Thailand expects to export 8.2 million tonnes of rice this year, up from a previous forecast of 7.5 million, helped by demand from major markets and a weakening THB, according to the country’s Commerce Ministry.
Agricultural labourers working in a rice field in Suphan Buri province, Thailand (Photo: bangkokpost.com)
Bangkok (VNA)🙈 - Thailand expects to export 8.2 million tonnes of rice this year, up from a previous forecast of 7.5 million, helped by demand from major markets and a weakening THB, according to the country’s Commerce Ministry.
The ministry revealed that rice importers want to import rice for consumption and to keep it as stock for food security. The Philippines and Indonesia will also import rice to alleviate the impact of inflation and drought.
Ronnarong Phoolpipat, director-general of the Foreign Trade Department, acknowledged that rice production in the final quarter of the year is expected to pick up as the effects of the El Nino weather phenomenon have subsided.
The country’s rice shipment recorded a 13.7% rise from a year earlier to 8.76 million tonnes in 2023, beating a target of 8 million tonnes./.
Thailand's rice exports in the first five months of 2024 increased 16.5% year on year to nearly 4.06 million tonnes worth 94.6 billion THB (2.6 billion USD), but exports in the third quarter are expected to drop as compared to the first half of 2024, said President of the Thai Rice Exporters Association (TREA) Charoen Laothamatas.
Thailand’s cabinet has approved a budget of 29.9 billion THB (810 million USD) to assist farmers with fertiliser costs, expected to increase rice production by 10% in this harvest season, reported local media.
The Department of Medical Sciences (DMS) under the Thai Ministry of Health has announced that rice samples taken from the Ministry of Commerce are safe for consumption as they are free from aflatoxin, germs, and chemical contamination.
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