The Thai Rice Exporters Association reveals the total rice exports during the 7 months and July 2023. Recently, it has continued to grow. Even though India announced a ban on rice exports Causing all countries to turn to order more Thai rice and it is expected that Thai rice exports in August 2023 will reach 600,000-700,000 tons.
The Thai Rice Exporters Association has reported Rice exports in July 2023 had a volume of 604,310 tons, valued at 11,890 million baht, with the volume increasing 5.6% and the value increasing 6.1/ compared to June 2023, where the export volume was 572,115 tons, valued at 11,204 million baht, because in the month July 2023, exports of parboiled rice and fragrant rice group increased in volume from the previous month. Because importers are importing to compensate for the reduced stock. In addition, buyers are concerned about India’s rice export restriction policy, so they increasingly turn to Thai rice. As a result, parboiled rice was exported at 147,951 tons, an increase of 193.2% compared to the previous month. They are mainly delivered to main markets in Africa region such as South Africa, Benin, Yemen, Cameroon etc.
Meanwhile, white rice exports totaled 308,422 tons, a decrease of 15.8% compared to the previous month. It is sent to Indonesia, Malaysia, Japan, Cameroon, Philippines, Iraq, Algeria, etc. As for the export of jasmine rice (rice plants, the amount was 85,545 tons, an increase of 1.3% compared to the previous month. By sending to main markets such as the United States, Hong Kong, Canada, Singapore, China, France, Australia, etc.
However, the association expects that in August 2023, rice export volume will be at approximately 600,000-700,000 tons because important importers in the ASEAN, Middle East, and Africa groups continue to import rice, both white rice and parboiled rice. Because they are concerned about the supply of rice in the market that is expected to decrease due to the impact of the El Nino phenomenon, while the price of rice in the market World prices soar to highest level in 10 years after India suspends white rice exports and imposes an export tax on parboiled rice at a rate of 20%. In addition, Myanmar will have a temporary ban on rice exports for 45 days from the end of August 2023, causing buyers to rush to buy rice from other countries. By turning to Thailand more
Meanwhile, the price of Thai rice during this period tends to increase according to tight supply conditions and increased demand for rice in the world market, with 5% Thai white rice as of August 30, 2023 at 646 US dollars per ton Meanwhile, the price of 5% white rice in Vietnam and Pakistan is at 643-647 USD and 608-612 USD per tonne, respectively. The price of Thai parboiled rice is at 649 USD per tonne. Meanwhile, Pakistani parboiled rice is at US$603-607 per tonne respectively.
In addition, if you look at the information of the Customs Department Rice exports in the first 7 months of 2023 (January-July 2023) had a volume of 4,643,793 tons with a value of 87,416.6 million baht (2,568.3 million USD), with the volume increasing 13.5% and the value increasing 22.8% compared to the same period. In 2022, the export volume was 4,091,950 tons, valued at 71,193.6 million baht (2,129.7 million US dollars), etc.
Source: Thai News Agency