Record India production pushes global rice supplies higher


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.

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