Thailand is on track to export 6 million tonnes of rice this year due to an anticipated uptick in demand, the Thai Rice Exporters Association said on Friday.
A weaker baht, which has depreciated about 13% against the dollar this year, has resulted in lower export prices of Thai rice, making it more competitive against rival exporters, said Chookiat Ophaswongse, honorary president of the association.
Thailand’s 5% broken rice prices were quoted at around US$385-$386 per tonne on Thursday, significantly lower than those of the same grade from main competitor Vietnam at $425-$430 per tonne.
Buyers that have in recent years preferred Vietnamese rice such as Malaysia, the Philippines and China, have started buying Thai rice...
