Rice Production & Paddy Consumption in May

By CnAgri2013-07-08 11:13:13 Print China’s rice production by medium and large mills (each with an annual sales revenue of over RMB20 million) registered 9.309 million MT in May, 4.4% more than the month before and 25.18% more than the same period of last year. Rice production by such mills totaled 44.4 million MT in January ~ May, an increase of 17.95% on the year-on-year basis.
 
The promulgated figures showed a rice production increase of 12.74% in May and 16.09% in January ~ May, both on the year-on-year basis.
 
At a rice/paddy ratio of 68%, medium and large mills consumed about 13.69 million MT paddy in May and 65.305 million MT in January ~ May.
 
Rice production and paddy consumption by mills of various scales were estimated to be 9.599 million MT and 14.116 million MT respectively in May.
 
Small mills ran at 8.9% of their capacity and medium and large mills 42.4% in May.
 
Paddy consumption for various uses was estimated to be 16.28 million MT in May. Paddy inventory was 102 million MT at the end of May, suggesting a monthly consumption index of 6.3, below that in the same period of last year.
 
The inventory consisted of 63 million MT state reserve, 11.3 million MT rice mills’ stock, 12 million MT traders’ stock and 16 million MT on-farm stock. Farmers sold 92.82% of their paddy by May.
 
Paddy procurement totaled 62.8 million MT in 2012, of which 36 million MT were procured by state-run companies.
 
Paddy production, imports, consumption and year-end inventory are estimated to be 203 million MT, 3.7 million MT (calculated by rice imports), 202 million MT and 92.65 million MT respectively in 2012/2013. suggesting a safety index of 46.03%.
 
Rice price was RMB2,710/MT in May and RMB2,731/MT between July of 2012 and May of 2013, up 1.62% and 4.26% respectively on the year-on-year basis.
 
In the 2013/2014 crop year, planted paddy acreage and paddy production are predicted to be 30.677 million hectares and 208 million MT, 1.63% and 2.53% more than the previous year respectively. Paddy consumption is predicted to be 204 million MT in the year. Year-end paddy inventory is predicted to be 98.99 million MT, suggesting a safety index of 48.28%.
 
Under the government’s protective procurement policy, rice price is predicted to rise 5 ~ 7% in 2013/2014 over the previous year to a level of RMB2,850/MT.






From “China Grains Market Weekly Report”