Global rice production seen higher; India top exporter – USDA

rice-field-syngenta.jpg

Photo courtesy - Syngenta

The U.S. Department of Agriculture (USDA) raised 2015-16 estimates of global rice production from last month and said the upward revision was mostly due to an increase in India’s crop.

Despite these adjustments, global rice production is the lowest in 4 years. Trade is raised marginally. Global stocks are revised higher this month but are down 13 percent from the prior year. The U.S. season-average farm price is lowered, the USDA said in its latest monthly report.

It said in 2015, India became the top rice exporter, setting a record of 11.0 million tons. Basmati (fragrant) exports surged 16 percent to 4.2 million tons while coarse (non-fragrant) exports were lower compared to the prior year.

India is the largest basmati exporter, accounting for over 80 percent of global trade, with the remainder mainly from Pakistan. The primary export markets are the European Union and the Middle East. Larger exports to Saudi Arabia, the United Arab Emirates, and Iraq more than compensated for smaller shipments to Iran.

The USDA said basmati exports would likely comprise an even larger share of total Indian exports in the coming year, as coarse rice will face competition from other Asian suppliers.

Trade changes for 2016

  • Cambodia’s exports are raised 100,000 tons to 900,000 on the pace of trade and continued strong prospects in the region.
  • China’s exports are lowered 100,000 tons to 350,000 on a slower pace of exports. Imports are revised up 300,000 tons to 5.0 million.
  • India’s exports are raised 100,000 tons to 8.6 million on larger exportable supplies.
  • Indonesia’s imports are up 100,000 tons to 2.0 million on a smaller crop.

Multi-year revision

  • China’s imports have been revised from 2013 to present, incorporating data covering trade with Pakistan, Cambodia, and Laos. China’s 2013 imports are up 17,000 tons to 3.5 million, 2014 imports are up 282,000 tons to 4.5 million, 2015 imports are up 650,000 tons to 5.2 million.

Leave a Reply

Your email address will not be published.