Global rice trade will likely to rise by nearly 6% this year, to a three-year high of 30 million tonnes, the International Grains Council has said.
A recent report of the Council said that rice trade would be higher than the five-year average due to a rebound in shipments to Asia Deliveries to Far East Asia are forecast to rise 20%, to 8.1 million tonnes, due to strong imports by Bangladesh and the Philippines.
Bangladesh is forecast to increase imports to 700,000 tonnes this year from 145,000tpmmes in 2009 due to reduced production and increased consumption, the IGC said.
Due to a rise in shipments by Thailand and Pakistan, total exports by the five leading exporters of rice including Vietnam, India and the U.S. is projected to rise 7% by 24 million tonnes.
Source:
The Economic Times