Global Trade To Be Back On Track Soon: FAO

A recent report prepared by, Food Outlook Global Food Analysis, FAO, has projected that global trade in rice in the current year is expected to recover by 2 % to reach 30.9 million MT, the second largest volume on record.

The increase would be facilitated by less prohibitive world prices, which would boost import demand

 According to the FAO Food Outlook Analysis, in Asia, lower international prices and/or attempts to build up reserves are expected to sustain imports by Mainland China , Saudi Arabia and the United Arab Emirates , while both Japan and the Republic of Korea are likely to buy more to fulfill their WTO minimum quotas.

Meanwhile in Latin America and the Caribbean, imports could rise by 4 %, principally on account of larger purchases by Brazil, while in the other regions, Australia, the United States and the EU are all expected to step purchases compared with last year.