Welcome to Panjin Zhongmin Rice Industry Co., Ltd.
National Sales Hotline:
Panjin Zhongmin Rice Industry Co., Ltd.
Boss: Liu Zhongmin Tel:
Responsible person: Zhao Qiang Tel:
Address: Xintun Village, Ping'an Township, Dawa County
Seat plane: +86-0427-8859999
Panjin White Rice-Global Rice Supply Tightening
1. Affected by tropical monsoon, Thailand, Vietnam and other Southeast Asian countries have suffered the worst floods in half a century. In the past two months, about 14% of the rice fields in Thailand have been flooded, and the global rice supply will be tight in the future.
2. Other exporting countries have limited export growth. The Indian government expects rice output to be around 10.2 million tons in 2011. It is willing to export some rice, but it is difficult to replace Thailand's export market share with the proposed increase, which can not meet the market demand. South America, Brazil and other countries due to lack of rain and water, reduced planting area, increase in exports will also be very limited.
1. Rice exports from Thailand and Vietnam have been affected. Thailand is the world's largest rice exporter, accounting for about 30% of global rice exports. The Thai government had expected a 3.3% increase in rice production in 2011, setting a record 25 million tons. After the floods, the production level is expected to drop to 21 million tons. Some experts believe that, as the flood has not yet ended, the actual loss of production is more serious than currently expected. According to the Thai Rice Export Association, Thai rice exports may fall by 30% in 2011 and only 8 million tons in 2012, which is lower than the expected level of the United States Department of Agriculture. As another rice exporter, Vietnam's government intends to reduce its total rice export by 7 million tons and 500,000 tons, although its rice output is not expected to decline significantly.
2. Rice, as the traditional staple food in Asian countries, accounts for a large proportion in the consumer price index. For example, rice weights about 3% in the consumer price index of Thailand and 9% in the Philippines. According to official data released by India, food inflation rose 11.43% on October 15 from a year earlier and remained high for six consecutive months, while food inflation in Bangladesh rose to 13.75% in September from 12.7% in August. The reduction of rice production due to disasters will push up the prices of domestic and international markets in Southeast Asian countries, which will face greater pressure on food inflation in the coming months.