The honorary chairman of the association stated that according to export license data, Thailand exported over 5.9 million tons of rice in the first nine months of this year. To meet the annual export target, the average monthly export volume must exceed 500,000 tons in the last quarter.
However, the global rice market situation this year is much worse than last year, with increasingly fierce competition amid ample supply and declining demand.
Major rice importing countries in the region, such as Indonesia and the Philippines, have suspended rice imports. This is because these countries have sufficient domestic rice supply and it is necessary to stabilize their domestic rice markets.
He stated that the Philippines plans to import 300,000 tons of rice in January 2026, and then suspend rice imports from February to April.
These factors have led to a drop in global rice prices. Thai 5% broken white rice is selling for $340 per ton, while Myanmar's rice is priced at $310, Pakistan's at $330, India's at approximately $350, and Vietnam's at $360.
In the first nine months of this year, Vietnam exported 6.8 million tons of rice, while India exported 18 million tons.
Thailand is the world's third-largest rice exporter. India's rice exports this year are expected to reach 22-23 million tons, and Vietnam's exports are estimated to be around 8.5 million tons.
Thailand's rice prices are expected to stabilize at around $340 per ton this year, while the average price in 2024 is still expected to be $500 per ton. Thailand's export volume is expected to decrease from last year's 9.9 million tons, and the export value will also decrease by about 40% year-on-year.