During the global food crisis, Thailand is becoming the world’s second-largest rice exporter
Thailand exported more than 3.5 million tons of rice, generating THB 60.93 billion (about USD 1.7 billion) in revenue, up 42.9% yearly.
Chalermchai Sree-on, the Minister of Agriculture, said that this was good news for Thai farmers and that the increase in exports would help boost the price of rice in the country.
He noted that Thailand could overtake Vietnam as the world’s second-largest rice exporter if it ships more than 7 million tons of rice this year.
According to statistics from the Thai Rice Exporters Association and the Department of Customs (TREA), Thailand exported 764,131 tons of rice worth THB 13.12 billion in June alone, up 69.4 percent and 57.1 percent, respectively, from 450,973 tons worth THB 8.35 billion in May.
Minister Chalermchai Sree-on expects rice exports from Australia, Myanmar, Cambodia, Europe, Paraguay, Uruguay and Thailand to increase, and rice shipments from Colombia, Ecuador, India, Iraq, Madagascar, the Philippines, Sri Lanka, the United States and Vietnam to decrease.
He also said that many factors could affect Thai rice exports in the year’s second half, such as the value of the baht, the productivity of significant rice exporters, and the impact of the Russian-Ukrainian war on production costs, and the economic implications of COVID-19.
Vietnam exported 2.77 million tons of rice worth USD 1.35 billion in the first five months of this year, up 6.95% and 4.26% year-on-year, respectively.
TREA expects Thailand to ship at least 8 million tons of rice overseas in 2022, well above the 7 million ton plan. The volume will generate a turnover of THB130 billion, up from THB110 billion last year.