July Thai rice exports hit three year high

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BANGKOK, Sept 1 — The Thai Rice Exporters Association reported that Thailand exported 5.62 million tons of rice in the first seven months of this year, with exports peaking at 941,000 tonnes in July, making a new three year high.

The association stated that the value of rice exported in the first seven months this year was Bt90.85 billion.

The export volume rose by 55.5 per cent and its value increased by 20.6 per cent compared to the same period of last year when exports stood at 3.61 million tons with an estimated value of Bt75.35 billion.

The first top five buyers of Thai rice were Benin buying 689,329 tons (rising by 55.7 per cent year-on-year), China 338,170 tons (227.1 per cent), Ivory Coast 325,558 tons (68.2 per cent) , Nigeria 321,955 tons (466.5 per cent)  and Cameroon 281,905 tons (190.2 per cent).

The volume of Thai rice exports increased continuously from June.

The 941,691 tonne export volume in July is the highest monthly amount since the 1,012,703 tons registered in August 2011.

In July the exports of white rice amounted to 448,652 tonnes, 10 per cent more compared with June.

The lion’s share of exported white rice was destined for Ivory Coast (58,009 tons), followed by 42,074 tons for Malaysia, and 36,959 tons for China.

The association predicted rice exports should reach about 900,000 tons in August as the price of Thai rice is close to that of competitors. Thailand has clear policies on releasing its rice stocks and is actively trying to sell rice to China, Indonesia and Malaysia, and other countries which continuously demand rice and are clearly informed of situations in Thailand.

Established markets in Africa and the Middle East are ordering more Thai rice, including white rice and parboiled rice.

In addition the Thai government is contracted to deliver more rice to China. Details of the delivery have been finalized and transport is expected in the near future.