Thailand targets higher rice exports of 7.5 mln tonnes this year

BANGKOK, Sept 8 (Reuters) - Thailand is aiming for rice exports of 7.5 million tonnes this year, up from a previous target of 7 million tonnes, due to increased output and a weak baht amid global food insecurity, a government spokesperson said on Thursday.

Thailand, the world's third-largest rice exporter after India and Vietnam, exported 4.09 million tonnes of rice in the January-July period, up 54% from a year earlier, Rachada Dhnadirek said in a statement.

The country's favourable weather has boosted its rice production while a weak baht has kept Thai rice prices competitive, she said. The Thai currency was hovering near its weakest level in more than 15 years against the dollar.

Thailand has seen higher demand for its rice as countries seek to ensure food security and replace wheat and corn in the animal feed industry, Rachada said.

The agriculture ministry expected paddy rice output of 26.92 million tonnes in the 2022/23 crop year, up 2.09% from a year earlier, she said.

Date: 08-Sep-2022