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Trade Trends News
04-09-2023
Thailand's rice exports rose 11.9 percent year-on-year to 5.29 million tons from Jan. 1 to Aug. 29, the Commerce Ministry said Thursday.
The biggest export markets were Indonesia, Iraq, South Africa, the U.S. and China, Foreign Trade Minister Ronarong Poolphiphat said at a news conference.
Global rice prices have risen since India, the world's biggest exporter, banned exports in July, creating a 10-million-ton shortfall. Benchmark prices in Asia are at 15-year highs.
Thailand, the world's second-largest rice exporter, expects to export 8 million tons of rice this year, Agriculture Ministry data show.
Fifth-ranked Myanmar said last week it also plans to limit exports.
The Philippines is interested in striking a rice import deal with Thailand, Ronalon said, adding that the agreement would be clear by the end of next month.
"If the price is good, farmers will grow more," he said.
Mr. Ronalon also warned that drought conditions brought about by the El Niño weather pattern would affect next year's production.
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