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Smaller Global Rice Supply
WASHINGTON - Dec 11/07 - SNS -- Global 2007-08 rice production, consumption, and ending stocks are lowered from a month ago, while trade is increased, according to the latest forecasts from the USDA's World Agricultural Outlook Board.
The month over month decline in global rice production from 421.16 to 420.48 million metric tons (MT) is due to smaller crop projections for Australia, Iran, and Bangladesh, which are partially offset by increases for EU-27 and Pakistan.
Consumption is lowered for Iran and Bangladesh and increased for Pakistan. Imports are increased for Bangladesh and Panama, while exports are raised for Brazil, Burma, and the United States. Global ending stocks for 2007-08 are projected at 72.2 million MT, down 1.9 million MT from last month, and 3.4 million MT below 2006-07. Stocks are lowered for Australia, Bangladesh, Brazil, Iran, Thailand, and the United States and increased for Panama and Pakistan.
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