Next Rice Crop Could Be Record

WASHINGTON - May 11/07 - SNS -- Rice production is expected to come in at a record 420.8 million metric tons (MT) in the coming season, up 4.3 million from 2006-07, according to the latest forecasts from the USDA's World Agricultural Outlook Board.

World disappearance (consumption and residual) is projected at a record 424.5 million MT, up 5.5 million MT. Global exports are expected to be about the same as 2006-07 at nearly 30 million MT.

Ending stocks are expected to decline for the seventh consecutive year to 72 million MT, 3.7 million below 2006-07, and the lowest since 1983-84. The global stocks-to- use ratio is projected at 16.9%, down from 18.1% in 2006-07, and the lowest since 1976-77.

U.S. rice production in 2007-08 is projected at 183 million cwt (100 pound units), about 6% below 2006-07, and the smallest crop since 1997-98. Planted area is estimated at 2.64 million acres as reported in Prospective Plantings, down 7% from 2006, and the lowest area since 1987-88.

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