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Export and domestic prices of Thai rice increased one percent due to the strengthening of the Thai baht

Milled rice production for MY 2023/24 is projected at 1.2 million metric tons (MMT) an 11 percent increase from MY 2021/22. Post projects milled rice production for MY 2022/23 at 1.1 MMT, a 3 percent increase from MY 2021/22.

FAS New Delhi's (Post) market year (MY) 2023/2024 wheat production forecast is raised to a record 110 million metric tons (MMT) on reported higher-than-earlier expected yields despite some weather incidences.

Export prices of Thai rice increased 1-2 percent due to the strengthening of the Thai baht and the upward pressure on domestic rice prices.

The 2022 U.S. Agricultural Export Yearbook provides a statistical summary of U.S. agricultural commodity exports to the world during the 2022 calendar year.

Rice import for MY 2023/24 is forecast to increase by 4 percent as flooding curbs domestic production and increases imports.

The strengthening of the Thai baht and strong export demand pushed export prices of Thai rice slightly higher.

In Japan Fiscal Year 2022, Japan's Ministry of Agriculture, Forestry and Fisheries (MAFF) awarded 677,714 metric tons of rice through the Minimum Access import system.

After a record setting winter crop in marketing year (MY) 2022/23, Australia is expected to produce a more subdued, but still strong grain crop in MY 2023/24.

Post estimates Argentine wheat production to rebound to 19.5 million metric tons (MMT) in marketing year (MY) 2023/24, resulting in wheat exports of 13.7 MMT (including wheat flour as its wheat equivalent).

For the region that includes Senegal, Guinea, Burkina Faso, and Mali, rice area harvested and production for MY2023/24 is forecast up 1.2 and 2 percent year-over-year, respectively.

Export prices of Thai rice dropped 1-2 percent due to the weakening of the Thai baht and limited trading during the Thai New Year’s holiday.