Import Rice Prices from Thailand Rise at the Start of 2024, Highest in a Decade

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Adi Ahdiat 12/02/2024 13:20 WIB

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The price of Thai rice increased at the beginning of 2024, reaching its highest price in the last decade.

Average Monthly Price of Thai Rice (January 2014-January 2024)*

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Import Rice Prices from Thailand Rise at the Start of 2024, Highest in a Decade

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Average Monthly Price of Thai Rice (January 2014-January 2024)*

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Thailand was the largest supplier of imported rice to Indonesia in 2023.

At the beginning of 2024, the price of rice from the Land of a Thousand Pagodas surged to a new record high.

According to World Bank data, in January 2024, the average price of premium rice (5% broken rice) from Thailand reached US$660 per ton.

The price increased by approximately 2.5% compared to December 2023 (month-on-month), and surged by 27.7% compared to January 2023 (year-on-year).

The price of Thai rice at the beginning of this year was the highest in the last decade, as shown in the graph.

Not only in Thailand, but the Food and Agriculture Organization (FAO) also recorded a global increase in rice prices.

According to the FAO, in January 2024, the global rice price index increased by 1.2% (month-on-month).

"The increase in the global rice price index in January 2024 was largely influenced by the high rate of shipments from Thailand and Pakistan, as well as additional purchases from Indonesia," said the FAO in its February 2024 World Food Situation report.

Editor : Adi Ahdiat

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."