The USDA has recorded the global rice production for August 2014 at 477 million MT down by 2.1 million MT from last month forecast but still up by 1.5 million MT forecasted last year.
India is most affected by this as its rice production forecast was lowered by 1 million MT due to delayed and weeker monsoon prevailing in the country especially in the Bihar and Paschimbango.
For 2014-15 India’s rice production is expected to be down by 3% due to less yield and less crop area.
For Bangladesh the rice production has decreased by 0.2 million MT to 34.6 million MT due to high irrigation cost said the US Department for Agriculture Dhaka.
This decrease has forced the farmers to switch to the crops which are more profitable.Farmers have switched to crops like wheat,potatoes,maize,pulses and oil seeds.
Despite of this Bangladesh is still at top level in case of both yield and planting.
For the whole year 2015, the global rice production was forecast at 41.2 million MT down by 0.2 million MT from previous forecast but 1% higher than the forecast in 2014.
India 2015 rice export was lowerd to 0.3 million MT to 8.7 million MT which is 13% down from earlier year export also the decrease is seen in volume since 2011.
Thailand is projected to replace India by becoming the world Larget exporter of the rice with 11% increase in its export from 2014.
The projected increase is based on more competitive price and abundant supplies.Vietnam is projected to ship 6.7 million MT rice in 2015, 3% increase from earlier year.
Bangladesh 2015 import forecast was raised by 0.3 million MT to 0.5 million MT based on recommendation coming from US agriculture Department office in Dhaka.