14.05.2008, 12:17 2799

World production of rice in 2008 will reach a record - FAO

According to the United Nations Food and Agriculture Organization (FAO), level of world production of rice this year will reach record parameters under favorable weather conditions. It will increase by 2.3 % in comparison with the last year and will make 666 million tons. However, the price for this product will remain high, the agency reports referring to the UN news center.

Almaty. May 13. Kazakhstan Today - According to the United Nations Food and Agriculture Organization (FAO), level of world production of rice this year will reach record parameters under favorable weather conditions. It will increase by 2.3 % in comparison with the last year and will make 666 million tons. However, the price for this product will remain high, the agency reports referring to the UN news center.

According to FAO, by the end of the year Asia, Africa and Latin America will harvest rich crop of rice.

FAO draws attention to the fact that since December, 2007 till April, 2008 price for rice has grown by approximately 76 %. The experts consider that despite of expected crop cost of this product will remain high, at least till the third quarter of 2008 as now stocks of rice are rather limited. World deliveries have been reduced as a result of restrictions introduced by the states-exporters. As of today, only Thailand, Pakistan and the USA have not introduced such restrictions.

UN Food and Agriculture Organization experts note that recent tropical hurricane has destroyed many crops of rice in Myanmar, which means that its authorities will import this product from the neighboring states, first of all, from Thailand and Vietnam, which will also affect world prices.

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