But strengthening baht could make sales in 2023 more challenging

Thailand exported 7.69 million tonnes of rice in 2022, up 22.1% from a year earlier, the Ministry of Commerce said on Tuesday.

The exports exceeded a target of 7.5 million tonnes with top markets being Iraq, South Africa, China and the United States, it said in a statement.

Thai rice exports were strong last year because of the weak baht, Ronnarong Phoolpipat, head of the ministry’s Trade Policy and Strategy Office, told a news conference.

Thailand is the world’s third-largest rice exporter after India and Vietnam.

Earlier this month the Thai Rice Exporters Association lowered its target for 2023 from 8 million tonnes to 7.5 million as the baht, which is which is now trading around 32.50 to the US dollar, has appreciated…

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