USDA Reduces Global Rice Supplies By 2.10 Million Tonnes For MY 2018/19

The latest report of United States Department of Agriculture (USDA), global rice supplies for 2018/19 are lowered 2.1 million tons primarily on reduced China production. Chinas harvested area is decreased 0.5 million hectares and production is down 2.3 million tons. The reduced China supplies are accounted for by a 1.0-million-ton reduction in consumption and a 1.3-million-ton decrease in stocks. Global consumption is lowered 0.6 million tons and exports are raised fractionally. With reduced supplies more than offsetting lower use, global ending stocks are down 1.5 million tons.