Rice exports in the first 5 months of 2024 brought in over 100 billion baht to the country.

Rice exports in the first 5 months of 2024: Thailand was able to export approximately 4.6 million tons of rice.

Due to the volatile weather conditions that may affect the amount of rice production, many countries are concerned that there will not be enough rice to meet domestic consumption and have increased their rice imports. The major rice importing countries of Thailand are Indonesia, Iraq, the United States, the Philippines and South Africa.

Mr. Ronnarong Poolpipat, Director-General of the Department of Foreign Trade, revealed that in the first 5 months of 2024 (January – May), Thailand was able to export approximately 4.6 million tons of rice, an increase of 32.18%, with a value of approximately 106,283 million baht, an increase of 64.59% or approximately 2,957 million US dollars, as a result of rice importing countries still having a need to import rice to increase their domestic rice stocks.

As India continues to control rice exports and the baht weakens to 36-37 baht per US dollar, Thai rice prices remain competitive and are expected to remain so in 2024.

Thailand will be able to export rice beyond the target of 7.5 million tons, but the department will closely monitor global rice trade, especially the rice export control measures after India’s elections, to assess the situation and discuss with the Thai Rice Exporters Association to adjust the export target.

For the results of bringing small entrepreneurs to participate in the exhibition of Thai rice products at the THAIFEX-Anuga Asia 2024 food exhibition during 28 May – 1 June 2024, the conclusion was satisfactory. It received a lot of interest from buyers and importers from various countries such as China, Malaysia, Hong Kong, Singapore, Bangladesh, France, Canada, Australia and the United Arab Emirates.

Including new markets such as Mongolia, Uzbekistan, Saudi Arabia and Palestine, and also received orders from hotel and restaurant operators in Thailand, with orders received immediately at the event worth over 150 million baht, an increase of 56.25%, and it is expected that there will be orders within 1 year worth approximately 500 million baht, or an increase of 66.67%.

In addition, the demonstration activity of Thai rice cooking under the concept of “Taste the Authentic Thai Cuisine with Premium Thai Rice” was also well-received, with more than 74,000 visitors both at the event and via online channels.

For the organization of the Thai rice public relations activity at the THAIFEX food exhibition, in addition to helping to increase opportunities for Thai rice trade, it also helps to build confidence and show Thailand’s potential.

As a producer and exporter of world-class quality rice, and in line with the policy of generating income and expanding marketing channels for small entrepreneurs of Mr. Phumtham Vejjayachai, Deputy Prime Minister and Minister of Commerce

Source of information: news.ch7.com