BANGKOK, THAILAND — Thailand is forecast to export 8 million tonnes of rice in the 2021-22 marketing year, up 31% from the previous year, according to a Global Agricultural Information Network report from the Foreign Agricultural Service of the US Department of Agriculture (USDA).

Attractive Thai prices, driven by the weakening of the Thai baht, are the reason for the sharp increase in exports, the report said.

Rice production is projected to increase year-on-year from 18.8 million tonnes to 20.8 million tonnes, the USDA said.

The report noted that the country’s wheat imports are expected to decline by 13% in 2021-22.

Reduced domestic demand for milling and feed wheat due to a slow economic recovery from the prolonged COVID-19 pandemic and high import prices for feed wheat are the primary reasons for the decline.

An even sharper drop in corn imports is expected, as the USDA forecasts a 17% decrease due reduced demand for swine feed caused by the African swine fever outbreak.

“Post forecasts swine feed demand to decline by 30%, in line with swine production shrinking from 19 to 20 million heads to 12 million to 13 million heads,” the USDA said.