Rice exports in July could hit 900,000 tonnes

Economy August 02, 2014 01:00

By The Nation

2,985 Viewed

After surging 59.2 per cent in the first half of this year, Thailand's rice exports may have touched 900,000 tonnes in July, given its lower prices than rivals' and tightening rice supply in Vietnam, said the Thai Rice Exporters Association.

As of July 30, in FOB (free-on-board) terms, the Thai export price of 5 per cent broken white rice was lower than competitors’ at US$432 per tonne. Based on oryza.com data on the same date, the Vietnamese export price of 5 per cent broken white rice was $465-$475 per tonne. India’s and Pakistan’s export prices of the same quality rice were in the range of $435-$445 per tonne.
According to the Thai Rice Exporters Association, this country’s export prices last month might have been higher than in June because of a tighter supply after a slowdown of the government’s rice sales and appreciation of the baht. Foreign buyers, including in Africa and the Middle East, purchased more Thai white and parboiled rice, it said. 
During the first half of this year, Thai rice exports totalled 4.68 million tonnes valued at Bt76.35 billion. Export volume jumped 59.2 per cent year on year, while export value increased 23.2 per cent.
Benin was the top importer, buying 510,016 tonnes of Thai rice in the first six months, followed by China’s 328,894 tonnes and Ivory Coast’s 257,581 tonnes.
In June, Thai rice exports fell slightly from the prior month because of a 13-per-cent drop in white-rice shipments to 407,577 tonnes. Most white rice was exported to Cameroon, China, Japan, Mozambique, Angola and Malaysia.
June’s jasmine-rice exports totalled 146,780 tonnes, up 14.6 per cent from May. Most jasmine rice was exported to the United States, Hong Kong, Canada and Singapore.
Parboiled-rice exports inched up 2 per cent to 262,099 tonnes. Of that total, 130,422 tonnes of parboiled rice was exported to Benin, while 38,950 tonnes was shipped to Nigeria.