-
Mar 06, 2013
-
Rice Glut Expands With Farms Poised for Record Crop
Farmers are preparing to plant a record rice crop that will boost inventories held by the world’s biggest exporters to the highest ever.
Harvests will climb 1.2 percent to 472 million metric tons as the five largest shippers hoard 38 million tons, or a year of global imports, International Grains Council data show. Thailand may run out of warehouse space as reserves jump 40 percent to a record 18.2 million tons, according to the United Nations. Prices in Vietnam, an Asian benchmark, will drop 6.6 percent by December to $377.50 a ton, the lowest level since 2010, based on the median of 10 trader estimates compiled by Bloomberg.
Source -
http://www.bloomberg.com
|