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Export and domestic prices of Thai rice increased one percent due to the strengthening of the Thai baht and strong demand for Thai rice.

The report provides information on the regulations and procedures for the importation of food and agricultural products from the United States to Singapore.

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

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.

This report discussed food and agricultural export product certificates currently required by the Singapore Government.

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

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.

Most raw materials for food processing are imported into Singapore due to its limited land, natural resources, livestock, and agricultural production. Singapore imported $1.2 billion of U.S. processed food products in 2022, which was a 9% increase compared with 2021.

Sugar production in MY2022/23 and MY2023/24 is still far below record production levels due to reduced sugarcane acreage.

Export and domestic prices of Thai rice increased two percent due to strong export demand for Thai rice and the strengthening of the Thai baht.

FAS Bangkok (Post) expects soybean imports to rebound in Marketing Year (MY) 2022/23 and further increase to around 4 million metric tons in MY2023/24, driven by strong demand for poultry and swine feed.

Rice export prices remained unchanged as higher domestic rice prices offset the depreciation of the Thai baht.