Gold Silver Reports — MY2017/18 rice production is expected to recover to historical levels with forecasted production of approximately 19.5 million metric tons.This would be a 5 percent increase from MY2016/17 as reservoirs are well above critically low levels that hindered MY2016/2017 rice production.
The government is likely to sell all of the remaining 2.9 million metric tons of food-quality rice stocks in 2017 which will help maintain Thai rice export volumes. The sale of non-food quality government rice stocks is anticipated to increase the use of broken rice by the feed and ethanol industries in 2017 and 2018.Government stocks are expected to decline to 1-2 million metric tons by the end of MY2017/2018. — Neal Bhai Reports
