Thailand: Rice Market 2025

Rice Market Size in Thailand

For the fourth year in a row, the Thai rice market recorded growth in sales value, which increased by 4% to $X in 2021. In general, consumption, however, showed a noticeable curtailment. Rice consumption peaked at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Rice Production in Thailand

In value terms, rice production stood at $X in 2021 estimated in export price. In general, production, however, recorded a perceptible setback. The growth pace was the most rapid in 2019 with an increase of 20% against the previous year. Rice production peaked at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

The average yield of rice in Thailand rose modestly to X tons per ha in 2021, picking up by 2.8% against 2020 figures. Overall, the yield, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when the yield increased by 4.1%. Over the period under review, the average rice yield reached the maximum level at X tons per ha in 2012; however, from 2013 to 2021, the yield stood at a somewhat lower figure. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2021, the rice harvested area in Thailand rose remarkably to X ha, with an increase of 8.1% against the previous year. Over the period under review, the harvested area, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 when the harvested area increased by 10%. Over the period under review, the harvested area dedicated to rice production reached the peak figure at X ha in 2012; however, from 2013 to 2021, the harvested area remained at a lower figure.

Rice Exports

Exports from Thailand

In 2021, after three years of decline, there was significant growth in overseas shipments of rice, when their volume increased by 9.5% to X tons. Over the period under review, exports, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2014 when exports increased by 62%. The exports peaked at X tons in 2017; however, from 2018 to 2021, the exports remained at a lower figure.

In value terms, rice exports contracted to $X in 2021. In general, exports, however, showed a pronounced decline. The most prominent rate of growth was recorded in 2014 when exports increased by 23%. Over the period under review, the exports reached the maximum at $X in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

Exports by Country

South Africa (X tons), China (X tons) and the United States (X tons) were the main destinations of rice exports from Thailand, together accounting for 32% of total exports.

From 2012 to 2021, the biggest increases were recorded for China (with a CAGR of +15.1%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for rice exported from Thailand were the United States ($X), South Africa ($X) and China ($X), together comprising 34% of total exports.

Among the main countries of destination, China, with a CAGR of +8.6%, 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 2021, the average rice export price amounted to $X per ton, with a decrease of -16.3% against the previous year. In general, the export price recorded a pronounced reduction. The pace of growth appeared the most rapid in 2019 when the average export price increased by 35%. As a result, the export price reached the peak level of $X per ton. From 2020 to 2021, the average export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Hong Kong SAR ($X per ton), while the average price for exports to Benin ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Mozambique (-1.0%), while the prices for the other major destinations experienced a decline.

Rice Imports

Imports into Thailand

In 2021, after four years of growth, there was significant decline in overseas purchases of rice, when their volume decreased by -64.1% to X tons. In general, imports saw a mild decline. The pace of growth appeared the most rapid in 2015 when imports increased by 516% against the previous year. Over the period under review, imports hit record highs at X tons in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

In value terms, rice imports dropped remarkably to $X in 2021. Over the period under review, imports saw a noticeable decline. The pace of growth was the most pronounced in 2015 when imports increased by 196% against the previous year. Over the period under review, imports attained the maximum at $X in 2020, and then shrank dramatically in the following year.

Imports by Country

China (X tons), India (X tons) and Pakistan (X tons) were the main suppliers of rice imports to Thailand, together accounting for 74% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by China (with a CAGR of +103.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Pakistan ($X) and Japan ($X) were the largest rice suppliers to Thailand, with a combined 66% share of total imports.

China, with a CAGR of +80.0%, recorded the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average rice import price stood at $X per ton in 2021, rising by 57% against the previous year. In general, the import price, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 an increase of 281% against the previous year. As a result, import price reached the peak level of $X per ton. From 2015 to 2021, the average import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Japan ($X per ton), while the price for Myanmar ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Cambodia (+30.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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