More rice harvests predicted in Thailand, several others in the world in 2012

BANGKOK, May 5 (TNA) - The United Nations Food and Agriculture Organization (FAO) has forecast more rice produce in Thailand and several other rice growing countries in the world 2012, as erratic climate conditions caused by the La Nina weather phenomenon are dissipating and farmers are increasing their harvests. The Rome-based FAO said in its Rice Market Monitor report publicly released on Friday that global paddy produce is likely to reach 732.3 million tons this year, or 488.2 million tons on a milled basis, an increase by some 1.7 per cent or 12.3 million tons from last year, with a larger amount of grain harvests foreseen in Asia, where rice is the staple food. The FAO report particularly indicated that promising rice harvests are expected in Thailand, Myanmar, the Philippines, Bangladesh, China, India and Pakistan, as well as Indonesia, Malaysia and Sri Lanka. According to the FAO report, beyond Asia, rice harvests should also rebound in Africa, led by Mali, Senegal and Nigeria, but fall in the European Union (EU), the United States and in Latin America and the Caribbean. The FAO projected, however, that world rice trade will drop by about 2 per cent from last year, or some 900,000 to 34.3 million tons, as grain supply will be sufficient for domestic consumption for several rice producing nations, especially those in Asia. (TNA)