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Global rice production in 2010/11 is forecast at a record 450.7 million tons (milled basis), according to the latest Rice Outlook report.

The forecast is down 0.8 million tons from last month’s forecast, but still more than 2 percent larger than a year earlier, said the U.S. Department of Agriculture’s Economic Research Service report issued last Monday.

On the import side, 2011 projections were lowered for the Philippines, Madagascar, and Thailand.

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Courtesy: Malaya Business Insight

15th April 2011