The government has set its 2023 rice export target to 7.5 million tons in alignment with strong demands and the volatility of the Baht currency.
Foreign Trade Department Director-General Ronnarong Phoolpipat stated that the rice export target for this year was made following consultation with the Thai Rice Exporters Association. Although demand for Thai rice remains strong this year, the instability of the Thai currency could make Thai rice more expensive than its competitors. This prompts the ministry to set this year’s target at 7.5 million tons, which is lowered than the 7.69 million tons exported last year.
The director-general added that the Commerce Ministry will continue to promote Thai rice through events and forums, as well as make trade visits with major partners such as China, Vietnam, Australia, and Germany.
According to reports from the department, the 2023 target of 7.5 million tons represents a 22% increase from 6.3 million tons of Thai rice exported in 2021. The largest Thai rice importer last year was Iraq with 1.6 million tons, followed by South Africa (775,000), China (750,000), the United States (650,000), and Benin (321,000), respectively. (NNT)