Global rice supplies forecast is raised by 4.9 million tons to 701.6 million, mainly on higher production for India, which is projected at a record 129.0 million tons, up 4.0 million, the USDA said in its latest monthly report, adding it was based on the Indian government’s Second Advanced Estimates of Production and a favourable and extended monsoon season.
It said the 2021/22 global outlook is for larger supplies, higher consumption, increased trade, and higher stocks.
India’s 2020/21 production was also increased by 2.1 million tons to 124.4 million on the final government estimate., the report said, adding that global 2021/22 consumption is increased 0.7 million tons to a record 511.1 million. World trade is 0.5 million tons higher at 51.3 million on greater exports by India and Thailand.
“India’s 2021/22 exports are forecast at 20.5 million tons, surpassing last year’s record 20.2 million. Projected 2021/22 world ending stocks are raised 4.2 million tons to a record 190.5 million, primarily on increases for India
and Thailand. India accounts for 22 percent of global stocks at 42.0 million tons,” the report added.