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Record rice will ease price pressure - USDA

Rice production is expected to rise in many areas this year (IRRI)
Rice production is expected to rise in many areas this year
IRRI

The world's grain producers will enjoy bumper harvests this year, the US government has predicted, with higher prices and favourable weather contributing to a boom in wheat and rice production. The Agriculture Department (USDA) expects the world's wheat harvest to rise by eight per cent this year to a record 656 million tonnes, and rice yields to rise to 432 million tonnes. This, it believes, will ease pressure on food and feed prices around the world and replenish global stockpiles. However, it predicts Myanmar's rice harvest will be down seven per cent to around ten million tonnes after Cyclone Nargis struck the country's rice-growing region in May, damaging crops and destroying stored grain.

Date published: July 2008

 

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