△Thai Jasmine Rice product at the CAEXPO.

Thailand"s rice exports surged 18.48 percent year on year to 2.06 million tonnes in the first quarter of 2023 as demand from Asian and African markets increased, official data showed Monday.

The country earned 38.06 billion baht (1.11 billion U.S. dollars) in revenue from rice shipments during the January-March period, up 29.3 percent from a year earlier, according to the Ministry of Commerce.

Iraq was the top importer of Thai rice, accounting for 16.4 percent of the total exports, followed by Indonesia, the United States and South Africa, said Ronnarong Phoolpipat, director-general of the ministry"s foreign trade department.

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Ronnarong attributed the surge in rice exports to sustained demand from Asian and African nations as those buyers fulfilled their domestic needs and maintained food security.

Thai rice is expected to see competitive prices in the coming months as the output from the off-season harvest is set to hit the market in March and April, Ronnarong said.

According to the Ministry of Agriculture and Cooperatives, Thailand"s rice production is expected to rise this year due to a sufficient water supply for cultivation.

As one of the world"s major rice exporters, Thailand in March raised its rice export target this year to 8 million tonnes, up from a previous target of 7.5 million tonnes, due to higher rice output.

Source: Xinhua

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