USDA forecasts world rice production in 2022/23 to decrease for the first time in 7 years

Accordingly, this year's global rice production is forecast to be the lowest since 2019/20. Specifically, raising the production forecast for Bangladesh, Sri Lanka, Thailand and Uzbekistan, but lowering the production forecast for Argentina, Brazil, Cuba, the European Union and Vietnam. The total global rice supply in the 2022/23 crop year in the February 2023 report was revised up by 0.2 million tons from the previous month's report, to 686.3 million tons, but still 2% lower than the previous period. the previous year's record and the smallest since 2019/20. This is the first time the global rice supply has decreased since the 2004/05 crop. The global rice consumption forecast for the 2022/23 crop year has been revised up 1.1 million tonnes from last month's report to 517.2 million, but still 2.7 million tonnes below record consumption. of the previous year. Bangladesh, China, and Thailand account for the majority of the total upwardly revised forecast for world rice ...