WORLD RICE SITUATION AND OUTLOOK
Global rice trade in 2000 is forecast to drop as weaker Asian imports more than offset greater imports by the Middle East and Latin America. U.S. exports are expected to increase 9 percent as a result of record supplies and lower prices. Global prices, which 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 record (or near-record) levels in 1999/2000, largely due to increases in China, the worlds largest producer.
Despite harvest pressures, Thai export prices rose over the past month, largely a result of a stronger Thai Baht which reached a six month high vis-a-vis the dollar in early January. Still, there is little expectation of price strength in 2000 due to becalmed world trade, expected bumper harvests in many Asian countries in early 2000 and the Indonesian imposition of a 30% rice import tariff which began January 1, 2000. U.S. rice export prices dropped slightly in early January.
2000 Trade Changes
1999 Trade Changes
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