Rice price

Rice

Rice is a type of edible starchy grain and the grass plant that belongs to the Poaceae family which produces the grain. It is one of the most important food sources in the world. Almost all of Southeast and East Asia is dependent on rice as a staple food. Up to 95% of the total world’s rice crop is used as a source of food for humans. Rice grain is often served cooked by boiling but it can also be ground and used to prepare rice flour which can be further processed. It is eaten alone or used as a side dish for a variety of soups, stews, sauces, and more. It is a very important ingredient for many Asian and Middle Eastern as well as many other cuisines. Rice is also used in the production of other food products such as noodles, breakfast cereals, or even alcoholic beverages like traditional Japanese sake. The cultivated variety of rice is an annual grass that reaches up to 1.2 meters in height. It produces long and flattened leaves that are borne on hollow stems. The plant creates a fibrous root system that is often broad and tends to spread a lot. The plant creates cluster flowers that later turn into edible grains. Depending on the cultivated variety the grain may differ in terms of length, shape as well as weight. The cultivated variety also indicated the crop size and its quality. To stop world hunger some changes in the quality of rice have been developed in order to improve productivity and disease resistance. The variety has been named the miracle rice. It is characterized by minimizing the loss from drooping. It also can be grown despite the poor soil conditions and other factors. Rice is the main source of food in the world. It is an excellent source of several healthy minerals and antioxidants which may help to reduce the risk of heart diseases. However, in general, rice is low in nutrients and contains lots of sugar which significantly increases the risk of type 2 diabetes. Rice contains manganese, niacin, thiamin, selenium, and magnesium. It is also a good source of proteins. The world’s leading rice producer si China with a yearly crop reaching up to 146.73 million metric tonnes. China is followed by India with 118.87 million metric tonnes, Indonesia with 34.7 million metric tonnes, Bangladesh with 35.85 million metric tonnes, and Vietnam with 27.1 million metric tonnes. Each year the overall global production of rice has a growing tendency.

Global rice production

In 2016, global production of rice amounted to around 496 million metric tons. This was a significant increase from the previous year when production totaled only 471 million metric tons. The vast majority of the world's rice is produced in Asia, with China, India, and Indonesia being the top three producers. Together, these three countries account for over half of the world's total rice production. The increase in global rice production is largely due to higher production levels in China and India. In China, production increased by 4 million metric tons in 2016, while in India it increased by 3 million metric tons. Production levels in Indonesia remained relatively unchanged from the previous year. Global rice consumption is also on the rise, reaching a record high of 488 million metric tons in 2016. This is due to population growth and increased economic prosperity in many parts of the world. Asia is by far the largest consumer of rice, accounting for over three-quarters of total global consumption. China and India are the two largest consumers, accounting for nearly half of the world's total rice consumption. With global production and consumption both on the rise, the world's rice stocks are also increasing. At the end of 2016, global rice stocks totaled 172 million metric tons, up from 169 million metric tons at the end of 2015. This increase is largely due to higher stocks in China and India. The increase in global rice stocks is expected to help keep prices stable in the coming year. Rice is one of the most widely consumed grains in the world, and it plays a vital role in the diets of billions of people. Global production of rice has increased steadily in recent decades, reaching a record high of 769 million tonnes in 2019. The top three rice-producing countries are China, India, and Indonesia.