Thailand's Rice Exports
Thailand is one of the world's leading rice exporters, and its exports across different rice grades are closely watched by the global rice market. The year 2023 proved to be a strong year for Thai rice exports, with the country exporting a total of 8.73 million metric tons (MMT), an impressive 14% increase compared to 7.69 MMT in 2022. This surge in exports can be attributed to various factors, including Thailand's competitiveness in the global market, India's restricted presence due to export restrictions, and steady demand from key markets like Indonesia, Iraq, and Japan.
White Rice: The Star Performer
The standout performer in Thailand's 2023 rice exports was white rice. Exports of this grade rose by a remarkable 27% from 3.50 MMT in 2022 to 4.45 MMT in 2023, accounting for a staggering 952,000 metric ton (TMT) increase year-on-year. This significant growth was driven by strong demand from several key markets, including Indonesia (1.24 MMT), Iraq (848 TMT), the Philippines (402 TMT), Malaysia (391 TMT), and Japan (326 TMT).
Other Notable Performers
In addition to white rice, Thailand also witnessed positive growth in other rice grades in 2023:
- White Brokens: Exports of white brokens rose by 30% from 394 TMT in 2022 to 515 TMT in 2023, driven by improved feed market availability and India's broken rice export ban.
- Fragrant Brokens: Fragrant brokens exports increased by 24% from 410 TMT in 2022 to 507 TMT in 2023, likely due to Vietnam's rising prices and potential changes in Thailand's fragrant rice production dynamics.
- Fragrant Rice: Fragrant rice exports saw a modest 3% increase, rising from 1.64 MMT in 2022 to 1.69 MMT in 2023, aided by higher prices in Vietnam and suggested structural changes in Thailand's fragrant rice production.
Weaknesses in Glutinous and Parboiled Rice
While most grades exhibited positive growth, Thailand experienced weakness in two specific segments:
- Glutinous Rice: Exports of glutinous rice declined by 19% from 171 TMT in 2022 to 140 TMT in 2023, reflecting Thailand's limited production and higher prices, as well as competition from Vietnam's dominant glutinous rice exports.
- Parboiled Rice: Parboiled rice exports fell by 9% from 1.50 MMT in 2022 to 1.36 MMT in 2023, primarily due to Thailand's strong focus on white rice exports, which tightened raw material availability, and the country's struggle to compete with India's cheaper parboiled rice offerings.
Regional Demand Dynamics
Thailand's rice exports catered to diverse regional markets in 2023, with varying demand patterns across different grades:
White Rice:
- Asia: 2.54 MMT (led by Indonesia, Philippines, Malaysia, and Japan)
- Middle East: 892 TMT (dominated by Iraq)
- North America: 97 TMT (dominated by the United States)
- South America: 68 TMT (dominated by Brazil)
White Brokens:
- Asia: 428 TMT (led by Indonesia and China)
- Africa: 55 TMT
- North America: 22 TMT
Fragrant Brokens:
- Africa: 475 TMT (led by Senegal, Ivory Coast, and Togo)
- Europe: 21 TMT
- North America: 6 TMT
Fragrant Rice:
- North America: 771 TMT (dominated by the United States and Canada)
- Asia: 550 TMT (led by China, Hong Kong, Singapore, and Australia)
- Europe: 170 TMT (led by France, the United Kingdom, the Netherlands, Italy, and Belgium)
- Africa: 109 TMT (led by Ivory Coast, Ghana, and South Africa)
- Middle East: 65 TMT (led by Israel)
Parboiled Rice:
- Africa: 1.01 MMT
- Middle East: 183 TMT
- Asia: 120 TMT
Glutinous Rice:
- Asia: 108 TMT
- North America: 21 TMT
- Europe: 7 TMT
- Middle East: 2 TMT
