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- (-) March 2024
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Rice export prices further declined 1-3 percent due to the weakening of the Thai baht against the U.S. dollar and the downward price pressure from the new MY2023/24 off-season rice supplies.
FAS Bangkok forecasts Thailand’s rice and corn production to marginally increase in MY 2024/25 along with expanded acreage in response to current attractive farm-gate prices. In 2025, Thailand will likely export 7.5 million metric tons of rice or well above its 5-year average.
Rice export prices dropped 2-3 percent as the Thai baht weakened and new MY 2023/24 off-season rice supplies entered the market.
Rice export prices stayed virtually unchanged as the strengthening of the Thai baht offset the downward price pressure from new off-season MY 2023/24 rice supplies entering the market.
In 2023, Ukraine's cattle inventory and beef production remained on a three-decade-long downward trend. The decrease in consumer numbers and comparatively high beef prices resulted in a domestic consumption drop and increased exports of both live cattle for slaughter and beef.
Rice export prices increased 1-2 percent due to the strengthening of the Thai baht and the demand for white rice from Indonesia.
From February 23, 2024, U.S. wines can access the Thai market duty-free and with lower excise taxes.
Rice export prices remain unchanged as the downward price pressure from the new supplies of white rice offsets the strengthening of the Thai baht.