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Thailand’s export prices fell a further one percent as the Thai baht continues to weaken.

Post maintains its estimate of Algeria’s wheat plated area at just over 2 million hectares for the entire country. For the MY 2024/25, Post projects production for wheat and barley to remain in line with the current MY of 2.7 million MT of wheat and 1.02 million MT of barley.

Based on the export pace through the first 10 months of the year, the 2022/23 rice export estimate is reduced from 3.7 to 3.4 million tons.

Corn, rice, and sorghum production forecasts for marketing year (MY) 2023/2024 are increased, while wheat production is forecast lower based on less planted area.

FAS Manila expects rice imports to decline to 3.5 million MT as high prices in the international market and price ceilings ordered by the President disincentivize imports.

In response to wheat prices that have surged in recent months and to build stocks, the Government of Morocco introduced a support program for the import of 2.5 million MT of common wheat.

Thailand’s export prices fell a further one percent as the Thai baht continues to weaken.

India, the world’s largest rice exporter, disrupted global rice markets by banning white rice exports in July 2023, before placing an export tax on parboiled rice exports in August 2023.

Thailand’s domestic and export prices dropped 1-3 percent in response to reduced demand and a further weakening of the Thai baht.

On August 25, 2023, India’s Ministry of Finance issued Notification No. 49/2023 (Customs), notifying with immediate effect that the Indian government is imposing a 20 percent export duty on parboiled non-basmati rice (PNB), harmonized tariff system (HS) code 1006.30.10.

Thailand’s domestic and export prices grew 1-3 percent as demand for Thai rice surges in response to rice export bans by India and Burma.

Reflecting strong demand for Thai rice, domestic and export prices grew 1-3 percent this week.