In June, world rice prices were stable overall, with Indian and Thai prices remaining stable, Vietnamese prices rising by 2%, and Pakistani prices dropping by 9%. Strong import demand in the second half of the month led to a strengthening of world prices, particularly in Southeast Asia countries, as they anticipated a potential drop in rice production in 2023/2024 due to the El Niño climate phenomenon. In 2022, world rice production decreased by 1.6% due to bad weather conditions in South Asia, with notable drops in Pakistan and China. However, production increased in India and Thailand. World rice trade increased in 2022 but is expected to fall in 2023, while rice stocks are projected to decrease slightly in 2023 due to a potential decline in production.