WASHINGTON, DC -- The U.S. 2017/18 rice supply and demand estimates are unchanged this month. The projected season-average farm price for all rice is lowered 10 cents at the midpoint of the range. The reduction is primarily attributed to lower-than-expected long-grain prices reported by NASS.
Global 2017/18 rice supplies are lowered 1.3 million tons on reduced beginning stocks and lower production. Total world production is only down fractionally primarily on a smaller Bangladesh crop. Exports are up 1 million tons to a record 46.8 million. Export changes are led by a 500,000-ton increase for India and a 300,000-ton increase for Burma. Imports are raised 800,000 tons for Bangladesh and 500,000 for Indonesia. Total global use is raised 600,000 tons for 2016/17 but reduced 1 million for 2017/18. For the 2017/18 marketing year, consumption is lowered 200,000 tons each for Bangladesh, Burma, and India, while it is raised 300,000 for China. Ending stocks are down 300,000 tons but remain the highest since 2000/01.
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