Thai rice exports on upward trajectory amid higher demand

Thailand’s rice exports are expected to reach 600,000 to 650,000 tonnes in May on pending delivery contracts, following higher rice demand and the weakening baht, the Thai Rice Exporters Association (TREA) said on Tuesday.

However, in April alone, Thailand exported 548,636 tonnes of rice worth THB9.97 billion, down 15.3 per cent and 10.0 per cent month on month, he said.

He said the decline in April rice exports were due to rising domestic prices, which led to a hike in the export prices as a result rice importers delayed purchase and delivery

Charoen added that Thailand exported 199,939 tonnes of white rice and 94,572 tonnes of steamed rice in April, down 35 per cent and 18.9 per cent month on month, respectively, due to the aforementioned issues.

However, the export of jasmine rice was up 4.6 per cent compared to the previous month, to 149,594 tonnes, thanks to an increase in export to countries in the Middle East, he said.

As of June 1, the price of 5 per cent white rice in Thailand was US$465 per tonne compared to $423-$427 in Vietnam, $338-$342 in India and $373-$377 in Pakistan.

Meanwhile, Thailand’s price of steamed rice was $480 per tonne compared to $348-$352 in India and $392-$396 in Pakistan.