USDA Rice Outlook
MetadataShow full item record
CTA. 2003. USDA Rice Outlook. Agritrade, June 2003. CTA, Wageningen, The Netherlands.
Permanent link to this item: http://hdl.handle.net/10568/52600
The USDA Economic Research Service's Rice Outlook on May 13th 2003 reported a...
The USDA Economic Research Service's Rice Outlook on May 13th 2003 reported a first forecast for 2003/04 global rice production at 393.7 million tons, which would be a rise of 3% on last year, the first increase since 1999/2000. Global rice trade is projected at 26.3 million tons in 20003, 6% below 2002. Global rice consumption is projected at a near record level of 410 million tons, up more than a million tonnes on last year. Global ending stocks are projected at 19.9 million tonnes, down 15% on a year earlier. Rice stocks are now at the lowest level since 1984/85. US rice exports for 2003/04 are projected at a record 117 million cwt, nearly 41% higher than a year earlier. This increase is a result of growing shipments to Latin America, particularly to Brazil and Venezuela. According to the report, world short-grain and medium-grain prices of rice were 13% lower in May 2003 compared to May 2002 and 9% lower for long-grain rice. Comment: The expanding US rice exports to Latin American markets will exacerbate the problems of Guyana and Surinam as EU prices fall dramatically and alternative markets are sought.