http://www.resourceinvestor.com/pebble.asp?relid=43038
“Global rice prices may fall by the end of this year as newly harvested crops come to the market, according to Food and Agriculture Organisation of UN.
Global market conditions could ease as new crops are being harvested around the world, helping reverse the upward trend in prices, said the Rome-based Food and Agriculture Organization.
The UN is forecasting a rise of 2.3% in global rice production to a record 666 metric tonnes this year, helped by big output gains in Thailand, Bangladesh, China, Vietnam and the Philippines.
However, export bans by countries such as India and Vietnam will contribute to a 7% reduction in this year’s global rice trade to 28.8 metric tonnes.
Rice prices continue to rise globally on depleting stocks in many countries and export curbs put in by major exporting countries.
According to the FAO, the price pressure would remain high at least until October or November, when the bulk of this year’s paddy crops will reach market.”
