India forecast to retain top rice exporter position in 2014

The Dollar Business Bureau | @TheDollarBiz

Recovery in monsoons in India is likely to help rice production remain at high levels this year, says FAO

  Despite poor rainfall, India is likely to remain the world’s largest rice exporter in 2014 for the third consecutive year, helped by large carryover stocks, according to the UN’s Food and Agriculture Organisation (FAO). FAO says that India’s total paddy production this year may decline to around 157.5 million tonnes (about 102.3 million tonnes, milled rice equivalent), which is down about 1% from last year’s record 159.4 million tonnes due to below-average monsoon rains over main rice producing regions. However, rice cultivation has improved after rainfall recovered since mid-July 2014. FAO adds that after the bumper rice harvest in 2013, India has large carryover stocks (of around 23 million tonnes) and is expected to ship around 10 million tonnes of milled rice this year, down about 5% from the previous year, but still the highest by any country this year. Rice exports by Thailand are expected to rebound significantly this year. The Southeast Asian country was the world’s largest rice exporter for over two decades until 2011. This year, Thailand’s rice exports are expected to increase to around 9 million tonnes, up by around 36% from around 6.6 million tonnes in the previous year. Meanwhile, Vietnam, the world’s third largest rice exporter, is forecast to export around 7 million tonnes, up about 5% from last year. India, Thailand and Vietnam account for around 65% of global annual rice exports of around 39 million tonnes, while main rice importers this year are expected to be Nigeria (2.9 million tonnes), China (2.8 million tonnes), and the Philippines (1.8 million tonnes).