Browse Data and Analysis

This report provides updates to the Korea Rice Production 2021 report issued by FAS/Seoul on November 22, 2021, based on new data released by the Korean Ministry of Agriculture, Food, and Rural Affairs (MAFRA) in December 2021.

Export rice prices increased 2-5 percent from the previous week.

Wheat production in marketing year (MY) 2021/2022 is estimated at a record 21.8 million tons, 1.3 million tons higher than the official USDA number. In consequence, exports are increased to 15.2 million tons (including flour in its wheat equivalent).

Post forecasts higher Burmese rice exports in January in anticipation of regular demand from China through official channels, increased broken rice demand from EU countries, and continued demand from the Philippines.

Australia is set for a second consecutive record grain crop following two years of drought. For the winter crops, wheat production is estimated to have reached another record in marketing year (MY) 2021/22 and barley production is expected to be the third largest in history, just slightly behind the previous year.

Rice export prices increased 5-6 percent mainly due to the strengthening of the Thai baht and new inquires.

Export prices of most grades of rice decreased one percent as the Thai baht weakens.

On November 24, 2021, the Indian government approved the extension of the additional free food grains scheme through March 31, 2022. With this extension, an additional 16 million metric tons (MMT) of grains will be released from government stocks.

Export prices of most grades of rice increased one percent due mainly to the strengthening of the Thai baht.

Given the pace of imports during the first six months of 2021/22, the wheat import forecast is reduced from 2.5 to 2 million tons. With harvest complete and better than expected yields, the 2021/22 rice production estimate is increased from 8.2 to a record 8.9 million tons.

This report provides trade data on Vietnam's monthly rice exports by grade and destination and weekly export quotes for rice by grade.

Export prices of most grades of rice remained unchanged despite the strengthening of the Thai baht.