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Rice Demand Exceeds Global Production

posted on December 24, 2004

Global rice production in 2004 is estimated to soar to a near-record of 661 million tons, but still won't be enough to meet the demand of consumers, the United Nations said this week.

The output is expected to be 27 million tons greater than in 2003, and close to the record production of 1999, with most of the increase occurring in Asia.

But despite the improvements, world rice inventories will only reach 99 million tons, and for the fifth consecutive year production will remain short of consumption. U.N. officials say the shortfall will be made up by drawing down stocks.

Tags: agriculture crops markets news rice