In its most recent monthly crop monitoring report released late November, the International Grains Council (IGC) has raised the estimate for world rice production in the 2018/19 cycle to 491 million tonnes, a million tonnes above the forecast for the October paper.
On the same basis of comparison, the board maintained the projection for global grain trade in the 2018/19 crop by 49 million tons.
In November’s forecast, the IGC increased by one million tonnes the estimated global consumption in the 2018/19 season, now projected at 493 million tonnes.
According to the November estimate, global inventories at the end of the 2018/19 period are expected to be around 125 million tonnes, one million more than forecast in the October document.
This text was translated by machine from Brazilian Portuguese.