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Little Change in World Rice Picture
WASHINGTON - Jun 10/09 - SNS -- Global 2009-10 rice supply and use is nearly unchanged from a month ago, according to the latest spply and demand outlook from the USDA's World Agricultural Outlook Board.
Global production is raised about 400,000 metric tons (MT) to 448.521 million MT, primarily due to an increase for the EU-27 and Brazil, which is partially offset by reductions for the United States, Iraq, and Taiwan.
The change in Brazil is based largely on an increase in the 2008-09 crop. The 2009-10 Brazil crop will not be harvested until March – May 2010. Ending stocks for 2009-10 are projected at 95.0 million MT, up 0.3 million from last month, and up 5.1 million or about 6% from 2008-09.
U.S. rice supplies in 2009-10 are lowered 3.0 million cwt (100 pound units) from a month ago as production is lowered 4.0 million and imports raised 1.0 million. U.S. rice production in 2009-10 is projected at 220.0 million cwt, nearly 2% below last month, but 8% above 2008-09.
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