Thai rice exports from January to October 2024 reached 8.35 million tons, valued at 191 billion baht (5.4 billion US dollars), representing an increase of 20.3 percent in volume and 39.8 percent in value over the same period in 2023.

According to a report from the Department of Foreign Trade, white rice led the export volume during the 10-month period, with 5.18 million tons, followed by Hom Mali rice, parboiled rice, Thai fragrant rice, glutinous rice, and brown rice.

Both the Department of Foreign Trade and the Thai Rice Exporters Association expect that Thai rice exports in 2024 will reach nine million tons, valued at 230 billion baht. The increase in Thai rice exports is likely to result in higher prices for paddy. 

The department pointed out key factors leading to an increase in Thai rice exports. For instance, rice import demand continued to grow in many markets, such as Indonesia, Iraq, and the Philippines, while India issued measures to control its rice exports. Moreover, the demand for Hom Mali rice in the US market has also increased significantly.

Thailand has sufficient rice volume for exports in response to the global market demand. The department has prepared to expand Thailand’s rice markets in 2025. Although the global rice outlook remains positive, Thailand may face some challenges affecting its rice exports.

For example, India is likely to lift its export restrictions, and global rice production is expected to increase. Several major importers are likely to reduce their rice imports. Geological issues and uncertainties in currency exchange will also be other kinds of risk.

Thailand is also preparing to penetrate such potential markets as European countries, Canada, and the Middle Eastern region. It will join more trade exhibitions overseas to make Thai rice better known and expand Thai rice markets. Farmers will also be provided with knowledge about rice production to meet the demands of global markets.