Financial Daily from THE HINDU group of publications
Monday, Oct 14, 2002
Financial Daily from THE HINDU group of publications Monday, Oct 14, 2002 |
|
|
|
|
|
Agri-Biz & Commodities
-
Foodgrains Truant monsoon to hit global rice production Our Bureau
MUMBAI, Oct. 13 LOWER rice production in India during 2002-03, following drought conditions, will lead to a decline in global rice output during the year. India, the world's second largest rice producer, is likely suffer a sharp reduction of over 13 million tonnes rice output as below-average rains during July and August hit major rice producing regions. In 2001-02, India produced a record 91.6 mt World rice production for 2002-03 is forecast at 381.2 mt (milled basis), down 15.1 mt from last year and contributed substantially by lower Indian crop, according to the US Department of Agriculture (USDA). Rice production in China, world's largest producer, too is set to drop from last year by 1.1 mt to 123.2 mt In South-East Asia (Indonesia, Vietnam, Thailand, Myanmar, the Philippines and Cambodia), production is forecast down one per cent to 82.2 mt For past three years, both world production and stocks have decreased while consumption has increased. Yet, world rice prices have remained virtually flat in the face of this trend, because despite lower Indian production, the country has been able to export at record levels due to their very large stocks, the agency pointed out. Cotton: The USDA has forecast Indian cotton crop for 2002-03 at 10.9 million bales, down 1.4 million bales from last year. The late revival of south-west monsoon resulted in good rains from end-August to mid-September in most cotton growing areas (except some pockets of the South) providing relief to the drought-stressed crop. The crop continues to progress well under generally favourable conditions due to improved soil moisture availability. However, late rains have resulted in a 3-4 weeks delay in crop maturity and expected market arrivals. A clearer picture will emerge by early December when picking accelerates in most growing areas. India's other crops did not, however, benefit, from the late revival of rains, the agency said.
Send this article to Friends by
E-Mail
|
Stories in this Section |
|
The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription Group Sites: The Hindu | Business Line | The Sportstar | Frontline | Home |
Copyright © 2002, The
Hindu Business Line. Republication or redissemination of the contents of
this screen are expressly prohibited without the written consent of
The Hindu Business Line
|