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Global Rice Production Expected To Hit Record 518 Million Tonnes in 2022/23

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Global rice production in 2022/23 is expected to hit a record 518 million tonnes, slightly down from last month's forecast of 518.5 million tonnes, but up from 514.6 million the previous year, according to the latest report from the International Grains Council. tonnes increased by 0.7%.



Rice consumption is expected to hit an all-time high of 518.2 million tonnes, up 0.5% year-on-year, as population growth and rice prices are relatively lower than alternative grains, which support rice demand. Rice exports are forecast at 51.1 million tonnes, down slightly from last month's forecast of 51.2 million tonnes but unchanged from the previous year. Rice ending stocks are forecast at 181 million tons, unchanged from the previous year, as rising inventories in major exporters, mainly India, are offset by lower inventories in China.


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