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The strengthening of the Thai baht and strong export demand pushed export prices of Thai rice slightly higher.

Export prices of Thai rice dropped 1-2 percent due to the weakening of the Thai baht and limited trading during the Thai New Year’s holiday.

Sugar production in MY2022/23 and MY2023/24 is still far below record production levels due to reduced sugarcane acreage.

Export and domestic prices of Thai rice increased two percent due to strong export demand for Thai rice and the strengthening of the Thai baht.

FAS Bangkok (Post) expects soybean imports to rebound in Marketing Year (MY) 2022/23 and further increase to around 4 million metric tons in MY2023/24, driven by strong demand for poultry and swine feed.

Rice export prices remained unchanged as higher domestic rice prices offset the depreciation of the Thai baht.

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

Export prices of most grades of rice remained unchanged despite the strengthening of the Thai baht.

Export prices of white rice increased one percent despite the weakening of the Thai baht.

Rice export prices remained unchanged from previous week.

This guide serves as a resource for U.S. companies seeking to do business in Thailand and provides market overviews, practical tips and information on local business practices, consumer preferences and trends.

Rice export prices decreased 1-2 percent due to the weakening of the Thai baht against the U.S. dollar that offset the upward pressure on current domestic prices of paddy rice.