Rice exports hit 3-year high in July

Thailand exported more rice in July than any month in three years, but the nearly one million tonnes fell short the industry’s peak, the Thai Rice Exporters Association said.

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The country shipped 941,691 tonnes of rice worth 14.4 billion baht, supported by attractive prices. That fell short, however, of the record export of 1.13 million tonnes in August 2011.

Association president Chaoren Laothamatas said exports have trended up since June as the price of Thai rice became compatible to rivals, coupled with clearer policies on the management of the government's stockpile.

Price of Thai 5% broken white rice dropped to $441 a tonne, lower than Vietnam's quoted price of $445-455 a tonne.

Of all exports in July, 448,652 tonnes were white rice shipped to Ivory Coast, Malaysia and China.

Over the first seven months of this year, Thailand exported 5.62 million tonnes, up 55.5% from 3.61 million tonnes in the same period of last year. The value of 90.85 billion baht rose by 20.6% from 75.368 billion baht.

Thailand's top customers during the period were Benin at 689,329 tonnes (up 55.7%), China at 338,170 tonnes (up 227.1%), Ivory Coast at 325,558 tonnes (up 68.2%), Nigeria with 321,955 tonnes (up 466.5%) and Cameroon with 281,905 tonnes (up 190.2%).

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