USDA US Supply/Demand Rice Reports

Only minor changes are made to the U.S. 2006/07
rice supply and use projections.  On the supply side, all
rice imports are raised 1.0 million cwt to a record 20.0
million cwt with long-grain imports up 1.0 million cwt, while
combined medium- and short-grain imports are
unchanged.  Imports of fragrant long-grain rice from
Thailand, which are larger than expected through the first
half of the marketing year (based on Census data through
January), account for most of the increase.  No changes
are made on the use side from a month ago.  Ending
stocks of all rice are projected at 31.9 million cwt, 1.0
million cwt above last month, but 11.1 million cwt below a
year earlier.  The season-average farm price is projected
at $9.75 to $9.95 per cwt, unchanged from a month ago.

Global production, imports, and exports are raised slightly
from last month, while beginning stocks, consumption, and
ending stocks are lowered slightly. Global production is
raised less than 0.1 million tons on a number of nearly
offsetting changes.  On the plus side, production is raised
for Egypt, Cote D'Ivoire, Burma, Nigeria, and Venezuela,
while production is lowered for Pakistan, Japan, and
Argentina.  Exports are raised for Pakistan, Thailand, and
Vietnam and lowered for Burma.  Imports are increased for
Colombia, Iraq, and the United States.  Global ending
stocks are projected at 78.9 million tons, about 0.2 million
tons below last month, and 2.6 million tons below 2005/06.
The slight decline in ending stocks is due primarily to
decreases for India, Thailand, and Vietnam; which is
nearly offset by increases for Egypt, Cote D'Ivoire, Burma,
and Nigeria.