Thai rice exports in September still expand at a declining rate

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BANGKOK, 30 October 2013 The Thai Rice Exporters Association has reported that the nation’s rice exports last month expanded 27.2% compared to the same period last year, but the figure was 4 % lower than that of August 2013. 

According to the association, September’s rice exports stood at about 501,600 tons, while the figure in the first 9 months of 2013 indicated a 1.8% decline, with only 4.6 million tons of rice exported.

The association said the decline was due to a drop in exports of Jasmine rice and steamed rice. However, the association reported that prices of Thai rice have recently become more competitive, falling to the lowest level in 3 years which would be favorable to October’s rice exports. Exports of 5% white rice are currently priced at 432 US dollars per ton.

It is expected that Thailand will be selling around 600,000 tons of rice in October due to the fact that Thai rice now shares the same price range as those offered by rival exporters.