World Rice Residuals May Rise

WASHINGTON - Nov 9/07 - SNS -- Global 2007-08 rice production and ending stocks are raised from a month ago, while expected trade volumes were lowered, according to the latest forecast from the USDA's World Agricultural Outlook Board.

World production is forecast at a record 421.2 million metric tons (MT), up 2.5 million from last month due mainly to an increase for China (up 2.5 million MT). Other production changes include increases for the United States, Vietnam, and several African countries that were nearly offset by a decrease for Bangladesh.

Global imports are lowered slightly due to reductions for Brazil, Iraq, Afghanistan, and China, which are nearly offset by increases for the U.S. and Bangladesh. Global exports are lowered from a month ago due mostly to a reduction for India, which is partially offset by increases for the United States and Vietnam.

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