Global rice production in 2021-2022 forecasted to be record high

In the latest report of the US Department of Agriculture (USDA), global rice production is forecasted to reach record high.

According to Vietnam Industry and Trade Information Center - Ministry of Industry and Trade, in the August report, the US Department of Agriculture (USDA) forecasted global rice production in the 2021/2022 crop year will be 507.5 million tons (milled basis), an increase of 1.4 million tons compared to the prior projection and 1.6 million tons higher than the 2020/2021 crop year.

In particular, USDA raised its rice production forecast for Bangladesh, Brazil, Indonesia, Sri Lanka, Taiwan (China) and Vietnam, but reduced production forecast for Cuba, Kazakhstan, Russia and the US.

Compared with the previous crop year, rice production of Argentina, Australia, Bangladesh, Myanmar, Cambodia, mainland China, Ivory Coast, Guinea, Guyana, Laos, Mali, Mexico, Nicaragua, Nigeria, South Korea, Paraguay, Peru, Thailand, Uganda and Uruguay are forecasted to account for most of projected production increase in 2021/2022, with China and Thailand seeing the biggest increases.

In contrast, rice production is projected to reduce compared to the same period for Colombia, Ecuador, Egypt, EU, India, Iraq, Kazakhstan, Madagascar, Philippines, Russia, the US and Vietnam. India and the US will see the biggest reduction although India's production will remain the second highest level ever

Global rice consumption and loss in 2021/2022 is forecasted to be a record 514.3 million tons, up 0.3 million tons from the forecast in July and up 7.6 million tons over the same period last year. In particular, USDA raised its forecast for Bangladesh, Myanmar, Iraq, Sri Lanka and Taiwan (China) but lowered production forecast for Brazil, mainland China, Cuba, EU and the US.

In comparison with the prior crop year, mainland China accounted for the bulk of the increase in the global rice consumption and loss in 2021/2022, increasing by 5.4 million tons to a record 155.7 million tons. Almost of this increase comes from animal feed production and industries.

Rice consumption and loss in Bangladesh, Myanmar, Cambodia, Colombia, Ethiopia, Ghana, Guinea, India, Nepal, Nigeria, Pakistan, Philippines, Sri Lanka, Tanzania, Thailand and Vietnam is projected to increase in 2021/2022.

In contrast, rice consumption and loss is projected to reduce for Japan and South Korea mainly due to dietary diversification and food trend for many years and low population growth or even decline.