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Rice export prices increased 2-3 percent due to the strengthening of the Thai baht which offset the downward pressure on domestic rice prices.
Post forecasts MY2022/23 cotton imports to increase 4 percent but remain well below the 5-year average annual import demand from MY2017/18 – MY2021/22 in anticipation of slow economic recovery in 2023.
Indonesia palm oil production for 2023/24 is forecast at 46 million metric tons (MMT), an increase of 3 percent from the previous year.
Post forecasts that MY2023/24 rice production will reach a five-year record of 20.4 million metric tons due to abundant water supplies and attractive farm-gate prices.
Rice export prices decreased 1 percent as new supplies of MY2022/23 off-season rice continued entering the market.
Post forecasts that consumption and imports of corn, wheat and rice in Malaysia will slightly increase in Marketing Year (MY) 2023/24, in line with population growth and normalization of the market.
This monthly report includes information on U.S. and global imports of dairy products, including maximum quantities that can be imported under tariff-rate quota licensing.
Rice export prices increased 1 percent.
Rice export prices declined 1-2 percent due to the weakening of the Thai baht.
Thailand has witnessed tremendous e-commence growth over the past three years. Online grocery services have become one of the fastest-growing e-commerce categories in the country.
Rice export prices declined 2-5 percent due mainly to the weakening of the Thai baht.
Rice export prices declined 2-5 percent as new supplies of MY2022/23 off-season rice entered the market.