Thailand's rice exports are set to fall this year as exporters face currency fluctuations, stiff competition from other producers and falling demand from major buyers, a Thai exporters group said.

Exports this year will fall 24% to 7.5 million tonnes from 9.95 million tonnes last year, the Thai Rice Exporters Association said in a statement on Wednesday.

Thailand's rice exports are expected to be worth 150 billion baht ($4.8 billion), the group said.