USDA is forecasting world rough rice production will reach a record 718.2 million metric tons in the 2016-17 marketing year. That's nearly 100 million metric tons more than what the world's farmers were producing 10 years ago.
That will result in world milled rice production of a record 481.7 million metrics tons, as Dr. Bobby Coats, professor of economics in the Department of Agricultural Economics and agribusiness at the University of Arkansas System Division of Agriculture, notes in the slide presentation that accompanies this article.
Dr. Coats, a veteran commodities and farm policy analyst, says world rice trade is expected to total 40.9 million metric tons. "That would be the fourth highest on record, but is below the previous years," he noted. "That, in part, reflects anemic growth."
With world rice trade slowing, world rice ending stocks are forecast to total 115.8 million metrics tonds, the highest level since the 2001-02 marketing year.
Dr. Coats provides analysis of this and other trends in the world rice market in this slide presentation.