Vili Fuavao, Deputy Regional Representative for Asia and the Pacific of the United Nation’s Food and Agriculture Organisation revealed, enhanced exports of Thai rice to other countries in the Far East and Africa are likely to drive Thai rice exports to 10.2 million tonnes in 2014, which, if definite, would stand only 500,000 tonnes short of the 2011 record exports.
The RMM foresees that rice distributions by India will drop by 5% in 2014, dejected by a permutation of intensified rivalry for markets and a drop in demand in its major Basmati vents.
Malaysia is projected to import one million tonnes of rice this year, virtually unaffected from last year. While last facts won’t be definite till initial following year, FAO’s last periodical report for 2014 specifies ample of the growth in 2014 international trade in rice and is expected due to a flow in exports from Thailand, which again will claim the title as the world’s top rice exporter.
Global rice production has persisted stable, low only marginally from the previous record-setting year, with weather conditions contributing to a 0.5 per cent decrease in Asia.
At 744.7 million tonnes (496.6 million tonnes, milled basis), the resulting 2014 global production forecast is expected to be only slightly lower this year compared with last year.
It imitates a 0.1% reduction carried by tough weather situations of both plantings and yields to 162.9 million hectares and 4.57 tonnes per hectare, respectively.
Total universal trade in rice is projected to stroke 40.2 million tonnes in 2014 and could touch 40.5 million tonnes in the 2015 calendar year.
The presumed growth in international rice trade in 2014 is estimate to be continued by nearby 2.0 million tonne flow in shipments to Asian countries to 18.9 million tonnes.
At a country level, the rise would generally reflect a revival of demand from the Philippines, in the result of loss incurred as a outcome of typhoon Haiyan and exhausted stocks.
The nation might end the year with supply of 1.8 million tonnes, up 1.1 million tonnes year-on-year, share of which is to rebuild public rice stocks.