WORLD RICE SITUATION AND OUTLOOK
Global rice trade in 2000 is forecast to drop as greater imports by the Middle East and Latin America only partially 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 Vietnam and China. After a sharp decline in early October, Asian prices 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 expected bumper harvests in many Asian countries this fall and early 2000. Following continued drops in the World Market Price, U.S. rice export prices have declined slightly over the past five weeks.
2000 Trade Changes
1999 Trade Changes
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