USDA Grains: World Markets and Trade
12 February 2015
USDA Grains: World Markets and Trade - February 2015
India and Thailand Drive Record Global Rice Trade in 2014
Global rice trade expanded 9 percent to a record 43 million tons in 2014, supported by abundant exportable supplies in India and Thailand, lower prices, and strong demand. With a record crop and large stocks, India actively pursued markets overseas. Thailand also aggressively sought export opportunities to reduce massive stocks from the discontinued Paddy Pledging Scheme. Competition from these two countries pushed prices down and stimulated imports, but squeezed opportunities for other exporters, especially Vietnam, Pakistan, and the United States.
For 2015, global trade is forecast to be marginally lower as India’s smaller crop and use in the Public Distribution System are expected to curb exports. Increased trade by Vietnam, Pakistan, and the United States are expected to partially offset the slowdown from India. Thailand’s exports are forecast to remain strong due to government-led sales. The impact from ongoing dry weather on exportable supplies is expected to be minimal as the country has ample stocks. Global trade is forecast to remain strong spurred by declining prices.
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