RICE: U.S. 2015/16 rice exports are lowered 2.0 million cwt this month to 100.0 million on reduced shipments of southern medium-grain rough rice, especially to Turkey. Rice ending stocks are raised 2.0 million cwt to 43.9 million. The all rice price is lowered $0.10 at both ends of the range to $12.40 to $13.20 reflecting lower projected medium- and short-grain prices.
Global rice supplies for 2015/16 are raised 1.8 million tons primarily on increased production. The largest production change is a 3.0-million-ton increase for India on updated government\ statistics. This is partially offset by a 1.0-million-ton decrease for Indonesia on lower area, caused by a poor start to the rainy season. Global imports are raised 0.4 million tons led by a 0.3-million-ton increase for China and a 0.1-million-ton increase for Indonesia. The China increase is on the import pace to date and the Indonesia increase is on the smaller crop. Export changes are very small and mostly offsetting.
World rice consumption for 2015/16 is raised 0.6 million tons and remains a record. Consumption is up 0.9 million tons for India and 0.3 million tons for China, both on larger supplies. The largest offsetting reduction is 0.2 million tons for Indonesia on the smaller crop. With the increase in supplies exceeding the rise in consumption, global ending stocks are raised 1.2 million tons to 90.5 million.
Source: USDA WASDE