rice market summary, november 2010
DESCRIPTION
World rice prices tripled in just six months during 2007-08. While media attention focused on the events in international markets, the effects of the crisis were mostly felt in poor households in the developing world. Given the importance of rice as a key staple of the poor, monitoring the rice market is paramount.TRANSCRIPT
Economic and Social Development DepartmentFood and Agriculture Organization of the United Nations
Rice Market Summary
Rice Market MonitorJanuary 2011
Using information from:
FAO Food OutlookNovember 2010
Rome, February 2011 2Rice Market Summary
Economic and Social Development DepartmentFood and Agriculture Organization of the United Nations
Rice prices remain relatively subdued Compared to other cereals,
the rice market stood out as rather quiet in 2010
Despite recent increases, rice prices remain below record highs
Relatively abundant supplies are expected to further moderate the upward pressure in 2011
Rome, February 2011 3Rice Market Summary
Economic and Social Development DepartmentFood and Agriculture Organization of the United Nations
Outlook for global rice production positive The outlook for global rice
production in 2010/11 is positive
At 700 million tonnes, the current estimate puts global production at 2.4% above 2009/10 levels
The increase is expected to stem from a rebound in world area planted to rice
Rome, February 2011 4Rice Market Summary
Economic and Social Development DepartmentFood and Agriculture Organization of the United Nations
Higher rice trade in 2010... At 31.5 million tonnes, trade
is expected to be 6% higher than in 2009
Larger imports by Asian countries are a main driver
The United States and Viet Nam are foreseen to account for much of the anticipated expansion of world exports
Rome, February 2011 5Rice Market Summary
Economic and Social Development DepartmentFood and Agriculture Organization of the United Nations
...remaining relatively steady in 2011 Trade volumes in 2011 are
forecast to be slightly below the 2010 levels
Improved supplies are anticipated to reduce imports in Asia and Latin America
On the export side, Thailand is foreseen to play a pivotal role in 2011, compensating for reduced deliveries by Pakistan and Viet Nam
Rome, February 2011 6Rice Market Summary
Economic and Social Development DepartmentFood and Agriculture Organization of the United Nations
Good crops to boost rice stocks in 2011 Global production in 2010 is
anticipated to surpass consumption by more than 6 million tonnes
This could result in a 5% build-up of world stocks in 2011, reaching the highest level since 2002
The refurbishing of rice inventories is expected to lift the global stock-to-use ratio to almost 30% in 2011
Rome, February 2011 7Rice Market Summary
Economic and Social Development DepartmentFood and Agriculture Organization of the United Nations
Stocks held by major exporters rise slightly Inventories held by the five
major exporters of rice* is expected to increase slightly in 2011
Similarly, the relation of their inventories to disappearance (utilization plus exports) is expected to move up
This could indicate that the market may ease in the course of 2011
* China, India, Pakistan, Thailand, USA, Viet Nam
Rome, February 2011 8Rice Market Summary
Economic and Social Development DepartmentFood and Agriculture Organization of the United Nations
More information
The 2007-08 Rice Price Crisis: How policies drove up prices... and how they can help stabilise the market; FAO Policy Brief No 13
Rice Market Monitor, January 2011
FAO Food Outlook, November 2010
Rice Market Summary, excerpts taken from the FAO Food Outlook, November 2010