17th June, 2014 Daily Exclusive ORYZA E-Newsletter by Riceplus Magazine

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TOP Contents - Tailored for YOU
Latest News Headlines
Old Crop Italy Paddy, Rice Quotes Soften Ahead of New Crop
Thailand Junta Halts Rice Deliveries, Inspects Warehouses amid Rumors of Missing Rice
Oryza U.S. Rough Rice Recap - Cash Offers Rebound with Futures as Bids Hold Steady
Oryza Global Rice Quotes
Third Phase of IRRI's Smart Rice Production Work Underway
Oryza Overnight Recap - Chicago Rough Rice Futures Continue to Rally in Morning Session
Philippines NFA Expects Domestic Rice Prices to Increase by 5% during 2014 Lean Season
Taiwan to Open Global Tender for 1,000 Tons of Milled Short-Grain Glutinous Rice, Reports USDA
Post
India Will not Impose Ban or Quantitative Restrictions on Non-Basmati Rice Exports to Bhutan
USDA Forecasts MY 2014-15 Global Milled Rice Production at Record 480.7 Million Tons; Slightly
Above Last Year
Oryza Rice Currency Analysis for Today India Rupee Down 0.7%
Why Do Rice Import-Dependent Countries Place Tariffs on Rice?
Oryza Afternoon Recap - Chicago Rough Rice Futures Finish with Mixed Results as Old Crop Continues
to Rally; New Crop Contracts Weighed Down by Bearish Grains
Three Decades of Conflict and Sanctions Have Left Its Toll on Iraq's Agricultural Sector
Indonesia BULOG to Release Medium Quality Rice from Buffer Stocks to Control Prices Ahead of Holy
Month
USDA Forecasts 2015 Global Milled Rice Trade at Record 41.3 Million Tons; Up 1.5% from Last Year

News Detail
Old Crop Italy Paddy, Rice Quotes Soften Ahead of New Crop


Jun 16, 2014
Week after week, Italian rice paddy prices continue to mostly decline due to dwindling supplies and steady
imports. Meanwhile five rice varieties quoted by Milan Grain Exchange have no quotations: Baldo, Sant'Andrea
and Padano-Argo, and now also Arborio-Volano and Lido varieties.
Below are farm gate paddy quotes from the Milan Grain Exchange, as of June 10:

Arborio-Volano rice received no quotations. The last quotes go back to May 13, when it was shown around
660-680 euros (about $895-922) per ton.

Balilla paddy prices are slightly increasing, at about 255-265 euros (about $ 346-359) per ton, up from 225-265
euros (about $ 305-359) per ton a week earlier.

Lido and similar paddy varieties received no quotations. Last time they were quoted goes back to May 13, when
they were indicated at around 350-370 euros (about $ 475-502) per ton.

Padano or Argo paddy varieties have no price indications available, due to low availability.

Vialone Nano indications are increasing at 925-950 euros (about $1,255-1,289) per ton, up from 915-950 euros
(about $ 1,241-1,289) per ton a week earlier.

Thai Bonnet and similar Indica varieties are slightly decreasing, at 220-230 euros (about $ 298-312) per ton,
down from 225-235 euros (about $ 305-318) euros per ton a week prior.

Sant'Andrea received no quotations since availability is really low.

Ariete and similar varieties are shown 360-400 euros (about $ 488-542) per ton, down slightly from 370-410
euros (about $ 502-556) per ton a week prior.

Baldo received no quotations.

Roma is declining at 555-575 euros (about $ 753-780) per ton, down from 580-600 euros (about $787-814) per
ton from a week earlier.

Selenio is firm at 260-280 euros (about $352-380) per ton, unchanged from last week.

Also Carnaroli keeps descending, reaching 555-575 euros (about $753-780) per ton level, down 25 euros (about
$ 33) from 580-600 euros (about $787-814) per ton a week prior.
Tags: italy paddy prices, italy rice prices


Thailand Junta Halts Rice Deliveries, Inspects Warehouses amid Rumors of Missing
Rice
Jun 16, 2014
The Thai military government is inspecting 1,800 warehouses, according to local media, after the Finance
Ministry reported that 2.9 million tons of rice is missing from government stocks. The Commerce Ministry
denies the rice is missing and says it is in route from mills to warehouses.In addition, Thailands rice exports
have been interrupted by the governments decision to halt deliveries and take account of all rice stocks.

Tags: thailand junta, Thailand rice stocks, thailand corruption, Thailand rice exports. Iraq rice imports

Oryza U.S. Rough Rice Recap - Cash Offers Rebound with Futures as Bids Hold
Steady
Jun 16, 2014
As of today, old crop offers increased to around $15.75 per cwt fob farm (about $347 per ton) for June-July
shipment although most are holding out for at least $16.11 per cwt fob farm (about $355 per ton).Bids from
exporters were seen steady today near $15.50 per cwt (about $342 per ton) for June delivery while smaller mills
are still bidding near $16.00 per cwt (about $353 per ton) for the same delivery period; however, no trades were
reported.In the meantime, the USDA estimates that as of June 15th, 99% of the U.S. rice crop had emerged
which was 2% ahead of this time last year and 3% ahead than the previous 5-year average.

As of now, the USDA estimates that 100% of the rice crop in Arkansas has emerged compared to 95% in
California, 99% in Louisiana, 96% in Mississippi, 100% in Missouri, and 100% in Texas.The USDA also
considers 69% of the U.S. crop to be in good-to-excellent condition, which was unchanged for the second week
in a row, compared to 58% in Arkansas, 85% in California, 82% in Louisiana, 81% in Mississippi, 61% in
Missouri, and 56% in Texas.
Tags: U.S. rice prices; U.S. rice market

Oryza Global Rice Quotes
June 16th, 2014
Long grain white rice - high quality
Thailand 100% B grade 395-405
Vietnam 5% broken 400-410
India 5% broken 430-440


Pakistan 5% broken 445-455
Cambodia 5% broken 435-445
U.S. 4% broken 575-585
Uruguay 5% broken 625-635
Argentina 5% broken 620-630

Long grain white rice - low quality
Thailand 25% broken 350-360
Pakistan 25% broken 385-395
Cambodia 25% broken 405-415
India 25% broken 385-395
U.S. 15% broken 550-560

Long grain parboiled rice
Thailand parboiled 100% stxd 420-430
Pakistan parboiled 5% broken stxd 435-445
India parboiled 5% broken stxd 400-410
U.S. parboiled 4% broken 660-670
Brazil parboiled 5% broken NQ
Uruguay parboiled 5% broken NQ

Long grain fragrant rice
Thailand Hommali 92% 965-975
Vietnam Jasmine 550-560
India basmati 2% broken NQ
Pakistan basmati 2% broken NQ
Cambodia Phka Malis 860-870

Brokens
Thailand A1 Super 310-320
Pakistan 100% broken stxd 325-335
Cambodia A1 Super 350-360
India 100% Broken stxd 310-320
Egypt medium grain brokens NQ
U.S. pet food 470-480
Brazil half grain NQ

Medium grain milled
U.S. Calrose 4% broken 1070-1080
Egypt medium grain 6% NQ

All prices USD per ton, FOB vessel, oryza.com


Third Phase of IRRI's Smart Rice Production Work Underway
Jun 16, 2014

The Bill and Melinda Gates Foundation is providing US$32.7mn for the third phase of production of
International Rice Research Institute (IRRI)'s stress-tolerant rice for Africa and South Asia (STRASA) for five
years. As part of the STRASA project, ten million farmers in South Asia and Africa in about 2.5 million
hectares of rice land are using IRRIs stress-tolerant rice varieties. The STRASA project which started in 2007
has completed two phases and began the third phase in May in India.

The IRRI released 16 climate-smart rice varieties which are tolerant to floods, drought, cold temperatures, and
salinity in South Asia; and released 14 varieties in Sub-Saharan Africa, according to the STRASA Project
Leader. The project also trained nearly 74,000 rice farmers in the two regions in good-quality seed production,
adding that nearly 140,000 tons of climate-smart seeds have been produced so far.

Tags: Smart rice, Production, Gates Foundation
Oryza Overnight Recap - Chicago Rough Rice Futures Continue to Rally in Morning
Session

Jun 16, 2014
Chicago rough rice futures for Jul delivery were paused 20.5 cents per cwt (about $5 per ton) higher at $14.715
per cwt (about $324 per ton) as of 8:45am Chicago time. The other grains are seen mixed this morning in early
floor trading in Chicago: soybeans are currently seen about 0.7% higher, wheat is paused 0.5% higher, and corn
is noted about 1.1% lower. U.S. stock index futures turned slightly higher on Monday in the wake of the S&P
500's largest weekly decline since early April, as investors tracked activity on the corporate deal-making front
and developments in Iraq.

The International Monetary Fund cut its growth outlook for the U.S. conomy and said the Federal Reserve
could hold interest rates at zero for longer than investors anticipated. Investors also monitored geopolitical
unease in Ukraine after Russian natural gas exporter Gazprom reduced supplies to Ukraine after the Ukrainian
government did not meet a deadline to pay its gas debts in discord that could hinder gas exports to Europe.
Erasing a 52-point decline, the Dow Jones Industrial Average rose 3.7 points to 16,779.44. The S&P 500 also
cleared initial losses, up 3.37 points, or 0.2%, at 1,939.53, with energy rising the most and financials hardest hit
among its 10 sectors. The Nasdaq rose 10.80 points, or 0.3%, to 4,321.49. U.S. stock index are currently trading
about 0.1% higher, gold is currently trading slightly lower, crude oil is seen trading about 0.1% higher, and the
U.S. dollar is currently trading about 0.1% lower at 8:45am Chicago time.
Tags: U.S. rice prices; U.S. rice market; Chicago rough rice futures


Philippines NFA Expects Domestic Rice Prices to Increase by 5% during 2014 Lean
Season

Jun 16, 2014
The National Food Authority (NFA) of the Philippines is expecting domestic rice prices to increase by about
5%, or P2 per kilogram (around $45 per ton) during the 2014 lean season (July - September), according to local
sources. Currently, domestic prices of regular milled rice stand at about P40 per kilogram (around $909 per
ton), while those of well-milled rice is about P42 per kilogram (around $955 per ton).According to data from
the UN's Food and Agricultural Organization, last year, average prices of regular-milled rice increased from
P28.6 per kilogram (around $670 per ton) in June to P34.5 per kilogram (around $790 per ton) in September,
which again declined to P33 per kilogram (around $760 per ton) in October. Similarly, average prices of well-
milled rice increased from P31 per kilogram (around $720 per ton) in June to P36.5 per kilogram (around $830
per ton) in September, which again declined to P34.5 per kilogram (around $800 per ton) in October.

The NFA Spokesperson told local media sources that the price increase is expected to start in mid-June and
continue till mid-September. He noted that the price increase was temporary and that prices would stabilize
once the harvest for the ongoing crop begins in September.He noted that the NFA was assessing the need to
increase supply in the market to stabilize prices , as well the effect of El Nino on upcoming harvest in
September. Some agriculture groups are already criticizing the NFA and the Department of Agriculture of not
being able to check prices despite importing 800,000 tons of rice.Meanwhile, the NFA also assured public that
800,000 tons of 5% broken white rice imports from Vietnam have started arriving as per schedule.

The imports were intended to provide buffer stocks during the lean season. He noted that as of June 9, 2014,
around 459,400 tons of rice had been delivered at the designated NFA warehouses and the remaining 340,600
tons of rice will arrive on or before the end of August.The NFA Spokesperson denied charges by the Metro
Manila Vendors Alliance (MMVA) against the Agriculture Secretary and the former NFA Administrator of
striking a secret deal with Vietnam's state-owned export enterprises in finalizing the import contract. He
reiterated that the contract was based on an open bid and there was no scope for such misdoings.

Tags: Philippines rice imports, National Food Association (NFA)
Taiwan to Open Global Tender for 1,000 Tons of Milled Short-Grain Glutinous Rice,
Reports USDA Post
Jun 16, 2014
USDA Post reports that Taiwan will open a global tender for 1,000 tons of milled short-grain glutinous rice for
delivery on November 10, 2014.The rice was initially meant to be imported from the U.S, and Taiwan had
opened three tenders for the U.S-origin short-grain glutinous rice, but all the three tenders failed due to


uncompetitive bids. The first tender was held by Taiwan Council of Agriculture (COA) on April 15, 2014 for
delivery on May 10. However since there were no participants in the bid, it was again held on May 23, with a
change in tender terms.

The rice was supposed to be from the 2014 crop and the delivery date was changed to November 10, 2014.
However, the bid was rejected as only one participant participated in bid offering NT$40,900 (around $1,363)
per ton for 300 tons, but offered to supply entire 1,000 tons before November. The third tender was held on
June 10. Again only one participant bid for the rice contract offering NT$40,480 (around $1,349) per ton, and
the bid was rejected.
Now, Taiwan COA will open a fourth tender inviting bids for the same rice on a global basis, which means the
tender is not restricted to the U.S. exporters alone.

Average domestic milled short-grain glutinous rice in January - June 2014 stands at around N$44,700 (around
$1,489) per ton in Taiwan.USDA estimates Taiwan to produce around 1.13 million tons of rice and import
around 135,000 tons of rice in MY 2013-14 (January 2014 - December 2014) to meet a consumption need of
around 1.28 million tons.

Tags: Taiwan rice imports

India Will not Impose Ban or Quantitative Restrictions on Non-Basmati Rice
Exports to Bhutan
Jun 16, 2014
The government of India has announced that India will not impose any kind of ban or quantitative restrictions
on non-basmati rice exports to Bhutan, according to local sources.
The announcement came after India's new Prime Minister visited Bhutan to enhance trade ties with the
neighboring country.India non-basmati rice exports to Bhutan have been increasing since FY 2010-11 (April -
March). India exported around 10,539 tons of non-basmati rice to Bhutan in FY 2013-14, more than double of
around 4,814 tons exported in FY 2012-13, according to data from Agricultural and Processed Food Products
Export Development Authority (APEDA).

Tags: India rice exports basmati rice exports, non-basmati rice exports
USDA Forecasts MY 2014-15 Global Milled Rice Production at Record 480.7 Million
Tons; Slightly Above Last Year

Jun 16, 2014


USDA has forecasted global milled rice
production at record 480.7 million tons in
MY 2014-15, slightly up from an
estimated 477.5 million tons in MY
2013-14, according to the June Rice
Outlook report. USDA has not made any
monthly revisions to the global
production estimates in June 2014, from
its May 2014 estimates.The increase in
production is due to an expected increase
in global rice acreage to about 161.6
million hectares in MY 2014-15, up
about 800,000 hectares from about 161
million hectares in MY 2013-14. USDA
estimates the average global yield at 4.44
tons per hectare (rough-rice basis),
slightly up from last year.

USDA estimates East Asia milled rice production at 158.8 million tons in MY 2014-15, up 1% from an
estimated 157.2 million tons last year. USDA estimates South Asia milled rice production at 153.9 million tons
in MY 2014-15, down about 300,000 tons from an estimated 153.6 million tons last year. Southeast Asia is
estimated to produce a record 118.6 million tons of rice in MY 2014-15, up 1% from about 117.4 million tons
produced a year earlier. USDA estimates Sub-Saharan Africa to produce about 13.1 million tons of rice in MY
2014-15, up about 2% from about 12.8 million tons produced last year. USDA expects milled rice production in
South America to slightly decline to about 26.5 million tons in MY 2014-15 over last year due to decline in
paddy rice planted area.

USDA also expects Egypt, Australia, the European Union and the U.S.to increase production in MY 2014-
15.USDA estimates global rice consumption in MY 2014-15 at record 482.2 million tons, up about 1% from an
estimated 477.4 million tons in MY 2013-14 with Bangladesh, Brazil, Burma, China, India, Indonesia, the
Philippines, and the United States accounting for the bulk of the projected increase.The US agency estimates
MY 2014-15 global ending stocks at about 110.7 million tons, down about 1% from about 1% from about 109.6
million tons last year. It expects ending stocks of Thailand to remain high in MY 2014-15, while those of China
and India to decline this year.
Tags: global rice production

Oryza Rice Currency Analysis for Today India Rupee Down 0.7%
Jun 16, 2014


U.S. dollar index was down -0.16% from the open today, when it traded at 80.445 at the close.

Euro was stronger +0.18% by the close, trading around 1.3573 by end of day, after trading between an intraday
high of 1.3585 and low of 1.3517.

Thai baht was weaker -0.01%, trading at 32.360 at the close of business.

Indian rupee was weaker -0.65% at 60.1650.

Brazilian real was weaker -0.48% at the close of trading today, trading at 2.2350 reais per dollar.

Pakistan rupee was -0.26% weaker at 98.5268.

Vietnamese dong was +0.04% stronger at 21215.

Mexican peso was stronger +0.08% today, when it traded at 13.0336 pesos per dollar by the close of business.

Chinese yuan was weaker -0.22% at 6.2244.

Argentine peso was stronger +0.17% at 8.1160 pesos per dollar.
Tags: foreign exchange rates, rice currencies, Global rice trade

Why Do Rice Import-Dependent Countries Place Tariffs on Rice?
Jun 16, 2014
Many rice import-dependent countries complain that international rice prices are too high but in some countries,
domestic prices tend to be a lot higher than international prices. This is certainly the case in Ghana where
imported rice is subject to a 20% tariff plus 17.5% additional taxes due to VAT and other fees. In fact, the price
for imported rice can vary substantially even amongst neighboring countries. If we take the example of West
Africa, according to the Food and Agricultural Organization, the retail price for a kilo of rice in Senegal is
around $0.94 (which has an 11% tariff on rice), $1.15 per kilo in Togo and $1.67 in neighboring
Ghana.However, the tariff rates of countries fluctuate and can become negative if they are replaced by an
import subsidy. A lot of countries which had a tariff on rice did exactly this in 2008 when international rice
prices tripled within a year. They then placed the tariff back on rice when international prices began falling
again. But if it is the intention of these countries to keep rice prices low, why did they put tariffs on rice
immediately after the crisis?.

Protecting domestic rice farmers may seem like the most obvious answer and it certainly makes up part of the
explanation. But it is also important to bear in mind that many rice importing countries are very poor nations
and tariff fees make up a sizable portion of the governments revenues. But a factor even more important than


creating public revenues is that tariffs can be used by governments as a political tool to help stabilize domestic
prices. When international rice prices are low like they were for much of the 1990s and early 2000s tariffs can
be set higher to please the domestic rice industry as well as earning tax revenues. When international prices are
high tariffs can be reduced or even dropped and replaced with a subsidy if high domestic prices start fuelling
political or social instability. So tariffs give governments more leverage in setting domestic prices and can be
used for political purposes. Indonesia is preparing for national elections and keeping rice prices stable will
certainly be a major goal for the incumbent government.

Adam John
Tags: import tariffs, price stability, trade barriers, Global rice trade
Oryza Afternoon Recap - Chicago Rough Rice Futures Finish with Mixed Results as
Old Crop Continues to Rally; New Crop Contracts Weighed Down by Bearish
Grains
Jun 16, 2014
Chicago rough rice futures for Jul delivery settled 15.5 cents per cwt (about $3 per ton) higher at $14.665 per
cwt (about $323 per ton). Rough rice futures continue to grind higher on what is seen as short covering
following the recent selloff which saw price fall $1.50 per cwt (about $33 per ton) in a matter of weeks.
Technically the market has turned bullish and todays chart formation indicates a continuation to the upside for
tomorrows trading session. The other grains finished the day lower; soybeans closed about 0.3% lower at
$14.2175 per bushel; wheat about 0.9% lower at $5.8100 per bushel, and corn finished the day about 1.3%
lower at $4.4100 per bushel.

U.S. stocks fluctuated on Monday in the wake of the S&P 500's largest weekly decline since early April, as
investors tracked activity on the corporate deal-making front and developments in Iraq. The International
Monetary Fund cut its growth outlook for the U.S. economy and said the Federal Reserve could hold interest
rates at zero for longer than investors anticipated. The Iraqi government is trying to fend off Sunni Islamist
insurgents who took control of the north of the nation during the past week, with U.S. Secretary of State John
Kerry saying in an interview with Yahoo! News that the White House is willing to talk to Iran over the
deteriorating security conditions in Iraq. Oil prices trimmed an early rise after Bank of America called "highly
unlikely" the utter halt of Iraqi production of crude, with output concentrated in the southern side of Iraq.

Investors also monitored geopolitical unease in Ukraine after Russian natural gas exporter Gazprom reduced
supplies to Ukraine after the Ukrainian government did not meet a deadline to pay its gas debts in discord that
could hinder gas exports to Europe. After a 20-point gain and 52-point fall, the Dow Jones Industrial Average
was lately up 9.67 points, or 0.1%, at 16,785.41. The S&P 500 added 2.44 points, or 0.1%, to 1,938.60, with
utilities rising the most and financials hardest hit among its 10 sectors. The Nasdaq rose 8.29 points, or 0.2%, to
4,318.93.


Monday's economic data had the New York Federal Reserve's Empire State index of business conditions rising
to 19.28 in June, the strong since June 2010 and above the May level of 19.01.And, industrial production for
May rose 0.6% after a 0.5% drop the prior month. Another report, this one from the National Association of
Home Builders, had builder sentiment jumping four points in June to 49. Gold is trading about 0.1% higher,
crude oil is seen trading about 0.2% lower, and the U.S. dollar is seen trading about 0.1% lower at about
1:00pm Chicago time.Friday, there were 709 contracts traded, down from 1,299 contracts traded on Thursday.
Open interest the number of contracts outstanding on Friday increased by 85 contracts to 9,292.
Tags: U.S. rice prices; U.S. rice market; Chicago rough rice futures

Three Decades of Conflict and Sanctions Have Left Its Toll on Iraq's Agricultural
Sector

Jun 16, 2014
A potential standoff between the Iraqi military and the Islamic State of Iraq and the Levant (ISIL) in Bagdad
has seen food prices in the city double recently. This is the reality of the effect of conflict on peoples everyday
access to food not only in Iraq but wherever armed conflict exists.Despite growing a relatively small amount of
rice domestically, rice is in fact Iraqs second most important staple after wheat and Iraq was the fifth largest
rice importer in the world in 2013.In the 1980s, Iraq was categorized as a high middle income country and was
certainly one of the most developed countries in the Middle East. Three decades of conflict has left its toll on
the country.

To take one indicator of peoples wellbeing, Iraqi people now have a level of undernourishment which is similar
to some of the poorest countries in the world.

A study which used satellite imagery showed the impact that conflicts and sanctions have had on crop
cultivation in Iraq. It found that crop cultivation area changed little during the Iraq-Iran war (1980-1988) and
the Gulf War (1990-1991). The area for crop cultivation increased by 20 percent during the period of the United
Nations sanctions and then dropped to below 1991 levels during the Iraq war (2003-2011).

Rice cultivation has followed a similar pattern. In the 1980s until 1992, area harvested remained below 100,000
hectares but then exceeded 100,000 hectares throughout the rest of the United Nations sanctions period.
Perhaps unsurprisingly, at the same time of the sanctions, rice yields plummeted from around three tons per
hectare to below two. Despite the instability of the Iraq war in the following decade, rice yields shot back up in
the early 2000s and have exceeded three tones since 2009.While Iraqs oil industry dominates its economy, the
agricultural sector is still the countrys largest employer so developing the rice sector will play a role in
rebuilding the country once Iraq is able to escape the political and social conflict the country can suffered from
over the last 30 years.


Indonesia BULOG to Release Medium Quality Rice from Buffer Stocks to Control
Prices Ahead of Holy Month
Indonesia's state logistics company BULOG will release medium quality rice from its buffer stocks through
market operations to control prices ahead of the holy month of Ramadan, according to local sources.BULOG
Head told local media that they would start market operations after prices start increasing from next week.
Usually prices increase by at least 10% during this month owing to increased demand. BULOG sells rice at
below market prices during this month.Currently there are around 321,000 tons of medium-quality rice in
BULOG warehouses and the stock is estimated to be sufficient to meet the demand of around 200,000 tons
during the Ramadan month, and total stocks in BULOG stand at around 1.9 million tons, according to the
Agriculture Minister. Currently, the market price of medium-quality rice variety IR-64 is ruling at Rp 7,600 per
kilogram (around $644 per ton). A group of ministers including Coordinating Economic Minister, Trade
Minister, Agriculture Minister, and State-Owned Enterprises Minister, told local media that they were striving
hard to ensure supply of rice in markets across the country and keep prices stable during the holy month, which
would begin from June 28, 2014.

USDA Forecasts 2015 Global Milled Rice Trade at Record 41.3 Million Tons; Up
1.5% from Last Year
USDA has estimated 2015 global milled rice
trade at record 41.5 million tons, up about
1.5% from an estimated 40.7 million tons in
2014, in June Outlook report. There were no
monthly revisions this month to the 2015
import or export forecasts over May 2014
forecasts.On the exports side, USDA
estimates Thailand to reclaim its top
exporter status exporting about 10 million
tons of rice in 2015, up about 1% from an
estimated 9.9 million tons exported in 2014.
It also expects exports of Vietnam,
Cambodia, Egypt, Paraguay, Uruguay,
Venezuela and the U.S. to increase, while
those of Australia, Brazil, India and the
European Union to decline.On the imports
side, USDA forecasts China to remain top
rice importer in 2015, with importing about
3.7 million tons, up about 500,000 tons from
an estimated 3.2 million tons exported in
2014.The USDA reports that global rice
trade in 2014 is largely driven by increased
demand from Sub-Saharan Africa, Southeast Asia, and China.

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