Rice Production & Paddy Consumption in July

By CnAgri2013-08-26 11:06:22 Print Rice production by medium and large mills registered 9.31 million MT in July, 12.9% less than the month before but 4.71% more than the same period of last year. Rice production totaled 63.669 million MT in January ~ July, an increase of 13.84% on the year-on-year basis.
 
The promulgated figures showed a 4.1% rice production increase in July and 11.94% in January ~ July, both on the year-on-year basis.
 
BOABC estimates that medium and large mills consumed about 13.692 million MT paddy in July and 94.726 million MT in January ~ July. Deducting repetitive statistics and considering small mills’ production, BOABC estimates that the nation’s rice production and paddy consumption were 9.373 million MT and 13.784 million MT in July.
 
Small mills ran at 7.3% of their capacity and medium and large mills 39.3% in July.
 
Paddy consumption for various uses was estimated to be 15.759 million MT in July. Paddy inventory was 101.8 million MT at the end of July, suggesting a monthly consumption index of 6.5, both above the same period of last year, attributable to increased rice imports.
 
The July inventory consisted of 54.64 million MT state reserve, 9.65 million MT rice mills’ stock, 7.7 million MT traders’ stock and 29.79 million MT on-farm stock.
 
Paddy production, imports and consumption are estimated to be 203 million MT, 3.6 million MT (calculated by rice imports) and 207.7 million MT respectively in 2012/2013. Year-end paddy inventory is about 88.488 million MT, suggesting a safety index of 41.93%.
 
Japonica, semilate rice and indica prices were RMB2,974/MT, RMB2,625/MT and RMB2,624/MT respectively in July, up 2%, down 4.76% but up 5.07% respectively on the year-on-year basis.
 
In the 2013/2014 crop year, planted paddy acreage and paddy production are predicted to be 30.706 million hectares and 206.6 million MT, 1.61% and 1.58% more than the previous year respectively. Paddy consumption and year-end inventory are predicted to be 207 million MT and 89.975 million MT respectively, suggesting a safety index of 43.52%. rice imports are presumed to stay high because of the big price gap.



From “China Grains Market Weekly Report”