Thailand's agricultural price index fell 2.43% last month.

According to Thailand's "World Daily" reported on November 17, Thailand's Agricultural Economic Office Secretary-General Abhisit revealed that in October this year, the agricultural product price index was 127.4, down 2.43% year-on-year and 0.47% month-on-month. This was mainly due to the abnormal increase in agricultural prices last year as a whole, coupled with the decline in prices of most of the major commodities driving the agricultural price index upward, such as early rice, late rice, corn feed, cassava and white shrimp. However, prices of a number of agricultural products were higher than last year, including jasmine rice, glutinous rice, palm oil, rubber, pork, chicken and eggs.

The agricultural output index for October this year was 91.46, up 1.49 percent year-on-year but 13.05 percent month-on-month. The main agricultural products with increased yields were late rice, corn feed, palm oil, chicken and eggs. The agricultural products with reduced production include cassava, pineapple, rubber and pigs.

Apichai predicted that the price of late rice this month will be slightly lower than that in October, due to the large number of early rice listed, but supported by the government's introduction of farmers 'income guarantee scheme, the price drop of rice will be limited. In October, the average price of 5% late rice reached 8,460 baht per ton, down 20.88% year-on-year, and the forecast for this month's listing reached 11,164,465 tons, or 47.99% of the total production.

Apichai estimates that corn feed prices will rise this month compared with October, due to the decline in October market volume, an average price of 5.18 baht per kilogram, an increase of 22.57% year-on-year, this month's market volume is estimated to be about 863,902 tons, or 19.42% of the overall production volume.

For cassava, prices are forecast to be close to October in November this year. Palm oil prices this month will increase with the international market of raw palm, October this year 3.25 baht per kilogram, up 19.49% year-on-year.

Abhisit believes that rubber prices will continue to grow this month, averaging 67.41 baht per kilogram in October this year, up 23.67% year-on-year. Pork prices are estimated to be similar to October this month; chicken prices have not changed much this month, averaging 39.46 baht per kilogram.