FAO expects global rice production to rise 1.3 percent year-on-year

FAO has revised up its May 2015 global wheat, coarse grains and rice production forecast, predicting higher maize production in China and Mexico and bumper wheat harvests in Africa and North America.

FAO predicts that global rice production will increase by 1.3 percent compared with last year, thanks to the increase in production throughout Asia. However, the forecast is still uncertain and needs to be watched for changes in the coming months.

According to the latest forecast, global cereal production in 2015 will be 2.524 billion tons, 1% less than last year's record level. FAO believes that although some stocks will be reduced, the ratio of world cereal stocks to utilization is expected to decline slightly, indicating that the cereal market is generally stable.

2015/6/10 9:32:46 Source: Office of Business and Counsellor in Benin