Record-high rice shipments on lower prices
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July's rice shipments surged to almost one million tonnes - its highest amount in almost three years - thanks to lower rice prices, a weakening baht, and a high amount of exports to Africa.
The Thai Rice Exporters Association revealed that rice exports in July reached 941,691 tonnes, the highest figure since the 1.01 million tonnes in August 2011. The association’s president, Chareon Laothamatas, said exports this year should reach up to 10 million tonnes.
Chareon said if the baht did not fluctuate, shipments should grow continuously in the remaining months following high demand in Africa and the Thai government releasing rice from stockpiles.
Of the 941,691 tonnes exported in July, 448,652 was white rice that was shipped mainly to the Ivory Coast, China, and Guinea while 133,010 tonnes was jasmine and 345, 713 tonnes was parboiled.
In the first seven months of the year, exports were up 55.5 per cent year on year to 5.62 million tonnes, while the value increased 20.6 per cent to Bt90.85 billion.
Benin received the most rice with 689,329 tonnes followed by China (338,170 tonnes), The Ivory Coast (325,558 tonnes), Nigeria (321,955 tonnes), and Cameroon (281,905 tonnes).
It is thought exports in August could be around 900,000 tonnes because the price is now close to the prices of Thailand’s competitors, while the government has a clear policy that involves gradually selling rice from stockpiles.
Thailand is also negotiating with other countries to sell them more rice, including China, Indonesia, and Malaysia and is getting more orders from other countries and regions,
