BANGKOK (Reuters) -Thailand is hoping to meet its rice export target of 7.5 million metric tons this year by seeking more deals in markets where demand is strong, commerce ministry official said on Tuesday.
Rice shipments dropped by 25% year-on-year to 4.3 million metric tons in the first seven months of 2025, but those to key markets such as the United States and China still increased over the period, Arada Fuangtong, head of the foreign trade department, told a press conference.
“There’s still some hope, even if it seems dim. We’ll try our best,” she said, adding that efforts were underway to focus on markets including China, the Middle East, and Japan.
Rice exports to the United States rose 4.3% year-on-year in the January-July period and full-year volumes are expected to be close to last year’s level of about 800,000 metric tons, despite tariffs, she said.
The decline in rice shipments has been driven by increased global rice production, particularly after the resumption of rice exports from India, Arada said.
Major rice importers like Indonesia and the Philippines have also cut their purchases, she added.
Adding to the pressure is the strength of the baht, she said, as the currency has gained about 5.8% against the dollar so far this year.
“What worries us the most is the decline in the (rice export) value. Even though the volumes dropped sharply, the stronger baht made the value fall even further,” Arada said.
Thailand, the world’s second-largest exporter of the grain after India last year, recorded a 35.4% annual fall in the value of rice exports to 86.4 billion baht ($2.67 billion) over the January-July period.
($1 = 32.4200 baht)
(Reporting by Kitiphong Thaichareon and Thanadech Staporncharnchai; Writing by Orathai Sriring; Editing by David Stanway)
