USDA raises global rice supply estimates on higher production

The US Agriculture Department has raised global 2015/16 rice supplies by 0.9 million tons to 574.0 million, primarily on increased production. The largest production gains are 0.3 million tons each for China and the Philippines, it said in its latest World Agriculture Supply and Demand Estimates report.

The China increase is on updated government data. The Philippine increase comes from reported damage related to Typhoon Koppu, which struck a key rice-growing region last October, which was less severe than initially thought. World exports are raised 0.8 million tons to 42.2 million on increased demand, especially in Southeast Asia.

Global consumption is lowered 0.4 million tons to 484.3 million, but remains record large. Ending stocks are raised 1.3 million tons to 89.7 million, but are still 14.2 million tons below last year and the tightest stocks since 2007/08, it said.

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