Rice Production & Paddy Consumption in October

By CnAgri2012-11-23 11:05:17 Print

Rice production by medium and large mills (each with an annual sales revenue of over RMB20 million) registered 10.007 million MT in October, 4% more than the month before and 25.64% more than the same period of last year. Their rice production totaled 81.992 million MT in January ~ October, an increase of 21.02% on the year-on-year basis. The promulgated figures showed a rice production increase of 26.7% in October and 20.2% in January ~ October, both on the year-on-year basis. The increased production was accredited to mills’ capacity expansion and japonica price growth.

At a rice/paddy ratio of 68%, medium and large mills consumed 14.716 million MT paddy in October and 124.988 million MT in January ~ October.

Rice production and paddy consumption by mills of various scales were estimated to be 11.539 million MT and 16.969 million MT in October.

Small mills ran at 12.6% of their capacity and medium and large mills 52.4% in October.

Paddy consumption for various uses was about 18.853 million MT in October. Paddy inventory was 183.7 million MT at the end of October, slightly more than the same period of last year. Monthly paddy consumption index was 9.8 in October, slightly below the same period of last year, attributable to increased consumption in October.

Semilate paddy procurement recorded 7.355 million MT by October, of which 2.77 million MT were procured by state-run companies. Total paddy procurement was 16.13 million MT by October, of which 6.84 million MT were procured by state-run companies.

Paddy inventory in October consisted of 46.67 million MT state reserve, 6.7 million MT commercial stock, 18.77 million MT rice mills’ stock and 53.49 million MT on-farm stock. Farmers sold 50.08% of their paddy by October, 10% more than the same period of last year.

According to the National Bureau of Statistics, China’s paddy production is 201 million MT in 2011/2012.

In the 2012/2013 crop year, paddy acreage, production and consumption are predicted to be 30.255 million hectares, 203.5 million MT and 203.6 million MT respectively, up 0.66%, 1.26% and 1.41% respectively on the year-on-year basis. Year-end paddy inventory is predicted to be 85.96 million MT, suggesting a safety index of 42.39%.

Paddy price was RMB2,786/MT in October and RMB2,755/MT in July ~ October, up 6.72% and 8.65% respectively on the year-on-year basis, all above protective procurement prices. Paddy price is predicted to average RMB2,799/MT in 2012/2013, up 5 ~ 7% on the year-on-year basis.


From “China Grains Market Weekly Report”