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Vietnam offers abundant opportunities for exporting consumer-oriented products, despite the challenges of recovering from the COVID-19 pandemic and dealing with high inflation. The Vietnamese economy is poised for significant expansion in the coming decades. With a burgeoning population and a growing middle class, Vietnamese consumers are becoming more discerning about the origin and composition of their food.

Rice export prices increased 2-3 percent due to strong demand for Thai rice and the strengthening of the Thai baht.

MY 2024/25 sugar production is expected to recover from a 20 percent slump in MY 2023/24. Sugar consumption growth will likely decelerate in MY 2023/24 and MY 2024/25, following Thailand’s slow economic recovery and shrinking sugar demand by non-alcoholic beverage manufacturers due to the progressive sugar tax.

Rice export prices slightly increased despite the further weakening of the Thai baht.

Rice export prices increased one percent as exporters are securing rice supplies to fulfill contracted shipment despite the weakening of the Thai baht.

Rice export prices increased one percent due to the strengthening of the Thai baht that outweighed the downward pressure on domestic rice prices.

Thailand's food and beverage industry contributes significantly to the country's economy. Thailand aims to be one of the world's top ten processed food exporters by 2027 and a key global player in the "Future Food" market.

Due to a slight increase in cane area and production, sugar production in 2024/25 is forecast to reach 6.8 million tons, 3 percent higher than 2023/24. In line with population growth and demand from the food processing sector, continued moderate growth in sugar consumption is forecast.

MY 2023/24 and MY 2024/25 soybean crush will be well below the five-year pre-pandemic average annual growth due to a slow economic recovery.

Rice export prices dropped another 1-2 percent this week.

Given record area and prospects for good yields, wheat production in 2024/25 is forecast to be a record 28.8 million tons. Due to an anticipated increase in area, 2024/25 rice production is also forecast to set a record.

While there is still considerable uncertainty regarding implementation, in January 2024 the government approved a system allowing for the resumption of genetically engineered commodity imports.