Global rice exports to go up 2% in 2012 — FAO

Global rice exports will go up 2 percent to 37.3 million metric tons (MT) for 2012 despite two of the biggest rice importers—the Philippines and Indonesia—curbing their importation, the Food and Agriculture Organization (FAO) said. In its "Food Outlook," the FAO noted that both the Philippines and Indonesia have self-sufficiency goals in place and are restraining their reliance on foreign rice, to 900,000 MT and 1.3 million MT respectively this year. Their smaller rice orders will be offset by increases from other countries. Nigeria, which is the world's biggest rice importer according to data from the Asian Development Bank, will increase its purchases by 17 percent on year to a record 2.8 million tons. Other countries in the Near East and Africa such as Iran, Brazil, and Venezuela will also see increases in their rice imports this year. An "outstanding development" is the emergence of India as the world’s top rice supplier, after decades of Thailand being on top, said the FAO report. The organization also expects rice exports to up slightly in 2013 to 37.5 million tons, as ample supplies in exporting countries could intensify competition in the world market and lead to lower prices. According to the report, global rice utilization in the 2012-2013 period is expected to rise by 1.4 percent to 475 million tons, with over 85 percent (402 million tons) for human consumption. The rest will be used for feeds or industrial uses. — BM, GMA News