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FAS Manila maintains its September 2023 forecast for rice and corn production and imports, but lowers its forecast slightly for wheat imports to 6.0 million metric tons.

Post slightly lowers the MY 2023/24 rice production forecast due to some minor aman season crop damage caused by a cyclone. Despite the reduced production, Post lowers the rice import forecast to 500 thousand MT, as the Government of Bangladesh maintains its high rice import tariff of 62.5 percent.

Rice export prices increased 1-2 percent due to the strong demand for Thai rice and the strengthening of the Thai baht.

No significant changes are made to 2023/24 rice and wheat supply and demand forecasts. Private sector wheat import commitments of about 1.4 million tons underpin the 2 million ton 2023/24 wheat import forecast.

The steady demand for Thai rice from ASEAN countries slightly boosted rice export prices and offset the weakening of the Thai baht.

On December 7, 2023, the Ministry of Agriculture and Rural Affairs (MARA) announced the registration of 51 genetically engineered (GE) corn and soy varieties, including 37 GE corn varieties and 14 GE soybean varieties.

Planting of India’s rabi season (i.e., winter sown, spring harvested) crops is progressing somewhat slower than anticipated due to relatively dry soil moisture conditions.

Rice export prices increased 2-4 percent as the Thai baht strengthened and new crop rice harvesting was nearly completed.

Extreme weather conditions across the EU reduced grain production projections in MY 2023/24, although production is still anticipated to exceed MY 2022/23 levels. EU grain export expectations have deteriorated based on third country competition in...

On August 23, 2023, the Philippine Department of Agriculture issued Memorandum Circular No. 37 (2023), an Addendum to the Bureau of Animal Industry Memorandum Circular No. 26 (2021), which requires traders to submit a Feed Utilization Report and...

Economic slowdowns in Indonesia’s export destination countries negatively affected its imports and consumption of wheat. Wheat imports for 2022/23 are revised down to 9.446 million metric tons (MMT) from the previous estimate of 9.526 MMT, reflecting...

Rice export prices increased 2-5 percent as the Thai baht strengthened.