Thailand lifts 2024 rice export projection
Thailand expects to export 8.2 million tonnes of rice this year, up from a previous forecast of 7.5 million, helped by demand from major markets and a weakening THB, according to the country’s Commerce Ministry.
Agricultural labourers working in a rice field in Suphan Buri province, Thailand. Photo courtesy of bangkokpost.com.
The ministry revealed that rice importers want to import rice for consumption and to keep it as stock for food security. The Philippines and Indonesia will also import rice to alleviate the impact of inflation and drought.
Ronnarong Phoolpipat, director-general of the Foreign Trade Department, acknowledged that rice production in the final quarter of the year is expected to pick up as the effects of the El Nino weather phenomenon have subsided.
The country’s rice shipment recorded a 13.7% rise from a year earlier to 8.76 million tonnes in 2023, beating a target of 8 million tonnes.
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