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

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.

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.

FAS Bangkok estimates Thailand’s chicken meat production to marginally increase in 2023 amid a surge in exports, a slow recovery in the tourism sector and high feed costs.

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

Despite the weakening of the Thai baht to a four-month low, rice export prices increased 1-3 percent as exporters sought rice supplies to fulfill contracted shipments.

Rice export prices decreased one percent due to the weakening of the Thai baht.

Rice export prices remain unchanged as most rice businesses are closed until next week due to the Thai New Year's holiday.

Sugar production recovered to normal levels between 10 and 11 million metric tons in MY2021/22 and will remain at those same levels in MY2022/23 due to high fertilizer costs and limited acreage expansion. The recovery in exportable sugar supplies will help boost raw and refined sugar exports in MY2021/22 and MY2022/23.

Rice export prices remain unchanged despite the strengthening of the Thai baht.