The world’s rice mountain is set to rise to a record for the tenth consecutive year as government schemes for rice farmers have led to ballooning state reserves in Thailand and China, according to the UN Food and Agricultural Organization.
Rice is the primary staple for more than half the world’s population, and state subsidies are widespread among rice growers. Policies encouraging farmers to produce more rice through buying schemes as well as direct subsidies have led to the build-up.
The global rice hoard is forecast to rise 3 per cent to 183m tonnes in 2014 as China, Thailand and Vietnam are expected to increase their stockpiles, according to the FAO’s twice-yearly review of global agricultural markets.
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