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Rice export prices increased slightly due to the strengthening of the Thai baht.

Australia is set for a third consecutive record grain crop, and strong exports. Wheat production is estimated to have reached a record 37 million metric tons (MMT) in marketing year (MY) 2022/23, while barley is estimated to achieve 13.5 MMT of production, the fourth largest on record.

Corn production in MY2022/23 is revised up slightly based on National Bureau of Statistics data indicating a better harvest in the North China Plain which more than offset smaller yields in the northeast.

Rice export prices rose 2-5 percent higher due to exporters’ concerns about the strengthening of the Thai baht.

Rice export prices increased 4-6 percent due to the strengthening of the Thai baht.

Quotations are not available this week due to the New Year’s holiday.

U.S. agricultural exports to China in fiscal year (FY) 2022 were $36.4 billion and surpassed the previous year’s record with China as the largest export market for the second consecutive year. Significantly higher agricultural prices and resilient demand helped drive exports above the previous year’s record despite lower volumes for most products.

Post revises its estimates of the marketing year (MY) 2021/22 paddy harvest area and production down to 7,185 thousand hectares (THA) and 42.83 million metric tons (MMT) on unfavorable weather conditions and high input costs.

This report provides trade data on Vietnam's monthly rice exports by grade and destination and weekly export quotes for rice by grade.