Rice Market Monitor - June 2006
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FAO ;
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FAO has revised upwards by 3 million tonnes its forecast for global paddy production in 2006, which now stands at 637 million tonnes, only 1.0 percent more than in 2005. Such a sluggish growth is imputable to a general rise in production, processing and marketing costs, but also reflects expectations that growing conditions in the current season might not be as favourable as in 2005. Asian countries are now expected to gather 577 million tonnes in 2006, 4 million tonnes more than previously fo recast and 7.5 million tonnes larger than last year. Much of the increase would reflect progress in Bangladesh, China and Viet Nam and, to a smaller extent, in Indonesia, Myanmar, the Philippines and Thailand. Crop prospects continue to be negative in Japan, the Republic of Korea and Sri Lanka and, now, also in Pakistan.