Key Takeways
The Ministry of Commerce reported a 22.13% increase in Thai rice exports for January to September 2024, totaling 7.45 million tons. Export values rose by 45.85% to over 172.019 billion baht, largely driven by global demand amidst economic uncertainties, droughts, and conflicts.
Major markets for Thai rice include Indonesia, Iraq, and the United States, which have significantly contributed to the export growth. The Ministry expects exports to reach 9 million tons by year-end, bolstered by increased consumption during the festive season.
- The Department of Foreign Trade will monitor global market conditions to develop strategies for sustaining export momentum, ensuring national revenue growth and stable income for Thai farmers.
The Ministry of Commerce has revealed insightful data on Thai rice exports during the first nine months of 2024 (January – September), showing that export volumes have reached an impressive 7.45 million tons—a 22.13% increase compared to the same period last year. Export values have also seen a notable rise, totaling over 172.019 billion baht—an increase of 45.85%. This growth is largely driven by rising global demand as many countries seek to bolster their rice reserves for food security. Global uncertainties, such as economic instabilities, droughts, and conflicts, have further fueled this surge as countries seek to import rice for both consumption and reserve stockpiling.
This year’s key markets for Thai rice include Indonesia, Iraq, and the United States, which are high-demand markets playing a significant role in supporting the growth of Thailand’s rice exports.
Additionally, the Ministry of Commerce anticipates that Thai rice exports will reach up to 9 million tons by the end of 2024, driven by continued demand from various countries. The end-of-year festive season often sees increased rice consumption, which also supports this goal. The Ministry has tasked the Department of Foreign Trade with closely monitoring global market conditions to develop strategies that sustain Thai rice export momentum. This not only boosts national revenue but also contributes to stable long-term income for Thai farmers.
For More Information: Prime Minister’s Office, Government Spokesperson Bureau
Link: www.thaigov.go.th
