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In 2024, Brazil recorded extreme weather events including the intensification of heat waves in several regions. Although the impacts of the fire outbreaks in the sugarcane production are difficult to estimate, the losses caused directly by the fires should not affect Brazil´s total sugar production in the MY 2024/25.

FAS/Bangkok (Post) forecasts MY 2024/25 sugar production to increase to 10.2 MMT. MY 2023/24 sugar exports are likely to decline 26 percent due to competition from Brazil. Post expects sugar exports to double in MY 2024/25 from MY 2023/24 in anticipation of tight exportable sugar supplies in the major exporting countries.

The Brazilian economy grew 2.9 percent, largely supported by household consumption, which improved by 3.1 percent in 2023. Low unemployment (7.9%) and inflation (4.6%) were two major drivers for this outcome.

Rice export prices further dropped 1-6 percent from the previous week in response to the removal of India’s rice export ban, despite the strengthening of the Thai baht.

This report provides an overview of Thailand’s food retail sector along with the latest market updates. Thailand's retail industry continued to evolve and improve, driven by increasing consumer demand for convenience.

Rice export prices further dropped 2-6 percent from the previous week despite a strengthening of the Thai baht to a 19-month high.

Rice export prices further dropped one percent from the previous week.

Rice export prices dropped 1-3 percent from the previous week despite the strengthening of the Thai baht.

Rice export prices increased 1-6 percent from the previous week despite the weakening of the Thai baht against the U.S. dollar.

Post revised up Brazil’s MY 2024/25 cotton production forecast to 16.6 million 480lb bales (3.6 million metric tons (MMT)), an 11 percent increase compared to the previous MY. The main drivers behind this record output are a forecasted area increase (revised up to 1.94 million hectares), and better-than-anticipated yields across key producing states.

FAS Bangkok (Post) expects chicken meat production to increase slightly in 2024 due to limited supplies of day-old chicks and the slow recovery in domestic consumption amid strong export demand.

Brazil is the world’s second-largest ethanol and third-largest biodiesel producer but has yet to introduce renewable diesel or sustainable aviation fuel. Post forecasts total ethanol production at 32.5 billion liters in CY 2024, with cane ethanol forecast at 25.5 billion liters and corn ethanol production at seven billion liters.