Thailand’s rice exports rebound on strong supply, prices

Exports reached 8.8 million tonnes, a 14% increase from 2021-22. However, exports in 2023-24 are expected to drop to 8 million tonnes as more exportable rice supplies are available in Cambodia and Vietnam.

Production in 2023-24 is estimated at 19.9 million tonnes, a 5% drop from 2022-23 due to a combination of dry spells and flood damage.

Wheat imports for 2023-24 were revised upward to 3 million tonnes but are still 5% below the 2022-23 estimate. The upturn in demand for feed wheat imports will not offset a slow recovery in milling wheat demand, the FAS said.

Feed mills shifted to feed wheat for poultry and swine in response to high corn prices.

Milling wheat imports were up 29% in the first five months of 2023-24 as the tourism sector continues to recover from the pandemic.