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Home >> Business
UPDATED: 08:35, December 09, 2005
Global rice production to soar in 2005: FAO
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With the improved rice production in some major producing countries, the global paddy output for 2005 is estimated to reach 622 million tons, up 16 million tons, or 2.6 percent, over 2004, the Food and Agriculture Organization of the United Nations (FAO) said in Bangkok Thursday.

The increase indicated rice production development in Asia, where about 562 million tons of paddy are likely to be harvested, breaking last year's record of 547 million tons.

The production soar in Asia is mainly anticipated in Bangladesh, Cambodia, China, India, Indonesia and Thailand. In Japan, Iran, Myanmar, the Philippines and Sri Lanka, moderate growth is expected to be registered.

In other regions of the world, buoyant prospects are displayed in Russia, Tanzania, Togo and Turkey, while the performance worsened in such countries as Egypt, the European Union (EU) and the United States.

As for global rice trade, the FAO raised its forecast for 2005 to 27.6 million tons, almost 1 million tons more than last year.

In spite of the shortfall in Thailand resulted from reduced availability and government intervention to sustain price, many other leading rice exporters stepped up their shipment and more than compensation for Thailand's retrenchment, according to a press release of FAO.

Much of the soar in world exports stemmed from Asian countries, Bangladesh and the Philippines in particular, followed by countries in Africa and Central America and the Caribbean.

Compared with the high level price in the first half of year in Africa and parts of Asia, rice prices for the whole 2005 have come down. In 2006, rice price may decline by 5 percent on average based on the current supply and demand prospects, said FAO.

Source: Xinhua


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