Global 2009/10 rice production, consumption, trade, and ending stocks are increased from last month. The 4.0-million-ton increase in world production to 440.3 million is due mostly to increases for India and Bangladesh, up 2.5 million and 1.6 million, respectively. The production changes for both India and Bangladesh are based on information received in March from the Agricultural Counselor's office in New Delhi and official in-country statistics. Small production increases are made in the European Union, Cuba, and Malaysia. Production is lowered slightly in Venezuela, Chile, and the Philippines.
World consumption is projected at a record 440.6 million tons, up 3.4 million from last month, and up 1 percent from 2008/09. The increase in consumption is due mostly to increases for India, Bangladesh, and China. Vietnam's 2009/10 exports are raised to 5.75 million tons, while China's exports are lowered to 0.85 million. Imports are raised for the Philippines, Malaysia, Nigeria, and South Africa, but lowered for Saudi Arabia and India. Global ending stocks are lowered 1.6 million tons to 90.9 million due mostly to a reduction in China's stocks. China's 2009/10 ending stocks are estimated at 40.8 million tons, down 4.4 million from a month ago, and down about 0.5 percent from 2008/09. The changes in China's supply and use balance for 2008/09 and 2009/10 are based mostly on a report from the Agricultural Counselor's office in Beijing.
The 2009/10 long-grain season-average price is projected at$12.70 to $13.20 per cwt, down 20 cents on each end of the range from last month. The combined medium- and short-grain price is projected at $17.45 to $17.95 per cwt, down 5 cents on each end of the range. The all rice season-average price is forecast at $13.90 to $14.40 per cwt, down 15 cents on both ends.
Source : bloombergutv.com