Thailand’s rice exports rebound on strong supply, prices

By Susan Reidy

Thailand’s rice exports rebounded in 2022-23 on strong supply and competitive prices, according to a report from the Foreign Agricultural Service (FAS) of the US Department of Agriculture.

Exports reached 8.8 million tonnes, a 14% increase from 2021-22. However, exports in 2023-24 are expected to drop to 8 million tonnes as more exportable rice supplies are available in Cambodia and Vietnam.

Production in 2023-24 is estimated at 19.9 million tonnes, a 5% drop from 2022-23 due to a combination of dry spells and flood damage.

Wheat imports for 2023-24 were revised upward to 3 million tonnes but are still 5% below the 2022-23 estimate. The upturn in demand for feed wheat imports will not offset a slow recovery in milling wheat demand, the FAS said.

Feed mills shifted to feed wheat for poultry and swine in response to high corn prices.Milling wheat imports were up 29% in the first five months of 2023-24 as the tourism sector continues to recover from the pandemic. 

This article has been republished from The World Grain.