Rice production in India, the second-largest grower, is set to climb to a record after local prices were raised, potentially allowing the nation to sustain exports for a second year and swelling a global cereal glut.
The monsoon-sown harvest may gain 10 percent in the year beginning July 1 from 90.8 million metric tons a year earlier, said Tarsem Saini, president of the Federation of All India Rice Millers Association. An end to a three-year ban on exports last year and a forecast for normal rain will spur farmers to increase planting, he said. The monsoon crop, sown from this month, accounts for about 80 percent of annual output.
No comments:
Post a Comment