Global Rice Production Estimate For 2022/23 Revised Down To 518.5 Million Tonnes

The latest report from the International Grains Council (IGC) shows that global rice production in 2022/23 is forecast at 518.5 million tonnes, down from last month's forecast of 519.6 million tonnes, but up 0.8% from 514.4 million tonnes in 2021/22.

Opening stocks of rice remain largely unchanged at 181.2 million tonnes. Global rice trade is forecast at 51.2 million tonnes, up from last month's forecast of 50.3 million tonnes and 51.2 million tonnes in the previous year. Rice ending stocks are expected to be 181.4 million tonnes, down from last month's forecast of 184.4 million tonnes and 181.2 million tonnes in the previous year.