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Thailand is actively seeking to boost its rice exports to the Philippines, anticipating increased demand due to a projected rise in the country's rice imports to 4.1 million tonnes in 2024.
The Thai Rice Exporters Association has noted a significant 388% increase in rice shipments to the Philippines during the first half of 2024, driven by supply shortages and a weaker Thai baht, which allows for more competitive pricing. As Thailand aims to secure a larger market share, it has signed agreements to supply at least 130,000 tonnes of rice for the remainder of the year, competing closely with Vietnam, which has traditionally dominated the Philippine rice market.
Citations:
[1] https://borneobulletin.com.bn/thailand-aims-to-boost-rice-exports-to-philippines/
[2] https://www.nationthailand.com/business/economy/40040264
[3] https://www.nationthailand.com/business/trade/40039555
[4] https://www.thestar.com.my/aseanplus/aseanplus-news/2024/04/14/thailand-to-make-a-strong-bid-as-philippine-rice-imports-set-to-increase
[5] https://en.vietnamplus.vn/vietnam-thailand-vie-for-larger-rice-market-share-in-philippines-post291327.vnp
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