President of the Thai Rice Exporters AssociatioCharoen Laothammatas predicted that the figure will reach 7.5 million tonnes this year, a 24.2% drop from last year’s 9.94 million tonmes.
Bangkok (VNA) – Thailand's rice e🌟xports are projected to decline by 33% year-on-year in the first quarter of this year, accor🌳ding to the Thai Rice Exporters Association.
During January-February, the country exported a total of 1.1 million tonnes of rice, down 32% annually, with white rice exports facing the steepest decline.
President of the association Charoen Laothammatas predicted that the figure will reach 7.5 million tonnes this year, a 24.2% drop from last year’s 9.94 million tonmes.
Two key factors behind the decline are India’s resumption of white rice exports after a two-year suspension and a global rice production hike of 10 million tonnes. Charoen noted that the strengthening of the Thai baht poses another challenge.
In terms of value, Thai rice remains the priciest in the global market. As of February, Thailand’s 5% broken white rice was priced at 415-419 USD per ton, compared to 393-397 USD per tonne for Vietnamese rice, 406-410 USD per tonne for Indian rice, and 382-386 USD per tonne for Pakistani rice./.
Thailand’s rice exports are expected to face stiffer competition as India has removed export restrictions and taxes, allowing unlimited rice exports, according to Charoen Laothammatas, President of the Thai Rice Exporters Association.
Thai rice export prices fell to a 14-month low this week due to pressure from weak demand and competition from other rice exporting countries, while Indian price rose slightly on a stronger rupee, despite sluggish demand from Asia and African buyers.
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