Thailand’s rice exports for January were at 805,519 tons, up 75.2 percent from a year earlier, helped by year-end orders, higher demand from the Middle East and a weak baht currency, the Commerce Ministry said. | Reuters
The region was the only growing market for Thai rice in the last year, taking 2.02 million tons of rice, or 26 percent of total rice shipments, Ronnarong said.However, the ministry is sticking to its overall rice export target of 7.5 million tons this year as it wants to monitor the baht before deciding whether to revise the target, he said.
Earlier this year, the ministry lowered its export target for 2023 from 8 million tons to 7.5 million tons as the baht, which dropped as much as 13 percent against the dollar in October last year, appreciated. The baht has weakened again, by 1.5 percent against the dollar so far this year, becoming Asia’s third-worst performing currency.Thailand exported 7.69 million tonnes of rice in 2022, up 22.1 percent from a year earlier, beating a target of 7.5 million tons with top markets being Iraq, South Africa, China and the United States.Subscribe to our daily newsletter
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