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Thailand's rice exports jump 32 pct in January-May

11 June 2024

BANGKOK, June 10 (Xinhua) -- Thailand's rice exports jumped 32.18 percent in the first five months of 2024 compared to a year earlier due to higher demand for the grain amid concerns over food security and volatile weather conditions, official data showed on Monday.

The Southeast Asian country shipped out 4.6 million tons of rice during the January-May period, worth 106.28 billion baht (about 2.9 billion U.S. dollars), an increase in shipment value of 64.59 percent year on year, according to the Ministry of Commerce.

The substantial growth was attributed to the weak baht currency, which rendered Thai rice prices highly competitive on the global market, while India, the world's biggest supplier, continued to implement measures to control rice exports, said Ronarong Poolphiphat, director general of the ministry's foreign trade department.

With key markets for Thai rice including Indonesia, Iraq, the United States, the Philippines and South Africa, the kingdom expects its rice shipments to surpass the initial target of 7.5 million tons set for 2024, Ronarong said in a statement.

Source : bignewsnetwork