Thailand’s rice exports surged 11.9% year-on-year to 5.29 million tons as of August 29 this year, according to recently released data.
Data from the Ministry of Commerce showed the kingdom exported rice valued at US$2.56 billion in the first seven months of 2023, an increase of 20.73% from a year earlier.
Ronarong Poolphiphat, Director-General of the ministry’s Foreign Trade Department, said the increase in Thai rice shipments was attributed to concerns over droughts as a result of the El Nino weather phenomenon. India’s rice export ban was also cited as a factor, as it prompted rice-importing countries to buy more to maintain food security.
Ronarong told a news conference that a stable Thai baht against the U.S. dollar and competitive export prices with those of other exporters, such as Vietnam and Pakistan, also supported the rice export growth.