Japan’s food rice stockpiles may reach the highest level in eight years at the end of June 2011, leading to a price drop and planting curbs by growers next year. Private and government inventories are forecast to climb 2.5% to 3.24 million metric tons from 3.16 million tons a year earlier, the Ministry of Agriculture, Forestry and Fisheries said in a report Wednesday.
Global production of rough rice, the staple for half the world’s population, may be 6 million tons less than estimated earlier this year after prolonged dry weather in the Mekong River region hurt crops, according to the United Nations Food and Agriculture Organization.
Mercosur rice planters will be meeting to decide a Brazilian proposal to increase the common external tariff thus preventing the introduction of rice from third countries, precisely this year when Brazil’s crop is expected to be below average.