Notwithstanding extensive floods in Asia since August, FAO has raised its July forecast of global paddy production in 2011 by 2.4 million tonnes to 721 million tonnes. The revision reflects expected improved rice harvests in Bangladesh, China, Egypt, India and Viet Nam which more than outweighed a worsening of prospects in Indonesia, the Republic of Korea, Madagascar, Myanmar, Pakistan, the Philippines and Thailand.
At the current forecast of 721 million tonnes (481 m [...]
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