Weakening baht helps bolster Thailand’s rice exports
Thailand’s rice exports rose 75.20% in January year on year thanks to the baht weakening against the dollar, the Department of Foreign Trade (DFT) said on Monday.
Some 805,518 tonnes of rice worth 14.27 billion baht was shipped out in January compared to 459,773 tonnes worth 7.95 billion baht in the same month last year, DFT said.
“A weaker baht has helped Thai rice compete strongly in the international market,” DFT director-general Ronnarong Phoolpipat said.
Thanking Indonesia, Bangladesh, Iraq and the Middle East for importing more Thai rice, he said the impact of the currency exchange rate on exports in February will have to be monitored.
He went on to say that Thailand’s rice export in 2022 came in at 2.3 million tonnes, up 26% compared to 630,000 tonnes in the previous year.
"We believe Thailand's rice export will expand further this year," he said, adding that the aim is to export 7.5 million tonnes of rice this year.
He said Thailand was ready to penetrate the markets of Japan and South Korea, adding that exporters were looking to ship out organic Thai rice as well.
The price per tonne of rice in the region is as follows:
• White rice: Pakistan US$490, Thailand $470, Vietnam $465, India $435
• Jasmine rice: India $1,250, Thailand $825, Vietnam $560
• Steamed rice: Pakistan $515, Thailand $475, India $385.
Related stories:
Thai rice export target set at 7.5 tonnes this year, down from 2022
Two varieties of Thai rice get GI tags in Indonesia, boosting export potential
Thailand opens rice DNA testing centre after Hom Mali loses world crown
