FAO Sees Strong Signs of Record Rice Production

The Food and Agriculture Organization of the United Nations (FAO) expects a new record high in rice production in Asia, Africa and Latin America this year. Concepcion Calpe, FAO rice expert, predicts about 2.3 percent growth in the world paddy production reaching a new record level of 666 million tonnes this year. “For the first time, paddy production in Asia may surpass the 600 million tonne benchmark this year,” Calpe said. Countries predicted to register the major gains were Bangladesh, China, the Philippines, Thailand and Vietnam. Moreover, the Rice Market Monitor supports this claim and foresees the potential of recent appeals and incentives to grow more rice which could lead to larger expansion of plantings thus increasing the production growth. 

However, FAO warned that the world rice prices could remain high in short term since the 2008 crops will only be harvested by the end of the year. Caple mentioned about the possibility of the cyclone disaster in Myanmar to affect their forecast.

To view full article, visit http://www.fao.org/newsroom/en/news/2008/1000835/index.html Rice Market Monitor is available at http://www.fao.org/es/ESC/common/ecg/71/en/RMM_Apr08.pdf