Bangladesh, other three countries to buy less rice on good harvest

Bangladesh, other three countries to buy less rice on good harvest: "Bangladesh, Indonesia, the Philippines and Turkey are foreseen to buy less after harvesting good crops, according to Food and Agriculture Organisation (FAO)'s latest forecast.

In contrast, Afghanistan, China mainland, the Islamic Republic of Iran, Iraq, the Democratic Republic of Korea, Saudi Arabia, the United Arab Emirates and Yemen are expected to import more, often to cover production shortfalls, but also to reconstitute national food reserves, it notes.

The global rice trade in 2009 is expected to marke a rise against that of the previous year. At the same time, there will be an increase in world imports influenced by low prices relative to the previous year, the forecast says.

The forecast indicates that world rice trade in 2009 now points to a volume of 31 million tonnes, 200 000 tonnes more than in 2008, but still short of the 2007 record.

It, however, sees much uncertainty as to the effects of the downturn of the world economy on the volume and nature of rice transactions in 2009. Given more difficult access to credit and lack of confidence over the financial situation of trade players, one possible effect could be an intensification of barter and government-to-government deals, it witnesses."