The International Grains Council in its recent report has predicted that the global trade in rice is projected to rise 2.1% in the current year to reach 29.4 million MT.

South Asia's requirements in 2008 are also projected to be 60% higher at 1.6 million MT, reflecting strong demand from Bangladesh following cyclone damage to paddy fields in late 2007.

Thai rice exports are forecast to decline by 8.4% this year to 8.7 million MT due to depleted state reserves

According to the report, among other key exporters, U.S. shipments are also forecast to be 400,000 MT higher this year to 3.5 million MT.