Thailand's milled rice to reach 20 million tonnes

Published 2024년 9월 4일

Tridge summary

Thailand's milled rice production is expected to rise to 20 million tonnes in 2024-25 from 19.7 million tonnes in 2023-24, driven by high farm-gate prices and improved yields, according to the US Department of Agriculture's Foreign Agricultural Service. However, rice exports are projected to fall to 7.5 million tonnes in 2024-25 from 8.2 million tonnes in 2023-24 and 8.7 million tonnes in 2022-23 due to the volatility of the Thai baht and increased global competition from Vietnam, Cambodia, and India. Despite strong export growth in the first half of 2023-24, competition is expected to intensify in the second half. The forecast for 2024-25 corn production remains steady at 5.4 million tonnes, a 2% increase from 2023-24, due to favorable weather and reduced drought damage.

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Original content

Thailand’s milled rice production is projected to reach 20 million tonnes in marketing year 2024-25, up slightly from 19.7 million tonnes in 2023-24 in response to recent high farm-gate prices encouraging acreage expansion coupled with improved yields, while exports dip, according to a report from the Foreign Agricultural Service (FAS) of the US Department of Agriculture. Thailand’s rice exports in 2023-24 and 2024-25 are projected to decline compared to 2022-23 levels amid the volatility of the Thai baht and stronger global competition, which likely will impact the price competitiveness of Thailand’s rice exports, the FAS said. Exports for 2023-24 are seen at 7.5 million tonnes in 2024-25, down from 8.2 million the previous year and 8.7 million in 2022-23. Despite a strong export growth of Thai rice in the first half of 2023-24, exporters anticipate that rice exports in the second half of the year will face strong competition, especially from Vietnam and Cambodia. India also is ...

Source: UkrAgroConsult