Thai Hom Mali is the most well-known rice in Thailand. In 2020, the year of the initial outbreaks, 1.19 million tons of Thai Hom mali rice
were exported, with milled rice accounting for 20.7% of that total. The largest export market for Thai Hom Mali rice was the United States (41.0%), followed by China (11.6%), Hong Kong (10.8%), and Canada (6.8%), all of which experienced declines in the first nine months of 2021. at 0.7 million tonnes, valued at USD 664.5 million, and declining by 16.5 and 32.5 percent YoY, respectively.
The reason for the decline in Thai Hom mali rice exports in 2021
- During the COVID-19 outbreak, the population’s purchasing power decreased, which had an impact on the demand for rice of the highest quality.
- More soft ground rice is now being consumed by consumers due to changing tastes.
- the tourism industry The food industry slowed down. As a result of the COVID-19 epidemic, many restaurants have shut their doors. Rice shipments are expected to rise in the last three months of the year. As a result, 2021 will see a 7.2 percent fall in the overall volume of jasmine rice shipped to 1.1 million tons.
Consumer demand trends 2022 – 2024
As the COVID-19 epidemic condition improves and the country becomes more accessible to tourists, the demand for domestic consumption of rice will progressively rise from 10.9 million tonnes in 2021 (25621/2021) to 11.0-11.5 million tonnes in 2024. The demand for rice as a raw material for food processing has increased as a result of the recovery of the food industry, including eateries, lodging facilities, food production, and other related industries.
The trend of rice exports in 2022 – 2024
Due to a rise in demand, rice exports are predicted to rise from 5.1 million tonnes in 2021 to 9.5 million tonnes in 2024. Given that prices are still expensive when compared to rivals like India and Vietnam, rice exports in 2022–2023 won’t be particularly big, according to the economies of trade partners.
How do rice vendors deal with consumer demand?
after the outbreak has passed For rice suppliers, meeting customer demand is a major challenge. Consumers believe that every dollar should be saved as a result of past experiences. side to deal with unforeseen circumstances Most consumers prioritize cost-cutting. But I still want high-quality, spotless rice. overcoming straightforward obstacles. By purchasing rice from Thai Lee Agriculture, Thailand’s leading rice exporter, you may purchase high-quality Thai Hom mali rice, which is made by a Thai rice factory using only the best raw materials from mills all around the nation. to produce and provide consumers with the greatest items selling high-quality, spotless, secure, fresh, and reasonably priced kinds of Thai rice.