WORLD RICE SITUATION AND OUTLOOK
Global rice trade in 2000 is forecast to drop only fractionally as greater imports by the Middle East and Latin America nearly offset weaker Asian imports. U.S. exports are expected to increase 9 percent as a result of record supplies and lower prices. Global prices, which have declined in 1999, will be further pressured by large supplies in nearly all exporting countries. Global production, consumption and ending stocks are all projected to climb to records in 1999/2000, largely due to increases in China and India, the two largest producers.
Global trade in 1999 is up this month because of a forecast increase in exports by China, Thailand and Vietnam, three of the largest exporters. After a sharp decline in early October, Asian prices have remained relatively stable for the past month. However, there is little expectation of price strength due to stagnant world trade, further import restrictions by Indonesia, and bumper harvests in many Asian countries this fall. Despite continued drops in the World Market Price, U.S. rice export prices have declined little over the past five weeks.
2000 Trade Changes
1999 Trade Changes
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