Capital Rice
Capital Rice is one of the top-tier private Thai rice exporters, consistently ranked among the top-five Thai rice traders by export volume. Operates milling and packaging facilities, exports Thai jasmine (Hom Mali), white rice, parboiled, and broken rice to ASEAN, African, and Middle Eastern markets. Member of the Thai Rice Exporters Association. Operates within the Thai-rice-export oligopoly alongside Asia Golden Rice, CP Intertrade, and CR Asahi.
Profile overview
Capital Rice is one of the top-tier private Thai rice exporters, consistently ranked among the top-five Thai rice traders by export volume. Operates milling and packaging facilities, exports Thai jasmine (Hom Mali), white rice, parboiled, and broken rice to ASEAN, African, and Middle Eastern markets. Member of the Thai Rice Exporters Association. Operates within the Thai-rice-export oligopoly alongside Asia Golden Rice, CP Intertrade, and CR Asahi.
Operations footprint
Milling and processing
Multi-location rice mill network
Capital Rice operates milling, sorting, and polishing facilities primarily in Central Thailand and the Northeast (Isan), sourcing paddy from Thailand's major rice-producing basins. Processing capabilities include jasmine rice (Hom Mali) quality-grading, parboiling, and broken-rice separation. Annual milling capacity estimated at 200,000-400,000 metric tonnes.
Export markets
ASEAN, Africa, Middle East focus
Export destinations span ASEAN (Philippines, Indonesia, Malaysia), African markets (Senegal, Ghana, Ivory Coast, South Africa), and Middle Eastern importers (UAE, Saudi Arabia). Thai jasmine (Hom Mali) targets premium markets in Southeast Asia and the diaspora retail segment; lower grades (white rice, broken rice) supply commodity-volume markets in Africa.
Product range
Jasmine, white, parboiled, broken rice
Core product line: Thai Hom Mali (premium jasmine, 100% whole grain), Thai white rice (5% broken, 25% broken grades), parboiled rice (vitamin-fortified for African aid and retail programmes), and broken rice (food processing, brewing, feed). Capital Rice can shift mix between grades depending on paddy price and export demand.
Trade association membership
Thai Rice Exporters Association (TREA)
Capital Rice is a full member of the Thai Rice Exporters Association, participating in government-export-quota allocation, G2G (government-to-government) sale programme eligibility, and industry price-reference coordination. TREA membership enables bidding on Thai government rice export tenders and qualifying for export BOI incentives.
Top Thai rice exporter comparison
FY2024 estimates. Sources: TREA, Thai Customs, USDA.
Type
Private
Est. volume share
~6-9%
Primary markets
Jasmine, white, Africa, ASEAN
Riceland International
| Exporter | Type | Est. volume share | Primary markets |
|---|---|---|---|
| CP Intertrade (CPF) | CP Group / listed | ~10-12% | Premium jasmine, ASEAN, US |
| Asia Golden Rice | Private | ~8-10% | White rice, Africa, ME |
| Capital Rice | Private | ~6-9% | Jasmine, white, Africa, ASEAN |
| CR Asahi (Charoen Pokphand) | CP-affiliated | ~6-8% | Parboiled, various |
| Riceland International | Private | ~5-7% | Export trading |
Key drivers 2025-2026
India export ban impact
Thai rice pricing and market share
India's export ban on non-basmati white rice (implemented 2023, partially lifted 2024) removed approximately 20-25% of global supply temporarily, lifting Thai Hom Mali prices by approximately USD 100-150 per tonne. Capital Rice and other Thai exporters captured incremental market share in African and Middle Eastern markets that India previously dominated.
THB exchange rate
USD-denominated export revenue
Rice exports are USD-denominated; Thai baht appreciation against the US dollar directly compresses mill-gate realisations in THB. FX risk management (forward sales, natural hedging via USD-cost feedstock) determines actual margin. A 5% baht appreciation reduces export revenue in THB terms by approximately 3-5%.
El Nino drought cycle
Paddy crop volume and quality
Thailand's 2023-2024 El Nino drought reduced main-crop paddy output by approximately 5-10% in Central and Northeast Thailand — tightening milling input costs. Paddy procurement price affects milling margins directly; watch OECD-FAO and Thai Meteorological Department seasonal forecasts as leading indicators for procurement cost outlook.
Where this profile is featured
Reports that reference this entity in their operator concentration or analysis.
Featured in
Inside Thai Rice Mills: Isan Anchor, Crop-Cycle Mechanics, and the ...
Major Thai rice mill and exporter.
Featured in
Thai Broken-Rice and Second-Grade Export Economics
Top private Thai rice exporter; consistently top-five exporter by volume in Thai jasmine and white-rice trade.
Featured in
Thai Paddy-Rice Millers and the Export-Policy Cycle
Top private Thai rice exporter; consistently top-five exporter by volume in Thai jasmine and white-rice trade.
Related Market profiles
Peers, parents, partners, agencies, and other Rice & Grain actors.
Competitor
Asia Golden Rice
Top private Thai rice exporter; Hom Mali, white, parboiled; TREA top-ranked.
Open Market profile →
Competitor
Ponglarp
Private Thai rice exporter; African, Middle East parboiled focus.
Open Market profile →
Competitor
CP Intertrade
CP Group's rice export arm; Royal Umbrella, Tra Chang retail brands; vertically integrated with 7-Eleven distribution.
Open Market profile →
Sector peer
CR Asahi
Private top-tier Thai rice exporter; Hom Mali, white, parboiled; African, Middle East destination strength.
Open Market profile →
Reports featuring this profile
Inside Thai Rice Mills: Isan Anchor, Crop-Cycle Mechanics, and the Export-Quota Game
Major Thai rice mill and exporter.
Open report →
Sits alongside 5 other Atlas profilesThai Broken-Rice and Second-Grade Export Economics
Top private Thai rice exporter; consistently top-five exporter by volume in Thai jasmine and white-rice trade.
Open report →
Sits alongside 5 other Atlas profilesThai Paddy-Rice Millers and the Export-Policy Cycle
Top private Thai rice exporter; consistently top-five exporter by volume in Thai jasmine and white-rice trade.
Open report →
Sits alongside 4 other Atlas profilesRelated Market profiles
competitor
Asia Golden Rice
Top private Thai rice exporter; Hom Mali, white, parboiled; TREA top-ranked.
competitor
Ponglarp
Private Thai rice exporter; African, Middle East parboiled focus.
competitor
CP Intertrade
CP Group's rice export arm; Royal Umbrella, Tra Chang retail brands; vertically integrated with 7-Eleven distribution.