Thailand’s January to May Rice Export Volume Increased by 27% According to the Commerce Ministry

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ByHui Yin

Thailand’s Commerce Ministry reported that the country’s rice exports for January to May were at 3.47 million metric tonnes, a 26.6% increase from a year earlier. This was helped by the higher global demand as well as a weaker baht currency.

In May alone, the rice shipments jumped by 88% from a year earlier to about 850,000 metric tonnes.

Earlier, the ministry put January-May exports at 3.4 million metric tonnes. However, the amount was later adjusted to 3.47 million.

Ronnarong Phoolpipat, head of the ministry’s Foreign Trade Department, stated in a news conference that rice exports are expected to exceed 8 million metric tonnes for the whole of 2023, beating the ministry’s target.

Mr. Ronnarong also said that Thailand has seen high rice output this year as Vietnamese exports will be limited after large shipments earlier in the year. He further added, the baht, which has been weakened by 1.8% against the United States dollar so far, should continue to support Thai rice shipments.

In 2022, Thailand exported 7.69 million metric tonnes of rice, up 22.1% from a year earlier. The amount beat a target of 7.5 million metric tonnes, with the top markets being Iraq, South Africa, China, and the United States.

A week prior, outgoing Commerce Minister Jurin Laksanawisit stated that the expected rice exports in 2023 would help Thailand become the world’s second-largest rice exporter next to India. He also estimated that due to higher global demand as countries rush to stock up and prepare for the effects of El Niño weather, Thai rice exports are likely to surpass 8 million tonnes this year.

Hui Yin moved from Hong Kong 🇭🇰 to the USA 🇺🇸 when she was just 8 years old. Now in her late 20's she enjoys writing and taking long walks in the park to burn off the copious amounts of rice she eats for dinner.