Rice stocks in the world predicted to fall, this is the latest data

Published 2024년 1월 26일

Tridge summary

The International Grains Council (IGC) has forecasted a 1.3% decrease in global rice production for 2023-2024, largely due to climate disruption in Asia. This will result in a total supply of 681 million tons, down from 690 million tons. Global consumption is also expected to decrease by 0.8% to 520 million tons. Despite the decline in rice production, total world grain production is set to reach a record 2.307 billion tons, driven by an increase in corn production. However, global grain stocks are predicted to decrease by 1% to 590 million tons, marking the seventh consecutive year of decline.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Jakarta, CNBC Indonesia - World rice production for the 2023-2024 period is predicted to fall by 10 million tons. This is the data released by the International Grains Council (IGC) for the January 2024 edition. IGC data shows that rice production fell by around 0.7% to 511 million tonnes from the 2022/2023 estimate which is predicted to reach 514 million tonnes. In this way, there is 681 million tons of rice supply in the world, down around 1.3% from the previous 690 million tons. Meanwhile, global consumption is predicted to fall by around 0.8% to 520 million tons. The projected decline in production follows concerns of a decline in production in the Asian region due to the domino effect of climate disruption. Previously, the Indonesian government had also anticipated a decline in rice production. In fact, for January and February it is predicted that there will be a deficit of around the total; 2.8 million tons due to reduced production. Due to the domino effect of the El Nino ...

Source: Cnbcindonesia