Rice exports from Thailand are recovering thanks to strong supply and competitive prices, according to a report by the US Department of Agriculture's Foreign Agricultural Service (FAS).

Exports reached 8.8 million tonnes, a 14% increase from the previous year. However, exports in 2023-24 are expected to fall to 8 million tonnes as there is more raw material in Cambodia and Vietnam.

Production in 2023-24 is estimated at 19.9 million tonnes, down 5% from 2022-23 due to a combination of dry spells and flood damage.

Wheat imports for 2023-24 were revised upwards to 3 million tonnes, but are still 5% below the forecast for 2022-23. Rising demand for feed wheat imports will not offset a slow recovery in bread wheat demand , FAS said.

Feed mills switched to feed wheat for poultry and hogs in response to high corn prices.

Bread wheat imports are up 29% in the first five months of 2023-24 as the tourism sector continues to recover from the pandemic.