Thailand is likely to complete its target of exporting 8 million tonnes of rice set for this year, maintaining its reputation as a major rice exporter.
Director-General of the Department of Foreign Trade under Thailand’s Ministry of Commerce Ronnarong Phoolpipat said that the upswing in rice exports aligns with the rising concerns over drought triggered by the El Niño weather phenomenon, India’s embargo on non-basmati white rice exports, China’s falling rice production, and the increasing eagerness of several countries to import rice to safeguard food security.
Numerous countries have shown interest in purchasing Thai rice, especially the Philippines, Malaysia, Indonesia, and Japan, he said.
India’s non-basmati white rice export ban will not affect Thailand’s exports, the official affirmed.
India’s ban from July 20 affected the global rice market, raising prices. Yet, no supply shortage is anticipated as India allows exports to specific countries for food security.
Thailand on August 31 announced that as of August 29, the Southeast Asian country had shipped 5.29 million tonnes of rice abroad, a year-on-year rise of 11.9%.
Thailand’s Ministry of Commerce reported that the country earned 2.56 billion USD from rice export in the first seven months of this year, an increase of 20.73%.
Ronnarong said that the ministry has decided to keep its forecast of 8 million tonnes of exported rice unchanged for this year./.
Source: Vietnam News Agency