The devaluation of the baht caused Thai rice exports in the first quarter of this year to rise by 19.4%, from 2.06 million tonnes last year to 2.46 million.
During January-March, the export value is estimated to be 56.73 billion baht, or US$1.61 billion, a 49% surge from the previous year, as stated by Charoen Laothamatas, president of the Thai Rice Exporters Association.
However, rice exports in March decreased by 10.4% compared to February, with 716,619 tonnes valued at 17.33 billion baht, in contrast to 800,225 tonnes valued at 18.53 billion baht in February.
In February, exports of Hom Mali fragrant rice, broken rice, and parboiled rice were lower than in January, especially parboiled rice, which is anticipated to decline by 50% for the entire year, primarily due to reduced demand from buyers and the availability of cheaper parboiled rice from India.
The exports of Hom Mali rice in March saw a 4.5% decline from February, with 109,448 tonnes sent to main markets such as the US, Hong Kong, Singapore, Canada, China, the United Kingdom, and Australia.
Thailand anticipates exporting approximately 800,000 tonnes of all rice types in April, as exporters still have obligations to fulfill supply contracts to buyers in ASEAN, Japan, and some African countries such as Angola, Mozambique, and Ivory Coast, as well as Middle Eastern countries like Iraq.
The export price for Thailand’s 5% white rice is US$599/tonne, compared to US$579-US$583 for Vietnamese grain and US$578-US$582 for Pakistani rice.
Thai parboiled rice is priced at US$602/tonne, in contrast to India’s US$537-US$541 and Pakistan’s US$601-US$605/tonne.
India remained the world's top rice exporter during the first quarter, with 4.3 million tonnes, a 28.1% decrease from the same period last year. Thailand secured second place, with 2.46 million tonnes, marking a 19.4% increase, while Vietnam came in third, with 2.18 million tonnes, and Pakistan fourth with 1.98 million tonnes.
