Thailand projects rice exports of up to 8.8 million tonnes (Photo: bangkokpost.com)
Bangkok (VNA) - Thai rice exports are forecast at 8.7-8.8 milliontonnes in 2023, driven by high demand from Indonesia.
ChookiatOphaswongse, Honorary President of the Thai Rice Exporters Association, saidthe total surpasses the previous estimate of 8.5 million tonnes and is up from the 7.69 million tonnes tallied last year. Export values are estimatedat 180 billion THB (5.22 billion USD) this year, a 23-24% gain from a yearbefore, driven by higher rice prices and increased export volumes in Novemberand December.
Chookiatacknowledged that Thailand is projected to export nearly 1 million tonnes ofrice in November and December as major importers stock up to compensate forreduced domestic rice production and for the year-end period, continuing throughto the beginning of 2024. Good weather conditions have allowed for swiftdelivery, preventing delays.
Keybuyers include Indonesia, which already purchased 1.3 million tonnes of Thairice, and the Philippines, which bought about 500,000 tonnes.
Referringto Prime Minister Srettha Thavisin's recent remark on the sidelines of theJapan-ASEAN summit that Indonesia is committed to buying a total of 2 milliontonnes this year, Chookiat said the additional one million tonnes could beaccommodated through a memorandum of understanding or government-to-governmentbasis to prepare for potential drought conditions next year.
According to Chookiat, Indonesia isprojected to import 1-1.5 million tonnes of rice next year. For the first 10months this year, Thai rice exports tallied 6.92 million tonnes, valued at 136billion THB, according to customs data./.
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Thailand projects rice exports of up to 8.8 million tonnes (Photo: bangkokpost.com)
