Export of Thai rice surges due to weaker baht, bigger harvests
The export of rice returned to positive numbers for three consecutive months since June this year thanks to higher production volume and weak baht. The 6-million-tonne export target should be achieved in 2021, the Department of Foreign Trade (DFT) said on Thursday.
Keerati Rushchano, DFT director-general, said the export of rice in June and July had risen by 7.35 per cent compared to the same period last year. He said based on the rice export licence applications DFT received, 831,260 tonnes of rice were exported in August and 631,363 tonnes in September. Compared to the same period last year, growth was recorded at 133.13 per cent in August and 61.78 per cent in September. Hence, he said, it is reasonable to expect the 6-million-tonne target to be achieved by the end of this year.
DFT also said exports to South Africa, China, Yemen and Iraq have risen and the orders were mostly for parboiled rice, white rice and brown rice. The main factor contributing to this increase is depreciation of the Thai currency, which has brought the price of rice, especially white and parboiled rice, to a level closer to that of Vietnam and India.
“DFT will hold meetings with other key trading partners such as Indonesia, Bangladesh, China, etc. It is also accelerating the promotion of Thai rice under the concept ‘Think Rice Think Thailand’ through various online channels to build consumer confidence. Commercial ambassadors will also promote Thai rice under this concept worldwide,” Keerati said.