
Thailand - Rice - Market Analysis, Forecast, Size, Trends and Insights
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View PricingThailand's Export of Rice Skyrockets to $5.2B by 2023
Thailand Rice Exports
In 2023, overseas shipments of rice increased by 14% to 8.8M tons, rising for the third year in a row after three years of decline. Overall, total exports indicated a notable increase from 2013 to 2023: its volume increased at an average annual rate of +2.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, exports increased by +52.8% against 2020 indices. The pace of growth appeared the most rapid in 2014 when exports increased by 66%. Over the period under review, the exports attained the maximum at 12M tons in 2017; however, from 2018 to 2023, the exports stood at a somewhat lower figure.
In value terms, rice exports soared to $5.2B (IndexBox estimates) in 2023. Over the period under review, total exports indicated a slight increase from 2013 to 2023: its value increased at an average annual rate of +1.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, exports increased by +52.7% against 2021 indices. Over the period under review, the exports hit record highs at $5.6B in 2018; however, from 2019 to 2023, the exports failed to regain momentum.
COUNTRY | Export Value of Rice in Thailand (million USD) | ||||||||||
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2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | |
Indonesia | 52.5 | 157 | 113 | 162 | 59.8 | 369 | 39.0 | 71.7 | 37.4 | 42.6 | 742 |
United States | 458 | 449 | 412 | 377 | 397 | 551 | 624 | 696 | 500 | 538 | 638 |
South Africa | 232 | 239 | 225 | 235 | 312 | 324 | 296 | 317 | 346 | 318 | 459 |
Iraq | 348 | 40.4 | 39.8 | 3.4 | 38.8 | 11.3 | 34.3 | 9.9 | 113 | 651 | 419 |
China | 251 | 384 | 480 | 479 | 574 | 551 | 303 | 272 | 324 | 387 | 314 |
Philippines | 30.5 | 142 | 298 | 108 | 106 | 406 | 124 | 36.4 | 61.5 | 73.7 | 214 |
Malaysia | 91.2 | 185 | 181 | 172 | 124 | 195 | 116 | 35.7 | 65.4 | 55.1 | 211 |
Hong Kong | 185 | 179 | 177 | 168 | 168 | 196 | 190 | 189 | 155 | 144 | 144 |
Cameroon | 136 | 198 | 159 | 170 | 274 | 160 | 217 | 126 | 123 | 88.5 | 100 |
Benin | 467 | 485 | 298 | 520 | 687 | 629 | 415 | 226 | 158 | 133 | 70.8 |
Others | 2,169 | 2,980 | 2,230 | 2,014 | 2,446 | 2,227 | 1,847 | 1,724 | 1,513 | 1,513 | 1,872 |
Total | 4,420 | 5,439 | 4,613 | 4,410 | 5,187 | 5,619 | 4,206 | 3,704 | 3,396 | 3,943 | 5,184 |
Exports by Country
Indonesia (1.4M tons), South Africa (885K tons) and Iraq (854K tons) were the main destinations of rice exports from Thailand, with a combined 36% share of total exports.
From 2013 to 2023, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Indonesia (with a CAGR of +30.7%), while the other leaders experienced more modest paces of growth.
In value terms, the largest markets for rice exported from Thailand were Indonesia ($742M), the United States ($638M) and South Africa ($459M), with a combined 35% share of total exports.
Among the main countries of destination, Indonesia, with a CAGR of +30.3%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.
Export Prices by Country
In 2023, the rice price stood at $591 per ton (FOB, Thailand), with an increase of 16% against the previous year. Overall, the export price, however, showed a slight descent. The most prominent rate of growth was recorded in 2019 when the average export price increased by 36%. As a result, the export price attained the peak level of $688 per ton. From 2020 to 2023, the average export prices remained at a somewhat lower figure.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Hong Kong ($912 per ton), while the average price for exports to Senegal ($477 per ton) was amongst the lowest.
From 2013 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to the Philippines (+1.0%), while the prices for the other major destinations experienced more modest paces of growth.
This report provides an in-depth analysis of the rice market in Thailand. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- FCL 27 - Rice, paddy
Country coverage:
- Thailand
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in Thailand
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND THE AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional EditionPRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and its Prospects
- MARKET SIZE: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
- MARKET STRUCTURE: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
- TRADE BALANCE: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
- PER CAPITA CONSUMPTION: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
- MARKET FORECAST TO 2035
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4. MOST PROMISING PRODUCTS FOR DIVERSIFICATION
Finding New Products to Diversify Your Business
- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCTS
- MOST TRADED PRODUCTS
- MOST PROFITABLE PRODUCTS FOR EXPORTS
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- COUNTRIES WITH TOP YIELDS
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Export
- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
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7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
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8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
- IMPORTS BY COUNTRY: HISTORICAL DATA (2012–2024)
- IMPORT PRICES BY COUNTRY: HISTORICAL DATA (2012–2024)
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9. EXPORTS
The Largest Destinations for Exports
- EXPORTS: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
- EXPORTS BY COUNTRY: HISTORICAL DATA (2012–2024)
- EXPORT PRICES BY COUNTRY: HISTORICAL DATA (2012–2024)
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
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LIST OF TABLES
- Key Findings In 2024
- Market Volume, In Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
- Market Value: Historical Data (2012–2024) and Forecast (2025–2035)
- Per Capita Consumption: Historical Data (2012–2024) and Forecast (2025–2035)
- Imports, In Physical Terms, By Country, 2012-2024
- Imports, In Value Terms, By Country, 2012-2024
- Import Prices, By Country, 2012-2024
- Exports, In Physical Terms, By Country, 2012-2024
- Exports, In Value Terms, By Country, 2012-2024
- Exports Prices, By Country, 2012-2024
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LIST OF FIGURES
- Market Volume, in Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
- Market Value: Historical Data (2012–2024) and Forecast (2025–2035)
- Market Structure – Domestic Supply Vs. Imports, in Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
- Market Structure – Domestic Supply Vs. Imports, in Value Terms: Historical Data (2012–2024) and Forecast (2025–2035)
- Trade Balance, in Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
- Trade Balance, in Value Terms: Historical Data (2012–2024) and Forecast (2025–2035)
- Per Capita Consumption: Historical Data (2012–2024) and Forecast (2025–2035)
- Market Volume Forecast to 2035
- Market Value Forecast to 2035
- Market Size and Growth, by Type
- Average Per Capita Consumption, by Type, 2024
- Exports and Growth, by Type
- Export Prices and Growth, by Type
- Production Volume and Growth
- Yield and Growth
- Exports and Growth
- Export Prices and Growth
- Market Size and Growth
- Per Capita Consumption
- Imports and Growth
- Import Prices
- Production, in Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
- Production, in Value Terms: Historical Data (2012–2024) and Forecast (2025–2035)
- Harvested Area: Historical Data (2012–2024) and Forecast (2025–2035)
- Yield: Historical Data (2012–2024) and Forecast (2025–2035)
- Imports, in Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
- Imports, in Value Terms: Historical Data (2012–2024) and Forecast (2025–2035)
- Imports, in Physical Terms, by Country, 2024
- Imports, in Physical Terms, by Country, 2012-2024
- Imports, in Value Terms, by Country, 2012-2024
- Import Prices, by Country, 2012-2024
- Exports, in Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
- Exports, in Value Terms: Historical Data (2012–2024) and Forecast (2025–2035)
- Exports, in Physical Terms, by Country, 2024
- Exports, in Physical Terms, by Country, 2012-2024
- Exports, in Value Terms, by Country, 2012-2024
- Export Prices, by Country, 2012-2024