Vietnam Agriculture Ministry: World Food Market to See Scarcity Next Year
The Vietnamese Ministry of Agriculture and Rural Development has forecast that the global rice market will continue to face scarcity.
The MARD said rice is main food of the world, which cannot meet demand of growing population, and the global crisis is pushing many of them into poverty trap and investments into agricultural sector will be restricted.
People in developing countries increase rice consumption instead of expensive food and foodstuff including vegetable, fruit and meat.
The global demand for rice is forecast to hit 426 million tons next year, up 1 per cent on year while the world’s rice exporters including Thailand and India plan to increase rice reserves for food security, MARD said.
Supply of rice is estimated at 29.5 million tons, up 1 per cent from a year ago, but 8 per cent lower than the record level in 2007. (Capital Security)
Vietnamese
