With Immense stocks, Global Rice Market Can Ride out El Nino : Sam Monhanty, a Senior Economist at International Rice Research Institute (IRRI) has commented that despite the productive threat of El Nino, the global immense stocks-to-use ratio of 23.5% is opulent.

He suggests that the biggest threat is not from production loss, but anxiety which could cause export bans to assure domestic supplies, especially India. India banned export of non-basmati rice 2007-2011.

He also commented that any reduction in Thai production, on account of nation’s rice mortgage scheme coming to an end is likely to be made up for the existing stockpiles from previous years.