Paddy Balance Sheet Update in Oct. 2013

By CnAgri2013-12-02 11:31:27 Print

Rice production by medium and large mills registered 10.937 million MT in Oct., 7.6% more than the month before and 9.29% more than the same period of last year. rice production totaled 94.571 million MT in Jan. ~ Oct., an increase of 11.27% on the year-on-year basis. At the rice/paddy ratio of 68%, medium and large mills consumed 16.083 million MT paddy in Oct. and 139.075 million MT in Jan. ~ Oct.

Deducting repetitive statistics and taking into account of rice production by small mills, BOABC estimates that rice production and paddy consumption were about 11.058 million MT and 16.262 million MT respectively in Oct. Small mills ran at 12% of their capacity and medium and large mills 37.9%.

Paddy consumption for various uses was estimated to be 18.2 million MT in Oct.

Rice imports and exports were 140,900 MT and 42,000 MT respectively in Oct., equal to 207,000 MT paddy and 62,000 MT paddy respectively.

Paddy inventory was 194 million MT at the end of Oct., suggesting a monthly consumption index of 10.7, both above the same period of last year, attributable to increased rice imports.

Paddy inventory in Oct. consisted of 59.83 million MT state reserve, 12.2 million MT rice mills’ stock, 11.3 million MT traders’ stock and 110.54 million MT on-farm stock.

Japonica, semilate Indica and early Indica prices were RMB3,065/MT, RMB2,625/MT and RMB2,650/MT respectively in Oct., up 5.23%, down 3.18% but up 0.81% respectively on the year-on-year basis. Indica price decline was a seasonal decline following Indica harvest.

Planted paddy acreage and paddy production are about 30.73 million hectares and 205.2 million MT in 2013/2014, up 1.97% and 0.47% respectively on the year-on-year basis. Paddy consumption and year-end inventory are estimated to be 208 million MT and 88.726 million MT, suggesting a safety index of 42.85%




From “China Grains Market Weekly Report”