Thai rice export figure decreased 44 percent in quantity and 32 percent in value from January to September 2012. The export volume was recorded at 5 million tonnes with a value of Bt106 billion.

Thai Rice Exporters Association reported the figures for Jan-Sep compared them to the same period last year which saw the export quantity of 9 million tonnes with a value of Bt156 billion.

Such reduction came despite the price of exported rice at US$678/tonne on average, 18 percent higher year-on-year.

During Jan-Sep, the top five importers of Thai rice were Nigeria at 904,000 tonnes, Iraq at 545,000 tonnes, Indonesia at 310,000 tonnes, Ivory Coast at 299,000 tonnes, and South Africa at 276,000 tonnes respectively.

In September alone, Thailand exported 540,000 tonnes of rice at Bt12 billion in value, while in August the figure was lower at 508,000 tonnes and Bt11 billion respectively.

According to Thai Rice Exporters Association, Thailand is in an unfavourable position while in the normal rice market, compared to competitors from India, Pakistan and Vietnam, Thai rice prices are higher than its competitors by around US$120-140/tonne.

Regarding the October tendency, the association forecast rice export would reach 600,000 tonnes. Thai rice exporters are to sell white rice to Iraq and Japan, according to previously bidding contracts.

via Volume of Thailand rice exports decreases 44% in first nine months this year.