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Export prices were virtually unchanged from the previous week. The Government will issue a new public tender for non-food grade rice for industrial use by the end of November.

Pakistan’s MY 2015/16 (August-July) cotton production is expected to reach 8.2 million 480 lb bales, down nearly 25 percent from last year’s crop.

Despite the weakening Thai baht, export prices increased 1 percent as G-to-G agreement with Indonesia has been signed and shipments are beginning immediately.

Continued growth in Thailand livestock and poultry sectors is fueling larger-than-expected growth in soy protein demand.

Pakistan continues to expand its imports of soybeans, importing over 500,000 metric tons in 2014/15 (a record), with projected 2015/16 imports of 1.5 million metric tons.

Export prices declined around 1 percent due to quiet trading activities. Thai and Chinese Governments have finalized the delivery details of the 8th shipment under the 2014 G-to-G agreement.

Water restrictions for MY2015/16 off-season rice remain in place as current water supplies available for all uses are far below 2014.