Monthly forecast for world rice trade had lowered for 2000 to 22.04 million tonnes down 3,00,000 tonnes from its April forecast and down 12% from actual trade in 1999, as released by the US department of Agriculture. According to USDA, the world rice market report stated that global rice price, meanwhile would come under continued downward pressure during the rest of the year because of large supplies in nearly all the exporting countries. It reduced its forecast for India’s exports by 1,00,000 tonnes to 1.1 Mt. due to lower demand from key importers and uncompetitive prices as stated. |
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