Rice Production & Paddy Consumption in December of 2012

By CnAgri2013-01-25 10:52:30 Print  Rice production by medium and large mills (each with a sales revenue of more than RMB20 million/year, same below) registered 12.754 million MT in December, 12% more than the month before and 33.63% more than the same period of the previous year. Rice production totaled 109.133 million MT in 2012, an increase of 23.23% on the year-on-year basis. The promulgated figures showed a rice production increase rate of 33.7% in December and 23.3% in 2012, both on the year-on-year basis.
 
At a rice/paddy ratio of 68%, the medium and large mills consumed about 18.756 million MT paddy in December and 170.032 million MT in 2012. Rice production and paddy consumption by mills of various scales were estimated to be 14.352 million MT and 21.106 million MT respectively in December.
 
Small mills ran at 15.2% of their capacity and medium and large mills at 66.8% in December.
 
Paddy consumption for various uses was 23.006 million MT in December. Paddy inventory was 175.3 million MT at the end of December, parallel to the same period of the previous year. Paddy consumption index was 7.6 in December, below the same period of the previous year.
 
Of the paddy inventory in December, 60 million MT were state reserve, 20 million MT were rice mills’ stock and 11.5 million MT were traders’ stock, 34.1%, 12% and 6.6% of the total respectively. On-farm stock accounted for 47.3% of the inventory. Farmers sold 62.35% of their paddy by December.
 
Paddy production and consumption are predicted to be 203 million MT and 202 million MT respectively in 2012/2013. Rice imports during July ~ December equaled to 1.715 million MT paddy. Paddy imports are estimated to be 2.475 million MT in 2012/2013, an increase of 15% on the year-on-year basis. Monthly paddy imports are predicted to drop to 100,000 MT in the second half of 2012/2013. Year-end paddy inventory is predicted to be 87.15 million MT.
 
Paddy price averaged RMB2,720/MT in December and RMB2,746/MT in the second half of 2012, up 3.67% and 7.29% respectively on the year-on-year basis. 2012/2013 may see paddy price move up 5 ~ 7.5% to a level of RMB2,799/MT.

     

From “China Grains Market Weekly Report”