Thailand’s rice exports marked a 16.9% decrease in volume in August, with domestic prices falling by 200 Thai Baht (THB) which is 6.2 USD per tonne. Rice exports in Thailand fell 30% year-on-year to US$3.94 billion in August, marking its 10th straight month of decline.
Rice Exports Decline Driven by Output Among Major Exporters And Importers Alike
Notably, Thai rice exports decline was driven by higher output among major exporters and importers alike, as favourable weather boosted harvests. Declines were seen in markets such as the U.S., South Africa, Senegal, Iraq and Mozambique. However, shipments to Cameroon, China, Malaysia, Hong Kong and Canada went up. However, despite the challenges and lower volumes of shipments for the straight 10th month, Thailand has managed to expand shipments of premium rice varieties, including jasmine rice, parboiled rice, sticky rice and brown rice, to markets such as China, the United States, South Africa, the Middle East and Europe.
Thailand’s rice exports value for the month of August was 3.94 billion USD, reflecting a 30% drop, marking the 10th consecutive month of falling rice exports. Domestic rice prices have also decreased. According to the Thai Rice Millers Association, the price of white rice on September 24 is now 6,500-6,700 THB per tonne, down 200 THB per tonne from that on September 17. However, the price of jasmine rice remains unchanged at 15,500-16,000 THB per tonne.