Bangkok, Thai Rice Exporters Association Still confident that demand for Thai rice in the world market will continue to be high until the beginning of next year. After India still announced a policy to limit rice exports. Confident that this year Thai rice export numbers will reach 8 million tons.
The Thai Rice Exporters Association has reported rice export figures in September 2023 with a volume of 807,776 tons worth 17,220 million baht, with the volume increasing 26.5% and the value increasing 48.1% compared to August 2023 with a volume of 630,567 tons worth. 12,953 million baht because in September 2023, exports of parboiled rice and broken rice increased in volume from the previous month.
This is because importers are still accelerating imports of rice to compensate for the reduced domestic stocks and reserve for use during the festival at the end of this year amidst the tight supply of rice in the world market due to India's measures to limit rice exports that are expected. It will remain in effect until at least early 2024. causing buyers to turn to buying more Thai rice The export volume of parboiled rice was 236,120 tons, an increase of 190.5 compared to the previous month. They deliver to main markets such as South Africa, Benin, Yemen, etc.
Meanwhile, white rice exports totaled 349,709 tons, a decrease of 7.5% compared to the previous month. It is still sent to main markets such as Indonesia, Malaysia, Iraq, Angola, Japan, Zimbabwe, South Africa, Benin, Mozambique, etc. Exports of jasmine rice (rice plant) amounted to 107.678 tons, a decrease of 0.4%. Compared to the previous month By sending to main markets such as the United States, Canada, Hong Kong, Singapore, China, etc.
The association expects that in October 2023, rice export volume will be at approximately 800,000 tons because many exporters have outstanding rice delivery contracts. In addition, important importers in the ASEAN group such as Indonesia, Malaysia, as well as regular markets in Africa, the Middle East, and America continue to accelerate rice imports, including white rice, parboiled rice, and fragrant rice, in order to alleviate the rice supply situation in the region. declining country and the rice shortage problem that affects the price of rice in the country to increase as well as the need to reserve for use during the festival at the end of the year. Meanwhile, the supply of rice in the world market is still in tight condition. In addition, the trade circle expects that the Indian government will continue measures to control rice exports until the general election that will take place in 2024, causing buyers to turn to the name of rice from the source.
In this regard, the price of Thai rice during this period has been tends to weaken in line with market conditions as more new season rice supplies begin to enter the market, together with the value of the baht remaining at a level favorable to exports, making Thai rice competitive, with 5% of Thailand's white rice as of now On October 25, 2023, it was at USD 586 per ton. while the price of Vietnam and Pakistan are at 643-647 and 563-567 USD per ton, respectively. The price of Thai parboiled rice is at 586 USD per plant. while Indian parboiled rice and Pakistan at 508-512 and 536-540 USD per tree instead.
In addition, according to information from the Customs Department Rice exports in the first 9 months of 2023 (January-September 2023) had a volume of 6,082,136 tons with a value of 117,589.6 million baht (3443.2 million USD), with the volume increasing 12.3% and the value increasing 23.3% compared to the same period. In 2022, the export volume was 5,418,237 tons, valued at 95,358.5 million baht (2,799.9 million USD). Therefore, the remaining time of this year It is expected that the Thai rice export figure will definitely exceed 8 million tons.
Source: Thai News Agency