rice exports
- Business News
Thailand to boost rice exports to Hong Kong and China
An upward trend in rice exports from Thailand to Hong Kong and China is anticipated this year, with a particular demand for riceberry and brown rice. This expectation is driven by the global economic recovery and a discerning preference for high-quality rice grains. Thailand is also aspiring to establish a distribution centre in Shenzhen to bolster its market presence. The…
- Business News
Vietnam’s rice exports projected to decline amid quality shift
A downward shift is projected for Vietnam’s rice exports in the current year, with estimates ranging between 6.5 and 7.0 million metric tonnes. This is a noticeable drop from the previous year’s record high of 8.1 million tonnes, as reported by the Vietnam Food Association. Vietnam, ranking third globally in rice exports after Thailand and India, indicated a strategic shift…
- Thailand News
Thailand apologises to India for comments on rice export policy
A formal apology to India has been issued by Thailand, following inappropriate comments made by Thailand’s World Trade Organisation (WTO) ambassador regarding India’s rice export policy. The comments were made during the 13th Ministerial Conference of the WTO in the United Arab Emirates. Phumtham Wechayachai, the Commerce Minister of Thailand, confirmed the apology. The Indian government received a written apology…
- Thailand News
Vietnam’s rice exports soar towards 178 billion baht milestone
Vietnam’s rice sector is projected for a remarkable milestone of US$5 billion (approximately 178 billion baht) in turnover. Anticipating a rollercoaster ride in the global rice market, experts emphasise the pivotal role of innovation and adaptable export strategies in propelling Vietnam towards its ambitious growth targets. The Ministry of Agriculture and Rural Development underscores the industry’s resilience despite a shrinking…
- Business News
Thai rice exporters stir in choppy waters as challenges loom ahead
Rice exporters in Thailand are bracing for a challenging year ahead due to a host of risk factors, including fluctuating exchange rates, waning competitiveness of Thai rice, fierce price competition, the potential impact of the El Niño weather phenomenon, and India’s restrictive export policies, as reported by the Thai Rice Exporters Association. The association’s honorary president, Chookiat Ophaswongse, referred to…
- Business News
Thailand’s rice exports expected to drop 14.4% amid global competition
A projected drop of 14.4% in Thailand’s rice exports is anticipated for this year, due to a combination of reduced production and increased global competition, as reported by the Foreign Trade Department. The department’s director-general, Ronnarong Phoolpipat, revealed that the estimate of 7.5 million tonnes of rice exports this year was jointly made with the Thai Rice Exporters Association. This…
- Business News
Thai commerce minister targets US for premium rice exports boost
Thai Commerce Minister Phumtham Wechayachai, during his visit to the US, affirmed his determination to boost exports of premium rice and other food products from Thailand. His ambition is to amplify exports of rice and food items from the Land of Smiles by 1.75 billion baht. The US, Thailand’s second largest trading partner and the principal importer of Thai hom…
- Business News
Thai ministry propels rice trade growth with G2G agreements
The Ministry of Commerce in Thailand is set to discuss the potential sale of a massive 1 million tonnes of rice to Indonesia tomorrow, under a government-to-government (G2G) agreement. This comes with a commitment to further engage in similar discussions about rice sales with China. Commerce Minister Phumtham Wechayachai revealed that the head of the Foreign Trade Department has been…
- Business News
Rice production crisis forecast: Dry woes, dwindling waters, and El Nino brew trouble
Asian rice production during the off-season is predicted to suffer due to a blend of unfavourable weather conditions including dry planting, dwindling reservoirs and ongoing El Nino weather patterns. These issues are due to reduce the early 2024 yields, further squeezing supplies and potentially causing a rise in food inflation. Both India, the world’s largest rice exporter and Thailand, the…
- Business News
Thai rice exports prediction rises amid high global prices
Thailand is now aiming to export 8.5 million metric tonnes of rice this year, an increase from their initial projection, as reported by Chookiat Ophaswongse, the honorary president of the Thai Rice Exporters Association. The decision comes as rice prices escalate in competing nations such as Vietnam. Chookiat informed that due to the high cost of Vietnamese rice, countries including…
- Business News
El Niño effect forecasted to lower Thai rice production in 2023-24
The Agricultural Economics Office of the Agriculture and Cooperatives Ministry in Thailand forecasted a decline in rice production for the 2023-24 harvest season. The expected drop is approximately 871,000 tonnes, a decrease of 3.27%, totalling 25.8 million tonnes. This significant decrease is primarily due to the effects of the El Niño weather phenomenon. Deputy Secretary-General of the Agricultural Economics Department,…
- Business News
India’s rice export halt stirs concerns of 10% surge in Thai rice prices
Potential tremors in the global rice markets may soon be felt in Thailand as India calls a halt on non-basmati white rice exports, according to high-ranking industry insiders. The abrupt decision, communicated by Indian authorities this week, immediately ignited concerns among Thai rice traders and industry power players, with predictions of an imminent 10% surge in local rice prices. The…
- Business News
Global Thai rice export forecast to surpass 8 million tonnes
The appeal for Thai rice continues to be significant globally, with both Indonesia and Bangladesh expressing their aspirations to buy the grain through G2G or government-to-government contracts. Ronnarong Phoolpipat, head of the Foreign Trade Department, stated that the immense global demand for Thai rice is likely to boost exports to surpass 8 million tonnes this year. The department has plans…
- Business News
Rice export surge: Thailand fast-tracks new varieties to boost global market share
Thailand is making significant strides in boosting its export competitiveness by fast-tracking the development of new rice varieties to meet global market demand, with plans to introduce 30 new varieties in the coming year. Following the “new rice variety contest for Commerce” event, Commerce Minister Jurin Laksanawisit discussed Thailand’s efforts to combat the lack of diversity in its product offerings…
- Business News
Thai rice exports set to rise amid El Niño concerns
Thai rice exports have a favourable horizon in 2023, as they are projected to exceed 8 million tonnes. This boost in international demand is linked to global concerns about the possible consequences of the El Niño weather event, resulting in several countries aiming to expand their stockpiles, according to Commerce Minister Jurin Laksanawisit. The minister indicated that the Philippines plans…
- Economy News
Thai rice exports valued at 23% more than same period last year
From January to April, Thailand’s rice exports reached 2.79 million tonnes, with an estimated total for the year surpassing 8 million tonnes, according to the government. Prime Minister Prayut Chan-o-cha, expressed optimism regarding the exports being valued at US$1.5 billion (51.2 billion baht) revenue, a 23% increase compared to the same period last year, as reported by government spokesperson Anucha…
