BANGKOK, 16 October 2017 (NNT) – The Thai Rice Exporters Association has indicated a 15 percent increase in the average price of Thai rice this year due mainly to high demand among importers.

Pol Lt Charoen Laothamatas, President of the Thai Rice Exporters Association, reported that the Kingdom has exported more than 8.2 million tons of rice since the beginning of this year. Given the export volume during the last three months is projected to be around 900,000 tons monthly, the president said the association has set the yearly export target at 10.8 million tons, which is close to the Commerce Ministry’s figure of 11 million.

Mr Charoen added that most mill houses currently do not have any grains left in stock, resulting in a surge in demand overseas as well as the price of Thai rice. Compared to last year, the price has gone up by 15 percent; however, it is still on par with the rates of competitors.

Although some rice plantations in Thailand have been damaged by recent floods, the high precipitation this year is expected to help boost the country’s rice output by about 10 percent.