Thailand: Shippers project rice exports of up to 8.8 million tonnes

Thai rice exports are forecast at 8.7-8.8 million tonnes this year, driven by high demand from Indonesia. Chookiat Ophaswongse, honorary president of the Thai Rice Exporters Association, said the total surpasses the previous estimate of 8.5 million tonnes and is up from 7.69 million tonnes tallied last year. Export values are estimated at 180 billion baht this year, a 23-24% gain from a year before, driven by higher rice prices and increased export volumes in November and December, he said. Thailand is projected to export nearly 1 million tonnes of rice in November and December as major importers stock up to compensate for reduced domestic rice production and for the year-end period, continuing through to the beginning of 2024, said Mr Chookiat. Good weather conditions have allowed for swift delivery, preventing delays, he said. Key buyers include Indonesia, which already purchased 1.3 million tonnes of Thai rice, and the Philippines, which bought about 500,000 tonnes. Referring ...