Source: Ukragroconsult (Ukraine)
Thailand rice exports suspended operations to the Middle East due to the escalation of the military conflict in the region. Moreover, this disruption has complicated maritime logistics and supplies. Bloomberg reported this, citing industry representatives.
Thailand Rice Exports Suspended: Immediate Impact
As Chukiat Ophaswongse, Honorary President of the Thai Rice Exporters Association, noted, two ships carrying approximately 80,000 tons of rice bound for Iraq were stopped at the port of Bangkok this week. Furthermore, the cargo was then unloaded and the products returned to warehouses. “Everything has essentially stopped. New purchases are also not happening because no one knows what will happen next,” he said.
Iraq Market and Strait of Hormuz Risk
According to the agency, Iraq will become the largest buyer of Thai rice in 2025. Specifically, it will account for approximately 12.7% of all shipments. The grain is transported to the country through the Strait of Hormuz. Additionally, the Thai bulk carrier Mayuree Naree was damaged this week in this area.
Export Forecast and Volume Decline
The country’s rice exports are forecast to fall by around 11% this year. Consequently, this will bring volumes to seven million tonnes, the lowest level in five years.