Thai Rice Exports Recover in Q1 with 2.87% Growth, But Price Declines Drag Revenue Down to 32 Billion Baht
Thailand's Q1 rice exports rose 2.87% by volume to 1.79 million tons, but falling global prices and a stronger baht pushed revenue down 4.65% to $1.046 billion despite solid demand from Africa and Asia.
Thailand's Department of Foreign Trade revealed that Thai rice exports in the first quarter of 2025 reached approximately 1.79 million tons, representing a 2.87% increase from 1.74 million tons in the same period of the previous year. However, export value declined to 1.046 billion USD (approximately 32.4 billion baht), down 4.65% from 1.097 billion USD (approximately 37.1 billion baht) year-over-year. The Thai baht strengthened by 6.92% against the US dollar, averaging 31.61 baht per dollar during the period.
All rice varieties experienced price declines in March 2025. Jasmine rice fell 2.19% to $1,026 per ton, Thai fragrant rice dropped 6.52% to $645 per ton, sticky rice decreased 4.66% to $818 per ton, parboiled rice fell 6.05% to $404 per ton, and white rice declined 6.86% to $380 per ton.
White rice remained Thailand's largest export segment at 47.16% of volume, with primary markets including Iraq, the Philippines, Malaysia, and Mozambique. Jasmine rice accounted for 25.33% destined mainly to the United States, Senegal, Hong Kong, and Canada. Parboiled rice represented 18.34% going to South Africa, Yemen, and Congo. Thai fragrant rice comprised 6.11% to the US, Senegal, and Cameroon, while sticky rice made up 2.62% to China, Japan, the US, and Belgium. Brown rice represented 0.44% to South Korea, the US, and Canada.
Africa emerged as Thailand's primary rice export market, accounting for 43.48% of total volumes, followed by Asia at 23.48%, the Middle East at 13.91%, the Americas at 12.17%, Europe at 5.22%, and Oceania at 1.74%.
The first-quarter volume increase of 2.87% was driven by strong domestic rice supply from the dry-season harvest in March-April, combined with a weaker Thai baht that improved export competitiveness. Major importers like Malaysia and the Philippines are expected to increase purchases to meet domestic consumption and build food security reserves amid geopolitical uncertainties involving the United States, Israel, and Iran. These countries' proximity to Thailand shields them from shipping route disruptions in conflict zones, and their preference for white rice may partially substitute Thai white rice exports to Iraq.
