Thai rice exports set to rise amid El Niño concerns

[webfact]

 

Thai rice exports have a favourable horizon in 2023, as they are projected to exceed 8 million tonnes. This boost in international demand is linked to global concerns about the possible consequences of the El Niño weather event, resulting in several countries aiming to expand their stockpiles, according to Commerce Minister Jurin Laksanawisit.

 

The minister indicated that the Philippines plans to raise its rice acquisition by 2-3 million tonnes, while Indonesia is speeding up the process to secure considerable amounts of rice from Thailand and Vietnam. Iraq’s imports are estimated to be around 1 million tonnes for the year, matching the same volume as 2022.

 

Jurin noted that Vietnam, in preparation for domestic needs, is lessening its rice exports while shifting its emphasis to growing fruit and coffee. Moreover, he highlighted that the weaker Thai baht is making rice shipments from the country more competitive in the international market.

Just last year, Thai rice shipments reached 7.69 million tonnes, exceeding the ministry’s target of 7.5 million tonnes. The goal for 2023 is set between 7.5-8 million tonnes of rice exports.

 

by Alex Morgan

Image by Thirawatana Phaisalratana, via Flickr

 

Full story: https://thethaiger.com/news/business/thai-rice-exports-set-to-rise-amid-el-nino-concerns

 

-- © Copyright Thaiger 2023-06-17

 

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[hotchilli]

2 hours ago, webfact said:

Moreover, he highlighted that the weaker Thai baht is making rice shipments from the country more competitive in the international market.

Well I never.

[dinsdale]

4 hours ago, webfact said:

Thai rice exports have a favourable horizon in 2023

Let me just edit this a bit. "Thai rice exporters have a favourable horizon in 2023." Let's see how much baht per tonne goes up for the farmers. 

[StayinThailand2much]

2 hours ago, dinsdale said:

Let me just edit this a bit. "Thai rice exporters have a favourable horizon in 2023." Let's see how much baht per tonne goes up for the farmers. 

They would probably be better off learning from the Vietnamese, growing more fruit instead...

[zzaa09]

2 hours ago, dinsdale said:

Let me just edit this a bit. "Thai rice exporters have a favourable horizon in 2023." Let's see how much baht per tonne goes up for the farmers. 

There is a bit of hopeful light shining through, as the growing practice of community farming [especially rice] collectives is becoming the trend of the last generation, allowing the open/free/competitive markets to suss themselves out - without the over lording [and dependent upon] command of the repressive government, agricultural mafias and their financial institutions. 

 

It's a slow movement but it's getting there. 

Perhaps a full blown agricultural revolution within a decade. [??]

 

Rice has always been used as a political tool here in Thailand.

About time that we reverse the fortunes and create a tool for our advantage - the hard working farmers.

[MrJ2U]

The government has asked farmers to grow only one rice crop this year because of El Nino.  Less rice means higher prices and Thai rice is already being undersold by Vietnam, India, and Cambodia.