Thailand is all set to beat Vietnam in the global rice market and earn the second spot below numero uno India. 3.50 million ton is the exports from Thailand in the first six months of this year, which is 56.6% higher than first six months of last year. By value also export growth is good 42.9%. Thai agriculture and cooperatives minister Chalermchai Sree-on shared his optimistic target of upstaging Vietnam in global rice market. He said that if Thai rice exports cross seven million tons then Vietnam will be upstaged by Thailand. Soaring rice exports will improve domestic prices in Chalermchai’s opinion. Customs dept. data and Thai rice export association data shows that huge 69.4% and 57.1% month-on-month rise in rice exports was seen in June 2022 by volume and value respectively. 13.12 billion bahat worth 764131 tonnes rice was exported in June compared to 8.35 billion bahat worth 450973 tonnes of rice exported in May.
Main contributor to the upsurge in rice exports is white rice. Exemplary 208% rise in export of white rice was observed month on month in June. Steamed and jasmine rice exports rose only by 10.8 and 15.2 percent respectively. Chalermchai is forecasting that global Rice Exports will go up by 100000 tonnes this year compared to 2021 and reach 46.4 million tonnes. He seems to be expecting that rice exports from India, US, Vietnam, Philippines, Sri Lanka, Columbia, Ecuador, Iraq, Madagaskar will fall and rice exports from Australia, Thailand, Uruguay, Paraguay, Myanmar and Cambodia will rise. Chalermchai is ready for challenges also and accepts that factors like bahat valuation, productivity of major rice exporting nations, impact of Russia-Ukraine war on production costs and economic fallout of Covid 19 will impact Thai rice exports in second half of this year.
Can B2B eCommerce Help Thailand Achieve Target Of Upstaging Vietnam?
Thailand is targeting to export 7 to 7.5 million tonnes of rice in 2022 and upstage Vietnam in global rice market. If Thailand is able to achieve this target then it will be trailed only India in global rice market. In 2021 Thailand was third largest rice exporter after India and Vietnam. It exported 5.7 MT rice in 2020 and 6.11 MT in 2021 and wants the rising trend to continue, to take it past 7 million tonnes in 2022 making it the second largest rice exporter in the world. If Thailand wants to achieve its target of 7 million tonnes rice export then it will have to achieve a reasonable growth of 14.6% over 2021 export. B2B ecommerce can play an important part in installing Thailand at second position in global rice exporter countries list but Thai rice exporters need to choose B2B platform judiciously. Only a B2B platform with database not only huge but also wide ranging can qualify as a good platform. USP of database of a B2B ecommerce platform is not hugeness but range. A database that is inflicted with ailment of database crowding and has buyers from specific regions crowding it is bound to fail. A B2B ecommerce platform that has avoided database crowding and has tens of thousands of registered buyers from over 100 countries, tradologie.com, can be a great choice.