Rice Production & Paddy Consumption in Aug.

By CnAgri2013-09-27 10:49:21 Print Rice production by medium and large mills registered 9.058 million MT in Aug., 2.7% less than the month before but 3.19% more than the same period of last year. Rice production totaled 73.472 million MT in Jan. ~ Aug., an increase of 12.41% on the year-on-year basis.
 
The promulgated figures showed a rice production increase of 0.97% in Aug. and 10.5% in Jan. ~ Aug., both on the year-on-year basis.
 
BOABC estimates that medium and large mills consumed about 13.322 million MT paddy in Aug. and 108.047 million MT in Jan. ~ Aug. Rice production and paddy consumption by mills of various scale were estimated to be 9.119 million MT and 13.41 million MT respectively in Aug., deducting repetitive statistics.
 
Small mills ran at 9.6% of their capacity and medium and large mills 31.4% in Aug.
 
Paddy consumption for various uses was estimated to be 15.386 million MT in Aug. rice imports and exports were 114,000 MT and 23,900 MT respectively in Aug., equal to 168,000 MT paddy and 35,000 MT paddy respectively.
 
Paddy inventory was 103.2 million MT at the end of Aug., representing a monthly consumption index of 6.7, both above the same period of last year, attributable to plenty of imports.
 
The inventory consisted of 58.83 million MT state reserve, 9.3 million MT rice mills’ stock, 9.7 million MT traders’ stock and 25.26 million MT on-farm stock.
 
Japonica, semilate and early Indica prices recorded RMB3,024/MT, RMB2,610/MT and 2,649/MT respectively in Aug., up 2.59%, down 4.94% but up 2.25% respectively on the year-on-year basis. Their prices were RMB2,999/MT, RMB2,618/MT and RMB2,636/MT respectively between July of 2012 and Aug. of 2013, up 2.3%, down 4.85% but up 3.78% respectively on the year-on-year basis.
 
Planted paddy acreage and paddy production are predicted to be 30.706 million hectares and 205.4 million MT respectively in 2013/2014, more than the previous year by 1.61% and 1% respectively. Paddy consumption is predicted to be 207.3 million MT. The wide price gap between home and abroad may cause rice imports to stay at a high level. Year-end paddy inventory is predicted to be 88.82 million MT, suggesting a safety index of 42.97%.
 
Under the support of protective procurement price, Japonica, semilate and early Indica prices are predicted to move up 2.5%, 4% and 3% respectively in 2013/2014.
 
   

From “China Grains Market Weekly Report”