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Rice export prices dropped from the previous week.

Thailand’s foodservice is expected to grow by 7 percent this year with the market size of $32.85 billion, supported by store expansion and a recovery in tourism sector.

Export prices of most grade of rice dropped from the previous week due to the weakening of the Thai baht, except for fragrant rice prices.

The report outlines the Department of Livestock Development's regulation on the criteria, methods, and conditions for certifying animals developed using genome editing technology. This regulation enables Thailand to access new animal breeds, enhancing the country's ability to improve livestock production and address challenges related to food security and sustainable agriculture.

Export prices rose one percent from the previous week. Thai rice exports during January to October 2024 were up 20 percent from the same period last year.

Export prices rose from the previous week due to the strengthening of the Thai baht and demand for new-crop rice supplies ahead of the holidays.

The Thai Food and Drug Administration announced on November 29, 2024, that it has repealed the requirement for certification of copies of verifiable export certificates for imported foods, including fresh fruit and vegetable shipments, into Thailand.

FAS Bangkok forecasts Thailand’s rice and corn production to increase in MY 2024/25 in response to improvement in average yield due to higher water supplies, compared to MY 2023/24.

Export prices rose 1-3 percent from the previous week as the Thai baht strengthened and exporters continued to secure the rice supplies to fulfill contract shipments.

FAS/San José expects orange production to increase approximately 11 percent in marketing year (MY) 2024/25 to 250,000 metric tons. Production in MY 2023/24 was lower than previously expected at 225,000 metric tons as a result of erratic rainfall patterns associated with the El Niño weather phenomenon.