Thailand’s rice exports boom, Iraq emerges as largest customer

Global exports of Thai rice from January to September surged 40% from last year to 5.41 million tonnes, with earnings rising 36% to 95.232 billion baht, the ministry said.

Thailand is now the world’s second-largest rice exporter after India.

The top five export markets for Thai rice in the first nine months were:

- Iraq with exports worth 15.405 billion baht (up 511%)

- United States, 14.029 billion baht (up 29%)

- South Africa, 8.017 billion baht (down 3%)

- China, 7.439 billion baht (up 30%)

- Hong Kong, 3.56 billion baht (up 1.6%).

The Rice Exporters Association of Thailand forecasts the country will export between 7 million and 8 million tonnes of rice this year as the weakening baht boosts competitiveness over India and Vietnam.

Iraq has returned to buying Thai rice in large quantities for the first time in seven years, with over one million tonnes purchased so far this year, the association said.

Meanwhile Phuket will host the 14th World Rice Conference from November 15 to 17, with Commerce Minister Jurin Laksanawisit scheduled to give the opening speech.

Thailand’s foreign trade agencies will be at the conference to showcase the country’s potential as a rice exporter.