USDA: World rice imports will remain high

According to the US Department of Agriculture (USDA), the largest decline was recorded in Indonesia, where imports are forecast to fall by 1.1 million tons to 700,000 tons in 2024. In March 2023, the Indonesian government announced the plan. plan to import 2 million tons this year to replenish the national stockpile. Therefore, a large stockpile this year will lead to a decrease in the country's rice imports next year. in China in 2024 is expected to import a volume equivalent to 5 million tons as of 2023 due to competitive global milled rice prices. Broken rice imports from India and Pakistan, which are supposed to be imported outside of China's tariff quota, will not continue in large quantities as rice loses its price advantage over maize in animal feed. However, China is expected to remain the world's top rice importer. Philippine imports are forecast to decline slightly to 3.6 million tons on the back of increased domestic production and continued growth in consumption. ...