BANGKOK (Commodity Online): Due to higher production and low demand in the top rice importing regions, the rice trade is expected to drop 5% to 32.8 million tons on Year-on-Year in 2012, according to United Nations Food and Agricultureal Association.
Last year, the global rice exports touched 34.5 million tons and the major rice importers are Bangladesh, Indonesia, Nepal, Nigeria and the Philippines.
The global rice production is expected to increase by 21. 4 million tons to 721 million tons for 2011-12.while the consumption is expected to be around 471 million tons.
Thailand is the largest exporter of rice.
Meanwhile, India is expecting a bumper harvest and the production is estimated to be around 102 million tons.
