Rice production expected to improve

World paddy rice production is expected to improve by more than a million tonnes to 668 million tonnes thanks largely to improved harvests in India and some other major producers. The United Nations' Food and Agriculture Organisation (FAO), therefore, has raised its forecast of 2008
The 2008 world production is 1.5 percent higher than a record output of 658 million tonnes in 2007, FAO said.
"The abundant new 2007 paddy crops together with good prospects for the 2008 paddy season are easing the global rice market situation after world prices had jumped to record levels in April and May 2008," the Rome-based agency said.
World rice prices would remain under downward pressure in the next few months, especially if wheat prices kept falling. Though, import interest from Africa and Middle East would keep them from a sharp drop.