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The MY2018/19 rice production forecast is revised up to 21.2 million metric tons, a 4 percent increase from MY2017/18 due to larger than expected main crop fragrant rice acreage.
MY2018/19 rice and corn production are expected to reach record highs due to acreage expansion driven by attractive farm-gate prices.
MY2017/18 corn production is revised up to 5 million metric tons which is 4 percent lower than production in MY2016/17.
The forecast for MY2017/18 main crop rice production is revised down slightly due to higher than expected flooding damage to fragrant rice.
MY2017/18 rice and corn production is minimally affected by flooding during July – August 2017.
MY2016/17 rice and corn production is well underway due to favorable precipitation.
MY2017/18 cultivation for main-crop rice and corn is occurring much sooner than MY2016/17 cultivation due to favorable rainfall and sufficient reservoir levels.
The recovery of MY2016/17 and MY2017/18 rice production as well as the sale of government rice stocks should maintain Thai rice export competiveness in 2017 and 2018.
MY2016/17 rice and corn production is likely to increase significantly due to the recovery of off-season production. Feed wheat and DDGS imports face additional trade barriers.
The majority of main-crop rice and corn supplies have entered the market creating downward pressure on farm-gate prices.
MY2016/17 rice and corn crops are in good condition despite the planting delay as precipitation has returned to normal.
The sowing of the MY2016/17 main-rice crop is progressing slowly due to limited irrigated water supplies.