Thai rice exports surged 46% for the first nine months of 2024, boosted by white rice, jasmine rice demand

THAILAND – Thailand has experienced a robust increase in rice exports during the first nine months of 2024 (January-September), with a 22% rise in volume and a 45.8% jump in value compared to the same period last year.

Pol. Lt. Col. Charoen Laothamatas, President of the Rice Exporters Association of Thailand, revealed that Thailand is now ranked second on the global rice export landscape after India, followed by Vietnam, Pakistan, and the United States.

According to Laothamatas, the country exported 7.45 million tons of rice from January to September, valued at 172.019 billion baht (US$5.1B).

The export growth was led by white rice, Thailand’s top-performing category, which saw a 42% increase in shipments, totalling 4.7 million tons.

Jasmine rice exports followed, reaching 1.23 million tons, up 9%. Thai fragrant rice also saw a significant surge, with exports up 42.5% at 487,587 tons, while glutinous rice rose 15.7%, totaling 211,000 tons. However, exports of parboiled rice dropped by 28.2% to 814,791 tons.

Among Thailand’s top rice importers, Indonesia ranked first, importing 1.09 million tons, up 20.7% from the previous year.

Iraq followed with 907,715 tons, marking a 25.1% increase, while the United States imported 609,430 tons, up 19.5%. South Africa imported 580,288 tons, down 20.6%, and the Philippines saw the highest percentage increase, with imports rising 246.7% to 399,493 tons.

In September 2024 alone, Thailand exported 878,711 tons of rice valued at 19.463 billion baht (US579.5M), a slight decline of 0.8% in volume and 3.5% in value from August.

This decrease was attributed to lower exports of parboiled and broken rice, while white rice and jasmine rice exports remained steady.

Looking ahead, the Rice Exporters Association expects Thai rice exports to exceed 700,000 tons in October, spurred by demand from African countries preparing for year-end holidays and pending contracts.

However, competition in the rice export market is expected to intensify as India lifts its export restrictions, potentially enabling Indian suppliers to expand exports of white and parboiled rice.

As a result, Thai Rice Exporters Association remains cautiously optimistic, acknowledging the competitive challenges ahead but banking on the sustained global demand for high-quality Thai rice as it navigates the final quarter of 2024.

Thailand’s rice prices faced downward pressure at the end of October amid increased global competition.

Thai 5% white rice was priced at US$507 per ton, making it slightly cheaper than Vietnam’s at US$524–528, but higher than India’s at US$444–448 and Pakistan’s at US$461–465.

Thai parboiled rice was priced at US$522 per ton, compared to India’s US$439–443 and Pakistan’s US$ 493–497.

Sign up to receive our email newsletters with the latest news updates and insights from Africa and the WorldHERE.

Newer Post

Thumbnail for Thai rice exports surged 46% for the first nine months of 2024, boosted by white rice, jasmine rice demand

Latvian Competition Council approves acquisition of Elagro Trade by Linas Agro

Older Post

Thumbnail for Thai rice exports surged 46% for the first nine months of 2024, boosted by white rice, jasmine rice demand

Argentina’s soybean production to surge 5% in 2024-25 despite challenges