Little Change in Global Rice Outlook

WASHINGTON - Sep 12/02 - SNS -- Global 2002-03 rice production, consumption, and stocks are lowered from last month while trade is nearly unchanged in the latest USDA world supply-demand outlook report.

The 3.5-million-ton decrease in global rice production is due primarily to smaller crops projected for India, Cambodia, Brazil, Australia, and Venezuela. India's 2002-03 rice crop is projected at 78 million tons, 2% below last month, 15% below 2001-02, and the smallest crop since 1992-93.

Global rice ending stocks in 2002-03 are projected at 105.1 million tons, 7% below last month, 20% below 2001-02, and the lowest stocks since 1987-88.

Looking at the situation in the United States, the USDA said domestic rice supplies are projected at a record 258.5 million cwt (100 pound units) across 2002-03, about 1% above both last month and 2001-02.

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