USA – WASDE RICE: DOMESTIC ENDING STOCKS AT 3 DECADE HIGH DESPITE RECORD EXPORTS


Source: AGFAX

11/04/2017 – U.S. rice ending stocks for 2016/17 are lowered 3.0 million cwt on increased exports; at 49.1 million cwt, these would still be the largest all rice ending stocks since 1986/87. The 3.0-million-cwt export increase is all rough rice, which is record large at 46.0 million cwt, but split with 2.0 million for long-grain and 1.0 million for medium- and short-grain.

 

Global 2016/17 rice supplies are raised 0.8 million tons on increased production. The primary increase is 0.6 million tons for Indonesia on favorable weather. The Pakistan crop is raised 0.2 million tons, while Burma production is lowered 0.1 million tons.

 

Global consumption is raised 0.4 million tons led by a 0.3-million-ton increase for Indonesia reflecting the larger crop. Global imports are adjusted lower with cuts to Indonesia and Saudi Arabia.

 

Exports are lowered slightly with reductions for Egypt and Pakistan offsetting the increase for the United States. With supplies rising faster than total use, global ending stocks are increased 0.4 million tons to 118.1 million, the largest since 2001/02.

 

Full report.