Semi-milled or wholly milled rice market in Thailand

Earlier Report Observations

The domestic market for semi-milled or wholly milled rice in Thailand grew from 7.8 million tons in 2018 to a peak of 12.8 million tons in 2021. This expansion was supported by active government incentives for production, including investments in irrigation and the development of short-growth-duration rice varieties aimed at boosting yield. Concurrently, initiatives promoting sustainable rice cultivation, such as the SRP standard advocated by UNEP, helped improve farm efficiency. The period also saw the steady growth of niche segments like organic and colored rice, reflecting evolving consumer preferences.

A sharp reversal occurred in 2022, with the market volume contracting by a third to 8.6 million tons. This downturn was primarily driven by a 15.6% drop in production, which fell to 15.4 million tons as farm-gate prices hit their lowest level in 14 years. The price collapse stemmed from intense competition from Indian rice and high production costs, which discouraged farmers. Furthermore, a government price-pledging scheme that had previously set prices above market levels distorted incentives and contributed to the market correction.

The market decline continued at a slower pace to 8.1 million tons in 2023. Production saw a modest recovery to 15.8 million tons but was constrained by the El Niño weather phenomenon and persistently high cultivation costs. Meanwhile, exports surged by 12.5% to 7.7 million tons, fueled by record-high global rice prices after India imposed export restrictions, making Thai rice more attractive internationally. By 2024, India's return to the export market was exerting downward pressure on domestic prices, while consumer demand continued shifting towards premium segments such as organic and GI-certified rice.

Production semi-milled or wholly milled rice in Thailand

In kind, 2017-2020, K t

Globally, Thailand ranked as the 6th largest producer of semi-milled or wholly milled rice from 2017 to 2020.

Top producers of semi-milled or wholly milled rice, 2017-2020

World map of production of semi-milled or wholly milled rice, 2017-2020

Thailand's production of semi-milled or wholly milled rice fell for the third year in a row. In 2020, the country produced 15 500 thousand tonnes, marking a moderate decline of 6.1% compared to the previous year. Over the 2017-2020 period, production dropped by 13.9%, with an average annual decrease of 4.9%.

Annual dynamics of production in Thailand in kind, 2017-2020, K t

In value, 2017-2020, M $ US

Thailand's production value of semi-milled or wholly milled rice rose for the third consecutive year. In 2020, the output was valued at 10 277 million US dollars, representing a strong year-on-year increase of 10.8%. Between 2017 and 2020, production value grew by 26.3%, equivalent to an annualized rate of 8.1%.

Annual dynamics of production in Thailand in value, 2017-2020, M $ US

Exports semi-milled or wholly milled rice from Thailand

Exports in kind, K t

Thailand's exports of semi-milled or wholly milled rice declined for the third straight year. In 2020, export volume stood at 4 995 thousand tonnes, down 25.0% from the previous year. From 2017 to 2020, exports fell by 50%, averaging an annual decrease of 20.6%.

Annual dynamics of product's exports from Thailand in kind, 2017-2020, K t

From 2017 to 2020, Thailand's exports of semi-milled or wholly milled rice were spread across many partner countries. Benin accounted for 15.7% of exports, South Africa for 9.3%, and the Philippines for 5.5%, with these three together making up only 30.5% of total export volume.

Structure of product's exports in kind by countries, 2017-2020

World map of product's exports from Thailand in kind, 2017-2020

Exports in value, M $ US

Thailand's export value of semi-milled or wholly milled rice dropped for the second year in a row. In 2020, exports reached 3 312 million US dollars, showing a sharp decline of 11.5% over the past year. Over the 2017-2020 period, export value decreased by 26.7%, with an average annual fall of 9.8%. The highest value was recorded in 2018 at 5 029 million US dollars. The largest decrease occurred in 2019, at 25.6%, while the biggest increase was in 2018, at 11.3%.

Annual dynamics of product's exports from Thailand in value, 2017-2020, M $ US

Between 2017 and 2020, Thailand exported semi-milled or wholly milled rice to a wide range of markets. Benin represented 11.7% of export value, the United States 9.7%, and South Africa 7.5%, with these three countries together accounting for only 28.9% of total export value. Many smaller destinations made up the remaining 71.1%.

Structure of product's exports in value by countries, 2017-2020

World map of product's exports from Thailand in value, 2017-2020

Imports semi-milled or wholly milled rice to Thailand

Imports in kind, K t

Thailand's imports of semi-milled or wholly milled rice showed significant fluctuations during the period. Imports hit their lowest point in 2019 and peaked in 2020, with a 20-fold difference between these years. In 2020, import volume reached 21 thousand tonnes, surging by 1 943.2% year-over-year. The minimum volume was recorded in 2019 at 1 thousand tonnes, with the largest decline that year at 92.8%.

Annual dynamics of product's imports to Thailand in kind, 2017-2020, K t

From 2017 to 2020, Thailand's imports of semi-milled or wholly milled rice came from a diverse set of partners. Australia contributed 15.8% of import volume, Vietnam 14.3%, and China 7.0%, with these three together representing only 37.0% of total import flows.

Structure of product's imports in kind by countries, 2017-2020

World map of product's imports to Thailand in kind, 2017-2020

Imports in value, M $ US

Thailand's import value of semi-milled or wholly milled rice experienced notable volatility during the period. The minimum value was recorded in 2019 and the maximum in 2017, with a 15-fold variation between them. In 2020, import value totaled 14 million US dollars, reflecting a dramatic increase of 1 396.7% from the previous year. The lowest value was in 2019 at 1 million US dollars, with the largest decline that year at 92.4%.

Annual dynamics of product's imports to Thailand in value, 2017-2020, M $ US

Between 2017 and 2020, Thailand's import structure for semi-milled or wholly milled rice was balanced rather than concentrated. Australia accounted for 16.3% of import value, Pakistan for 9.5%, and Vietnam for 9.3%, with these three countries jointly representing 35.1% of total flows. Many other countries made up the remaining 64.9%.

Structure of product's imports in value by countries, 2017-2020

World map of product's imports to Thailand in value, 2017-2020