India Queen Basmati RIce
India Queen Basmati RIce

United Nation Food and Agricultural Organization in its rice market monitor report for April said that the world’s rice trade in 2015 will drop down by 2.5% to 41.3 million tons due to higher rice production in Asian nations. Also global paddy production has forecasted to surge by 1.1% to 749.8 million tons in 2015.

Thailand has exported 10.8 million tons of rice in 2014, which is the highest ever rice export by Thailand and hence has own its lost crown of top rice exporter of world. India stood second with export volume of 9.3 million tones, followed by Vietnam with 6.5 million tones rice export.

These three Asian nations all together contribute to 65% of world’s total trade which has declined  by 3% from their last year’s 68% contribution.

China and Nigeria are major rice buyers of world. China is forecasted to raise its import volume by 5.2 % after strong demand in country and Nigeria’s import seems to declined by 3.3% after Nigeria’s aim to be self sufficient

Rice output in China, also the world’s top producer, is forecast to edge up 0.2 percent to 208.5 million tonnes this year, FAO said.

Last year China and Nigeria each bought 3 million tonnes of rice from abroad.