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Thai Rice exports rose sharply in January

According to DFT, approximately 805,518 tonnes of rice worth 14.27 billion baht were exported in January as opposed to 459,773 tonnes for 7.95 billion baht during the same period previous year.

According to DFT director-general Ronnarong Phoolpipat, “a weaker baht has helped Thai rice compete strongly in the foreign market.”

He expressed gratitude to Indonesia, Bangladesh, Iraq, and the Middle East for importing more Thai rice and said it will be important to observe how the exchange rate affects exports in February.

He continued by stating that Thailand exported 2.3 million tonnes of rice in 2022, an increase of 26% over the 630,000 tonnes exported the year prior.

The goal is to export 7.5 million tonnes of rice this year, he added, adding that “we expect Thailand’s rice export will expand more this year.”

He added that exporters were aiming to ship out organic Thai rice as well, saying that Thailand was prepared to enter the markets of Japan and South Korea.

Thailand’s rice exports benefit from the weakening of the baht.

The cost of rice in the area is as follows per tonne:

• White rice: US$490 in Pakistan, $470 in Thailand, $465 in Vietnam, and $435 in India.

• Jasmine rice: $1,250 in India, $825 in Thailand, and $560 in Vietnam

Pak $515, Thailand $475, and India $385 for steamed rice.

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