The weakening baht sent Thai rice exports for the first quarter of 2024 up by 19.4%, from 2.06 million tonnes last year to 2.46 million.
The export value for the January-March period is estimated at 56.73 billion baht, or US$1.61 billion, a 49% increase from the same period last year, according to the Thai Rice Exporters Association.
Rice exports in March were, however, 10.4% lower than in February, with 716,619 tonnes, worth 17.33 billion baht, compared to 800,225 tonnes, worth 18.53 billion baht in February.
Exports of Hom Mali fragrant rice, broken rice, and parboiled rice in February were lower than in January, particularly parboiled rice, which is expected to drop by 50% for the whole year, mainly due to declining demand from buyers and cheaper parboiled rice available from India.
Exports of Hom Mali rice in March registered a 4.5% drop from February, with 109,448 tonnes being exported to main markets, such as the US, Hong Kong, Singapore, Canada, China, the United Kingdom, and Australia.
Thailand expects to export about 800,000 tonnes of all types of rice in April, as exporters still have commitments to fulfill their supply contracts to buyers in ASEAN and Japan, as well as some African and Middle Eastern countries.
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