The Ministry of Commerce has revealed that although Thai rice exports in the first half of 2026 declined, the full-year target of 7 million tonnes remains intact, supported by rising import demand to stockpile reserves in response to the El Niño phenomenon. Mrs. Arada Fuangtong, Director-General of the Department of Foreign Trade, stated that in the first six months, Thailand exported approximately 3.28 million tonnes of rice, down 18.81 percent, worth over 1.911 billion US dollars, a drop of 20.51 percent from the same period last year, due to high global rice supply and price competition, as well as a halt in exports to Iraq since March. The department sees potential in alternative markets such as Malaysia, the Philippines, South Africa, the Democratic Republic of the Congo, and Mozambique, where imports from Thailand have increased, and will accelerate government-to-government rice trade negotiations with COFCO of the Chinese government, while leading a delegation to meet key importers in the Philippines and Malaysia between August 2 and 6 to push exports toward the target.
COFCO Engineering & Technology Co LtdArticle mentions accelerating government-to-government rice trade negotiations with COFCO, potentially increasing demand for COFCO's engineering services.
El Niño-driven demand surge and maintained export target suggest tighter supply, supporting rice futures prices.
