Maize(corn) futures may climb at National Commodity and Derivatives Exchange of India (NCDEX) as Indian poultry industry which consumes 50% of the domestic maize production is expected to grow at an annual rate of 20%, according to Associated Chamber of Commerce and Industry (ASSOCHAM).
Global rice production in the recent years has fluctuated between 375-400 million tons. Consumption at around 410 million tons has been above production in the recent years.
Global ending stocks, which had average above 120 million tons in the 1990's are currently getting reduced to 80 million tons. Asia is the biggest rice producer, accounting for 90% of the world's production and consumption of rice.
Per capita rice consumption has declined in recent years in many of the wealthier rice-consuming countries, such as Japan, the Republic of Korea and Thailand, because rising incomes have enabled people to eat more varied diet.
Although rice is widely grown and consumed, less than 6% of world production (20-24 million tons) is traded annually.
Major importing nations of rice are West Asian countries and African countries. Apart from them countries like Japan, Malaysia, and Brazil also figures in top 10 importing countries. In West Asia and Middle East, Basmati rice is a favorite. India is the major supplier in this category.
Though rice is cultivated largely in Asia its export originates mostly from other continents. Major rice exporters are Thailand, United States, Pakistan, Vietnam, India, Italy, Uruguay, Australia, China and Argentina.
The Western countries are not major producers, but their consumption is negligible. Thus, a significant portion of their produce is exported.
