Jan-May rice export volume up 27%

Jan-May rice export volume up 27%

Workers unload sacks of rice imported from Thailand from a cargo ship at Malahayati Port in Krueng Raya, Indonesia's Aceh province, on Thursday. (Photo: AFP)
Workers unload sacks of rice imported from Thailand from a cargo ship at Malahayati Port in Krueng Raya, Indonesia's Aceh province, on Thursday. (Photo: AFP)

Thailand's rice exports for January-May were at 3.47 million metric tonnes, up 26.6% from a year earlier, helped by higher global demand and a weaker baht currency, the Commerce Ministry said on Friday.

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

The ministry earlier put January-May rice exports at 3.4 million metric tonnes but later adjusted the amount to 3.47 million.

Rice exports are expected to exceed 8 million metric tonnes for the whole of 2023, beating the ministry's target, Ronnarong Phoolpipat, head of the ministry's Foreign Trade Department, told a news conference.

Thailand has also seen high rice output this year as Vietnamese exports will be limited after large shipments earlier in the year, Mr Ronnarong said.

The baht, which has weakened by 1.8% against the United States dollar so far this year, should continue to support Thai rice shipments, he added.

Last week, outgoing Commerce Minister Jurin Laksanawisit said the expected rice exports this year would help Thailand become the world's second-largest rice exporter after India.

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

Mr Jurin said that Thai rice exports are likely to surpass 8 million tonnes this year, driven by higher global demand as countries rush to stock up to brace for the effects of the El Niño weather phenomenon.

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