Thai Rice Exports To 60.9 Billion Baht in First Half Of 2022, Up 40%

The Thai Rice Exporters' Association announced rice exports for the first half of 2022 (January to June), with the total export volume reaching 3.507 million tons and export value of 60.932 billion baht. Compared with the same period last year, the export volume rose 56.6% and the export value grew 42.9%. The export volume for the same period last year was 2.239 million tons and the export value was 42.641 billion baht.

The export volume in June 2022 was 764,000 tons and the export value was 13.12 billion baht, up 69.4% and 57.1% respectively compared to the same period last year, when the export volume was 450,000 tons and the export value was 8.357 billion baht. As the price of Thai rice fell with the devaluation of the Thai baht, coupled with the fact that exporters still had many undelivered contracts, they accelerated the delivery of rice, resulting in the export of 405,900 tons of white rice in June, up 208% from a year earlier. Most of the exports went to Iraq, Philippines, Japan, Angola, etc. And the export volume of steamed rice was 140,000 tons, up 10.8% YoY, mostly exported to major markets in Africa and the Middle East, such as South Africa, Benin, Lebanon, etc. As for jasmine rice, the export volume was 103,800 tons, up 15.2% YoY, and the export markets were mainly the United States, Hong Kong, China, the United Kingdom, Canada, etc.

It is expected that the export volume will reach 600,000- 700,000 tons in July 2022. Due to the devaluation of the Thai baht, the price of Thai rice has fallen to a level that is competitive with competitors.