USDA cuts 20/21 world milled rice output over low consumption forecasts from Nigeria, China, Brazil

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The US Department of Agriculture Aug. 12 lowered its forecast for 2020-21 global milled rice production by 2.1 million mt to 500 million mt.

In its latest World Agricultural Supply and Demand Estimates report, the USDA attributed the cut to reduced output prospects in China, Thailand and Vietnam.

Despite the lower forecast, this would still be a record high. While the forecast for global consumption has also been cut due to lower consumption forecasts for China, Brazil and Nigeria, it is still forecast at a record high 497 million mt.

In its latest World Agricultural Supply and Demand Estimates report, the USDA attributed the cut to reduced output prospects in China, Thailand and Vietnam.

Although the forecast for trade is lowered to 44.3 million mt due to reduced prospects for Thai and Chinese exports, this is a 6.8% year-on-year increase.

Ending stocks are forecast at a record 185 million mt, of which 63% are expected to consist of Chinese stocks and 21% of Indian stocks.

Source: Platts

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Samson Gbenga Salau [Editorial Board Adviser] Gbenga Samuel Salau is a professional journalist with over 17 years experience in journalism, he is a graduate of Communication and Language Arts, University of Ibadan. On completion of his youth service, he joined The Guardian as a freelance journalist and was later absorbed as a staff. While in the University, he was a campus journalist reporting for the Independence Hall and Faculty of Arts Press Clubs. As a campus journalist, he won the following awards; Independence Hall Press Best News writer; University of Ibadan Union of Campus Journalists’ Best News Reporter/Writer; First Runner-up, Reuben Abati Award for Investigative Journalism; Association of Faculty of Arts Students’ Press Best Reporter; University of Ibadan Union of Campus Journalists’ Best Political Writer; Winner, Reuben Abati Award for Investigative Journalism, and University of Ibadan Union of Campus Journalists’ Best Interviewer. He served the Association of Communication and Language Arts Students, as the Public Relation Officer, the same year he was appointed the News Editor of the Association of Faculty of Arts Students Press. The following session, he was made the General Editor, and a member of the 13-man University of Ibadan Students’ Union Transition Committee. As a reporter in The Guardian, in 2014, he won the Promasidor Quill Award Best Report on Nutrition and DAME Business Reporting category. In the 2015 edition of the Promasidor Quill Award, he won the best Report on Nutrition and Brand Advocate Categories, while in 2016, he won the NMMA Print Journalist of the Year, first runner-up Golden Pen Reporter of the Year and SERAs CSR Awards. Gbenga Salau loves traveling, reading, and listening to songs with good lyrics no matter the genre.

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