Global consumption for 2016/17 is projected at a record 478.
2017-06-21
Global consumption for 2016/17 is projected at a record 478.6 million tons, up 0.8 million tons from the previous projection and almost 2 percent above a year earlier. The largest upward revision in 2016/17 consumption this month was for South Korea, where total use (including a residual component) was increased 216,000 tons to 4.7 million tons. This was based on the Government of Korea’s recent announcement of the approval of the use of 470,000 tons of rice stocks for feed in 2017, up more than 500 percent from 2016. In addition, the UAE’s 2016/17 consumption forecast was increased 140,000 tons to a record 750,000 tons based on a larger population of guest workers from Asia. Kazakhstan’s consumption was raised 46,000 tons to 266,000 tons due to much larger supplies. On an annual basis, India, Thailand, and the United States account for most of the expected increase in 2016/17 global rice consumption.
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