Estimated Global Rice Exports To Fall By Almost 10%: IGC

According to a recent statistic released by the International Grains Council, IGC, rice shipments by the world's five leading exporters are projected to fall by10% to 22.7 million MT this year due to a decline in amounts available for shipment abroad.

Combined exports this year from Thailand, India, Vietnam, United States and Pakistan are projected to hit their lowest levels since 2003, 2 million MT below the average annual exports of the past three years, IGC said.

The IGC report also estimates that global trade in rice is projected to fall 9% on year in 2008 to 27.9 million MT due to reduced availability of supplies and sharply higher prices.