FAO Forecasts Higher Production in 2008

According to the latest projections by the Food and Agricultural Organization (FAO), global rice production is expected to increase by 12 million MT or 1.8 % in 2008.

Production increases would ease the current very tight supply situation in key rice producing countries, according to the first FAO forecast for this year.

International rice trade is also expected to decrease, mainly due to restrictions in main exporting countries.

Currently, China, India, Egypt, Vietnam, four among the traditional rice exporting countries, as well as Cambodia, have either imposed minimum export prices, export taxes or export quotas/bans.