1、 2566THAILAND INDUSTRY OUTLOOK 2023-25Rice IndustryKrungsri ResearchJune 2023Subscribe UsAuthorChaiwat SowcharoensukSenior AnalystC+662 296 0000 Ext.50880All material presented in this report,unless specifically indicated otherwise,is under copyright to Krungsri Research.None of the material,nor its

2、 content,nor any copy of it,may be altered in anyway,or copied to any other party,without the prior express written permission of Krungsri Research.This document is based on public information believed to be reliable.Nevertheless,Krungsri Research would not affirm the accuracy and completeness of th

3、is information.We accept no liability whatsoever for any direct or consequential loss arising from any use of this document or its content.Information,opinions and estimates contained in this report are our own,which are not necessarily the opinions of Bank of Ayudhya Public Company Limited and its

4、affiliates.It reflects a judgment at its original date of publication by Krungsri Research and are subject to change without notice.DisclaimerFor research subscription,EXECUTIVE SUMMARYDomestic rice outputs are likely to dip slightly over 2023-2025 due to the likely emergence of El Nio conditions an

5、d a resulting decline in the volume of rain and the availability of irrigation water.Outputs will also be hurt by high operating costs,despite ongoing government support for the agricultural sector.However,domestic demand is expected to rise over the next few years on stronger demand from restaurant

6、s,hotels,and the food industry as well as downstream industrial consumers,most obviously food processors.Exports are also forecast to expand on a combination of rising purchasing power in overseas markets and continuing worries over food security due to the extension of the war in Ukraine.This combi