WORLD RICE SITUATION AND OUTLOOK
Global rice trade for 2001 is projected at 24.6 million tons, up 1.9 million tons from this year. World production (rough basis) in 2000/01 are forecast to drop more than 7 million tons and ending stocks are forecast to decline 3.5 million tons. In contrast, global consumption is projected to rise slightly.
Nominal price quotes for Thailand and Vietnam have changed very little since July.
Price quotes for U.S. milled long grain grade #2, 4 percent have risen slightly since last month. In contrast, price quotes for U.S. medium grain milled rice have declined substantially and are well below a year earlier.
Trade Changes in 2001
- Burma up 50,000 tons to 250,000 due to larger exports in 2000.
- Argentina down 100,000 due to lower crop projection.
- United States imports down 50,000 tons to 350,000 based on weaker imports in 2000.
- Iraq imports up 50,000 tons to 1 million based on higher 2000 imports.
Trade Changes in 2000
- Australia exports up 50,000 tons to 550,000 based on the pace of shipments to date.
- Burma up 50,000 tons to 250,000 based on the pace of sales and shipments to date.
- India exports up 200,000 to 1.3 million based on the pace of sales and shipments to date.
- Bangladesh imports up 200,000 tons to 700,000 based on pace of shipments to date.
- Iraq up 50,000 tons to 1 million based on the pace of shipments to date.
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