Located in Asia, Thailand is the second largest rice exporter in the world. The Asian nation ranks behind India in the global rice trade and is one of the reliable rice suppliers in the global market.
Last year itself, Thailand exported 7.69 million tonnes of rice to different countries around the world and as per data, Thailand exported rice worth 25,404.15 million Baht (USD 753.9 million) in the first two months of 2023.
Facts And Figures
Mr. Anucha Burapachaisri, Deputy Secretary-General to Thailand’s Prime Minister and Acting Government Spokesperson, Thailand exported rice worth 25,404.15 million Baht or USD 753.9 million in the first couple of months of 2023.
With this, Thailand’s revenue from rice exports surged by 38.2 percent as compared to the same period last year. During the months of January and February 2022, Thailand’s earnings from rice exports stood at 18,376.8 million Baht.
Strong Global Demand For Different Varieties Of Thai Rice
The global economy continues to show strong demand for different varieties of Thai Rice post covid and events like the Russia-Ukraine war and adverse weather conditions are further bolstering the demand.
This significant rise in Thailand’s rice export earnings can be attributed to strong demand from major markets like the United States of America (USA), Indonesia, Iraq, Bangladesh and Senegal.
Further, Thai Rice Exporters Association (TREA), anticipate that with rising demand for white rice and parboiled rice in the months to come, rice exporters and suppliers of the nation will likely export 700,000 tonnes – 730,000 tonnes by the end of the year.
Government Efforts Have Aided In Generating Global Demand For Thai Rice
Strong demand for Thai rice has also been a result of continued government efforts. Mr. Anucha Burapachaisri, Deputy Secretary-General to the Thailand’s Prime Minister and Acting Government Spokesperson asserted that the Government had in the past took measures and made efforts to promote Thai rice at various international food fairs and expos and this has led to increased business for rice suppliers and rice exporters of the nation and the government will continue to do so in the future.
The Bottom Line
Located in Asia, Thailand is witnessing a strong demand for different varieties of Thai rice and cashing on the opportunity, rice exporters and rice suppliers of the nation exported rice worth 25,404.15 million Baht or USD 753.9 million in the first two months of 2023. This is 38.2 per cent more than what the Asian nation exported in the months of January and February last year. Thailand Rice Exporters Association (TREA) believe that demand for specifically white and parboiled rice will go up in the months to come and this will present good business opportunity for rice suppliers and exporters of the country.
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