Rice rivalry: India’s export ban grains optimism for Thai prices

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The ongoing ban on white rice exports in India is bolstering the optimism of local shippers that Thai rice prices will remain relatively high during the first half of this year. Chookiat Ophaswongse, the honorary president of the Thai Rice Exporters Association, expressed that global market prices are likely to stay around US$600 per tonne, a rate not seen in over a decade, due to robust demand from numerous countries.

 

Chookiat also foresees a continuation of rice imports by Indonesia this year, although the quantity may be lower than last year, where nearly four million tonnes were imported from several nations, including Thailand, Vietnam, Pakistan, and Myanmar.

 

Last year, rice exports likely reached a total of 8.8-8.9 million tonnes, thus exceeding the earlier projection of 8.5 million tonnes. This was attributed to the increase in prices, which led to an estimated value of 180 billion baht (US$5 billion).

 

In November 2022, rice exports scaled up to one million tonnes, valued at 23 billion baht (US$658 million). This marked a 19.9% increase in volume and a 23.3% increase in value compared to October 2022.

 

by Alex Morgan

Photo courtesy of iStock

 

Full story: The Thaiger 2024-01-15

 

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[hotchilli]

I miss getting my supply of Indian Basmati long grain rice... 

[Muhendis]

21 minutes ago, hotchilli said:

I miss getting my supply of Indian Basmati long grain rice... 

Basmati is still exported so how come you are missing it?

The following from a news article last year:

India, the world's largest rice exporter, banned the exports of non-basmati white rice on Jul. 20. The government is seeking to tame surging domestic food prices and “ensure adequate domestic availability at reasonable prices.”