The Hindu Business Line : Record rise seen in global rice exports

GLOBAL rice trade next year is expected to reach the second highest level on record. It is projected at almost 26.2 million tonnes (milled basis) for 2003, virtually the same as in the current year (26.1 mt), according to US Department of Agriculture (USDA). In 1998, global rice trade was the highest at 27.6 mt.

On the demand side, the Philippines will account for the largest share of higher imports. For 2003, the country's import requirement is placed at 800,000 tonnes as per Government assessment. On the export side, Vietnam is expected to ship out 3.8 mt, while Pakistan will export about one mt.

For 2002, world rice trade projected at 26.1 mt reflects 1.7 mt more than a year earlier. According to USDA, India's rice shipments may reach a record 6.5 mt, based on pace-to-date and announced sales. Pakistan's shipments are projected at 1.5 mt.

Indonesia will import an estimated 3.5 mt in the current year, while Iraq's imports will be boosted to a near-record 1.25 mt.

Global rice prices have been pressured down in recent weeks because of continued large, subsidised exports from India, recent sales of some of Thailand's Government rice stocks, and an absence large new sales, USDA said.

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