these exports are valued at 87,417 million baht.
When considering the latest figures from the Customs Department and the Department’s rice export license from January 1 to August 29, 2023, total exports amount to 5.29 million tonnes, an impressive increase of 11.91%. This upward trajectory signals positive results in mitigating concerns about the El Niño-induced drought. Furthermore, the department affirms its ability to meet the annual export target of 8 million tonnes thanks to discussions with the Thai Rice Exporters Association.
Increasing Demand for Thai Rice
The department expects the upward trend in rice exports to continue as more countries express interest in purchasing Thai rice. Several nations, including the Philippines, Malaysia, Indonesia, and Japan, have actively reached out to strengthen trade relations. Furthermore, Indonesia, Malaysia, and Japan have specifically emphasized their ongoing importation of Thai rice, insisting on adherence to quality and contractual standards.
Commenting on this development, Mr. Narong, leading a delegation of exporters to bolster ties with trading partners, stated, “Thailand’s reputation as a reliable rice exporter has instilled confidence in our partners. We have ample supply and will continue exporting, unaffected by India’s ban on white rice. We invite all interested parties to consider purchasing rice from Thailand.”
India’s Impact on the Global Rice Market
India’s decision to ban white rice exports and impose a 20% parboiled rice export tax between July 20 and August 25 has caused concerns in the global rice market. Additional measures, such as setting the minimum export price of basmati rice at $1,200 per ton, aim to prevent the mislabeling and declaration of white rice as basmati rice. Despite these developments, the department assures that there is no shortage of rice, as India continues to allow exports and provides exceptions to countries prioritizing food security.
Recent transactions showcase India’s appeal as a rice supplier, particularly with Singapore purchasing 110,000 tons of white rice, Bhutan procuring 79,000 tons out of a requested 90,000 tons, and Mauricius expressing interest in buying 14,000 tons. Moreover, numerous other countries have reached out to India for rice purchases. This advantageous position allows Thailand to increase its export potential, especially since multiple countries are keen on acquiring Thai rice. Notably, the price of Thai white rice rose by 5% on August 29, 2023, reaching $620 per ton compared to the 2022 average of $437 per ton. In comparison, Vietnamese rice is priced at $635 per ton, making Thailand’s offering more appealing.
The Department of Foreign Trade revealed that rice exports for the past 8 months amounted to 5.29 million tons, an increase of 11.91%, expecting 8 million tons for the whole year due to continuous orders. revealed the Philippines, Malaysia, Indonesia and Japan. Interested in buying more Thai rice? He reiterated that the Indian case has some impact on the world rice market. But there is no shortage. just increase bargaining power After using the straight dew method Recently, it was sold for 3 countries.
September 1, 2023 – Mr. Ron Ron Poonphiphat, Director General of the Department of Foreign Trade, revealed that Thai rice exports during the seven months of 2023 totaled 4.64 million tons, an increase of 13.45%, valued at $ 2,568 million, an increase of 20.13% and accounts for In baht, worth 87,417 million baht, an increase of 13.45%, but if you look at the latest figures from the Customs Department and the Department’s rice export license from 1 January to 29 August 2023, exports are 5.29 million tonnes, which an increase of 11.91% which is considered a continuous increase It had positive results from concerns about drought caused by the El Niño phenomenon. India bans white rice exports Chinese rice production declines Many countries import for food security. and the value of the baht is competitive Ensure that the whole year will be able to export in accordance with the set target of 8 million tonnes due to discussions with the Thai Rice Exporters Association confirm the same
for rice export trends is expected to continue to increase because there is a demand to buy more Thai rice There are many countries that are contacting them and are interested in buying Thai rice. Especially from countries that Thailand has visited before to strengthen trade relations. The Philippines, Malaysia, Indonesia and Japan, including other countries. already connected It should be clear in September 2023 that Indonesia, Malaysia are also interested in Japan, insisting on the continuous import of Thai rice. and asked Thailand to deliver rice of the quality and standards in accordance with the contract
“Leading a delegation of exporters to strengthen ties with trading partners The Philippines, Malaysia, Indonesia and Japan have gained confidence that Thailand is a rice exporter. enough rice and will continue to export as usual Although India has banned the export of white rice. by confirming that it does not affect Thai rice exports Everyone can ask to buy rice from Thailand,” said Mr Narong.
Mr. Ron Ron said that India’s ban on the export of white rice Between July 20 and August 25, a 20% parboiled rice export tax was imposed on August 26, setting the minimum export price of basmati rice at $ 1,200 per ton. In order to prevent the export of white rice labeled and declared as basmati rice, it is considered to have an impact on the world rice market. Causing concerns and affecting the price that has risen But there should not be a problem with a shortage of rice. Because India is still open for exports. Exceptions are made for countries where they can buy rice for food security purposes. It gives India more bargaining power.
Recently, Singapore has contacted India to buy 110,000 tons of white rice, which the Indian government approved to sell on August 29, Bhutan asked to buy 90,000 tons and sold 79,000 tons, and Mauricius asked to buy 14,000 tons, India also sold. And also found that there are many other countries that have contacted to buy rice from India, while Thailand has the opportunity to export more. because many countries are interested in buying Thai rice and the price trend is improving For example, the price of white rice rose 5% on August 29, 2023 to $ 620 per ton. From the average price of 2022 at $ 437 per ton, $ 635 per ton in Vietnam. the price of Vietnam is more expensive than Thailand
#Rice #exported #months #million #tons #close
