Weakening baht helps bolster Thailand’s rice exports

Published 2023년 2월 27일

Tridge summary

Thai rice exports saw a significant increase in January, with a volume of 805,518 tonnes valued at 14.27 billion baht, a notable rise from the same period last year which recorded 459,773 tonnes worth 7.95 billion baht. The DFT credits the weaker baht for this success, which has enhanced Thai rice's competitiveness internationally. The countries that imported the most Thai rice include Indonesia, Bangladesh, Iraq, and the Middle East. Thailand's rice exports in 2022 surged to 2.3 million tonnes, a 26% increase from the previous year, and the country aims to export 7.5 million tonnes in 2023. There are plans to penetrate the Japanese and South Korean markets with organic Thai rice, and the price of rice in the region varies by type and country.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Some 805,518 tonnes of rice worth 14.27 billion baht was shipped out in January compared to 459,773 tonnes worth 7.95 billion baht in the same month last year, DFT said. “A weaker baht has helped Thai rice compete strongly in the international market,” DFT director-general Ronnarong Phoolpipat said. Thanking Indonesia, Bangladesh, Iraq and the Middle East for importing more Thai rice, he said the impact of the currency exchange rate on exports in February will have to be monitored. He went on to say that Thailand’s rice export in 2022 came in at 2.3 million tonnes, up 26% compared to 630,000 tonnes in the previous year. "We believe Thailand's rice export will expand further this year," he said, adding that the aim is to export 7.5 million tonnes of rice this year. He said Thailand was ready to penetrate the markets of Japan and South Korea, adding that ...

Source: Nationthailand