Little Change in World Rice Picture

WASHINGTON - Mar 9/07 - SNS -- Rice production around the world was lowered slightly from last month; consumption, imports, and exports left nearly unchanged; and ending stocks raised slightly in the latest USDA supply and demand updates from the World Agricultural Outlook Board.

Global production is reduced 300,000 metric tons (MT) from a month ago to just under 415 million MT due primarily to a smaller crop projected for Indonesia.

Global ending stocks are projected at 79.1 million MT, up about 0.2 million MT from last month, but 2.8 million MT below 2005-06. The slight rise in ending stocks is due primarily to an increase for India (+0.75 million MT), which is nearly offset by reductions for Indonesia (-0.45 million MT), Argentina (-0.1 million MT), and Pakistan (- 0.1 million MT). Smaller adjustments in stocks are made to several other countries.

Only minor changes are made to the U.S. 2006-07 rice supply and use projections. On the supply side, all rice imports are raised 0.5 million cwt to 19.0 million cwt with long-grain imports raised 0.5 million cwt while combined medium- and short-grain imports are unchanged. No changes are made on the use side from a month ago.

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