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USDA Lowers Global Rice Stocks
WASHINGTON - Sep 12/07 - SNS -- Projected global 2007-08 production and ending stocks are lowered from a month ago, while consumption and trade are nearly unchanged, according to the latest forecasts by the USDA's World Agricultural Outlook Board.
World 2007-08 rice production is projected at a record 418.5 million metric tons (MT), 2.7 million MT below last month. The smaller world rice crop is due mostly to a decrease in production in China estimated at 127 million MT (down 2.7 million MT).
The rice crop in North Korea is also lowered, while crops in the United States, Iraq, and Kazakhstan are increased slightly. The decline in China's rice production in 2007-08 leads to a decrease in China's rice stocks to an estimated 33.6 million MT, down 2.7 million from last month.
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