The Bank of Ghana restricted access to foreign exchange for a select list of imported products, including rice, poultry, vegetable oils, and pasta, among other items, to implement a directive from the President of Ghana.
Post forecasts Burmese rice exports lower in November. Despite the contracted shipment to Bangladesh, slow demand from African countries and high domestic prices will lead to lower exports in November. Domestic prices for Emata increased in November as local traders are purchasing stock in anticipation of a lower production. Prices for Shwe Bo Pawson also remained high.
On September 8, 2021, the Indian government raised its minimum support prices (MSP) for the select rabi (winter-planted) crops, including wheat. FAS New Delhi (Post) forecasts marketing year (MY) 2022/2023 (October-September) rice production at 122 million metric tons (MMT), down six percent compared to last year, due to unseasonal rains in October resulting in water lodging as the rice crop nears harvest.
FAS/Bangkok (Post) revised down MY2022/23 rice production slightly to 19.9 MMT due to flood damage on main-crop rice production. MY2022/23 corn production and imports, as well as wheat imports, remain unchanged from the previous forecast.
For marketing year (MY) 2022/23, Post's forecast for rice harvested area and production remain unchanged at 11.5 million hectares and 35.65 million metric tons (MT), the same as the USDA official forecasts. Post's wheat production forecast in MY 2022/23 also remains unchanged from Post's previous projection.