Vietnam overtakes Thailand as world’s second largest rice exporter

According to the Thai Rice Exporters Association, Vietnam has surpassed Thailand to become the world’s second largest rice exporter during the first six months of this year, with India maintaining its position as the top exporter.

From January to June, India exported 11.68 million tonnes of rice, a 36.5% increase year on year. Vietnam followed with 4.72 million tonnes, up 3.6%, while Thailand exported 3.73 million tonnes, down 27.3%. Pakistan exported 2.76 million tonnes, a 20.2% decrease, and the United States exported 1.40 million tonnes, down 23.5%.

The top five importers of Thai rice were Iraq (582,703 tonnes, accounting for 15.6% of total exports), the United States (430,603 tonnes, 7.4%), African nations (359,031 tonnes, 2.5%), China (332,183 tonnes), and Senegal (165,294 tonnes). The total value of Thailand’s rice exports for this period was estimated at 75.57 billion baht, a 36.4% decline compared to the same period last year.

The association’s president, Charoen Laothamatas, predicts that Thailand exported over 600,000 tonnes of rice in July, driven by increased orders from Iraq, China, Japan, and some African nations, possibly due to falling rice prices. Rice prices are expected to continue weakening due to increased supply among rice-producing countries and softening demand, leading to competitive price cuts by exporters.

Tags: rice, Thailand