World Rice Supplies More Ample

WASHINGTON - Apr 9/08 - SNS -- Global rice production, domestic use, and ending stocks for 2007-08 are raised from last month, while imports and exports are lowered, according to the latest supply and demand update from the USDA's World Agricultural Outlook Board.

Global production is raised 2.4 million metric tons (MT) to 425.29 million, continuing the recent upward trend in world production levels. The change stemmed from increases for Indonesia (1.5 million MT), Burma (0.6 million MT), and Brazil (0.2 million MT). Global imports are lowered nearly 2 million MT due primarily to the impact of higher global prices and export bans and restrictive policies among many of the leading exporters including Egypt, India, and Vietnam.

Imports are lowered for Brazil, China, Cuba, Iraq, Indonesia, and a number of markets in Africa. Africa's imports are down 550,000 MT from last month. Indonesia's imports are lowered due primarily to a large increase in production. Global exports are lowered due primarily to reductions for Egypt, Cambodia, China, India, and Vietnam. Global ending stocks are projected at 77.1 million MT, up 1.9 million MT from last month, and an increase of nearly a million MT from 2006-07. The increase in ending stocks is due primarily to an increase for Indonesia.

No changes are made to the U.S. 2007-08 rice supply and use projections. However, the season- average farm price is raised 20 cents per cwt on each end of the range to $12.05 to $12.35 per cwt, compared to $9.96 per cwt for 2006-07.

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