World rice stocks may continue to decrease for 3 years

USDA estimates global rice stocks at the end of the 2022/23 crop year to be down 2.2 million tons from the April report, to 169.2 million tons, 7% lower than the same period a year ago. Myanmar, Cambodia, India, Mexico and Pakistan accounted for most of the downward revision to world rice stocks at the end of 2022/23. India's stocks are estimated to decrease by 1.5 million tons to 31.0 million due to strong domestic demand. Ending stocks in Pakistan are estimated to have fallen by 0.9 million tons to 0.8 million tons, the lowest since 2013/14, due to reduced production. Markets with adjusted inventories are: Mali, Nigeria, Philippines, Senegal, Sri Lanka, Türkiye and Venezuela. For the 2023/24 crop year, USDA predicts that global rice stocks will continue to decrease by 2.5 million tons compared to the April report, to 167 million tons. China and India account for 81% of global rice stocks. The global rice use-to-stock ratio for 2023/24 is forecast at 31.9%, down from 32.4% a ...