Rice exports likely to hit annual goal

Rice exports are on track to achieve the target of 7.5 million tonnes this year, although the value is anticipated to drop by 40% from last year, says the Thai Rice Exporters Association.

- PHUSADEE ARUNMAS

A display of different Thai rice varieties. Mr Chookiat says achieving the annual export goal would require an average monthly shipment of more than 500,000 tonnes of rice in the fourth quarter.

(None)

Chookiat Ophaswongse, honorary president of the association, said for the first nine months of this year, Thailand exported more than 5.9 million tonnes of rice, based on export permission data.

He said achieving the annual export goal would require average monthly exports of more than 500,000 tonnes during the final quarter.

If Thailand manages to ship 600,000 tonnes per month during that period, total exports could reach 8 million tonnes.

However, this year’s global rice market is much worse than last year’s, with heightened competition amid abundant supply and decreasing demand, said Mr Chookiat.