Lower global rice production is forecast
MetadataShow full item record
CTA. 2003. Lower global rice production is forecast. Agritrade, October 2003. CTA, Wageningen, The Netherlands.
Permanent link to this item: http://hdl.handle.net/10568/52670
The USDA Rice Outlook for August 2003 predicted global rice production for...
The USDA Rice Outlook for August 2003 predicted global rice production for 2003/04 at 390.6 million tonnes (milled rice). This is 4% below the record crop of 1999/2000. Global rice consumption is predicted at 412 million tonnes, with ending stocks predicted at 85.1 million tonnes, the lowest since 1983/84. Global trade in rice is projected at 26.2 million tonnes in 2004, up 1.2 million tonnes on 2003. Comment: ACP countries (excluding South Africa) import around 3.6 million tonnes of rice - about 14.3% of total world trade in rice of which Africa accounts for about 88%. There are plans afoot in the context of the NEPAD programme to launch an African rice initiative to improve domestic African production of rice and reduce the need for imports. However, these plans could be thrown into confusion by the availability of lower priced EU rice, resulting from the recently agreed process of reform in the EU rice sector. The impact of EU rice-sector reform will need to be taken into account in any investment decisions in the African rice sector despite the currently favourable demand and production trends.