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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.

The cotton production forecast for 2024/25 has been revised downward to 5.2 million bales, with the area unchanged at 2 million hectares.

Export prices of white and parboiled rice rose one percent from the previous week as exporters reportedly continued to secure the rice supplies to fulfill contract shipments.

Rice export prices dropped 1-3 percent from the previous week as the weakening of the Thai baht and the new crop MY 2024/25 paddy rice entered the market.

The Thai government has made significant progress in addressing food security and climate change challenges by advancing its biotechnology regulatory landscape. Recognizing the benefits of genome editing technology as a key driver for enhancing the competitiveness and value of the agricultural sector, Thailand has taken a major step forward.

Rice export prices dropped one percent from the previous week despite the strengthening of the Thai baht.

After the 2023 outbreak of bluetongue disease in Europe, the bluetongue virus (BTV-3) has now spread to three Nordic countries. Denmark encountered the first case of bluetongue disease on August 9, Norway on September 6, and Sweden on September 12.

In 2024, the Pakistan government issued revised Biosafety Rules and Regulations, creating a system to request genetically engineered (GE) commodity imports for food, feed, and processing (FFP). As of mid-October 2024, importers had submitted several applications to import GE soybeans for FFP.

Rice export prices dropped 1-5 percent from the previous week due to the weakening of the Thai baht and India’s removal of all export restrictions on non-Basmati white rice and on parboiled rice.

Rice export prices increased 2-8 percent from the previous week as exporters reportedly continued to secured rice supplies to fulfill contract shipments.

Rice export prices further dropped 3-4 percent from the previous week, except for fragrant rice prices.