Global Rice Production Forecast Cut

FAO cut global paddy production forecast by 7.8 million tonnes (from April forecast of 732.3 tonnes to 724.5 tonnes) due to concerns over production in India, Cambodia, Taiwan, North Korea and Nepal. Rains in India are deficient by 18% in this monsoon season (June-September) resulting in 10% decrease of paddy sowing areas compared to last year (dropped from 25.86 million hectares to 23.368 million hectares). However, output forecast in China, Indonesia, Tanzania, Thailand and USA were scaled up.

Financial Chronicle, 7 August 2012, p. 8