Thailand's rice exports boom: +13% in 2024

Thailand exported 9.95 million tonnes of rice in 2024, a 13% increase from the previous year.

The Ministry of Commerce said on Tuesday, January 28, that this was the highest figure in six years.

The value of rice exported last year also increased 27 percent from the previous year to 225.65 billion baht, said Arada Fuangtong, director-general of the Department of Foreign Trade.

White rice accounts for 60% of total exports (5.99 million tonnes), followed by jasmine rice (1.74 million tonnes), steamed rice (1.27 million tonnes), fragrant rice (0.63 million tonnes), glutinous rice (0.3 million tonnes) and brown rice (0.02 million tonnes).

Ms. Arada said Thailand's top five export markets are Indonesia (1.33 million tonnes), followed by Iraq (1 million tonnes), the United States (0.85 million tonnes), South Africa (0.83 million tonnes) and the Philippines (0.62 million tonnes).

She added that rice exports in 2024 exceeded the ministry's target of 9 million tonnes thanks to growing demand from almost all regions, particularly Africa, which ordered 34% more rice from Thailand compared to the previous year.

Rice exports expected to decline in 2025

Rice export. Photo montage: The Nation Thailand

The department estimates that rice exports in 2025 will contract compared to last year due to India's lifting of export restrictions, which were implemented to increase domestic stocks.

Indonesia, meanwhile, is expected to cut rice imports this year due to an expected increase in domestic production, while stocks are already high.

The department and the Thai Rice Exporters Association estimated that total rice exports in 2025 would be around 7.5 million tonnes.

Thailand to promote rice exporters

Rice farmers in Thailand. Photo: UNDP

Arada added that the department would continue to promote rice exporters who are small and medium-sized enterprises (SMEs), in line with the government's policy to boost rice exports and eliminate monopolies.

She said the department had invited exporting SMEs to participate in national and international trade fairs scheduled for this year, including Biofach in Germany, Natural Products Expo West in the United States and THAIFEX-Anuga Asia 2025 in Bangkok.

It is estimated that these fairs could help generate Thai rice sales of up to 600 million baht.

The high Thai baht rate could also impact exports in 2025.

See: Thailand: Call for interest rate cut and weaker baht

See also:

Thailand's rice yields are much lower than those of other countries

Thai rice in trouble due to rising baht and India

Thai rice exports to jump 25% in first half of 2024

Source: The Nation Thailand