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Export prices declined 1 to 2 percent due to a lack of new inquiries and the weakening of the Thai baht.

Export prices remain unchanged as a result of the lack of rice trading during the year-end holiday season.

For over a decade, Peru has been one of the world’s top performing economies, registering sustained high growth accompanied by low inflation.

Peru’s food processing industry is a dynamic sector of the national economy. U.S.-origin food processing ingredient exports to Peru are forecast at $202 million in 2017.

Peru has established a new price band for rice that aims to increase importing costs. The new price band uses changes the reference price from Thai to Uruguayan rice prices.

Peru’s food retail sector sales will rebound in the medium-term, benefiting from government stimulus measures seeking to boost consumer spending.

Peru’s international recognition as a gastronomic hub has created opportunities to introduce complementary food products into the market.

Thailand has enacted several new regulations that restrict imports of feed and feed ingredients containing certain animal proteins.

White and parboiled rice export prices declined 1 percent from the previous week while fragrant rice prices increased by 1 to 2 percent.

Rice export prices did not change, except for fragrant rice prices which increased by 3 percent.

Peruvian rice producers are demanding that the government reinstate import duties for rice.

Thailand’s regulations restricting the cultivation of genetically engineered crops remain unchanged.