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NOMADMan BS: IsaacGate Obama's Levees Fail (129* d) RE: BS: IsaacGate Obama's Levees Fail 01 Sep 12


pdq, I am wondering about the source of your information regarding rice production/exports. The information as presented was *strange* to say the least.

Ordinarily, when stating production statistics for a fungible commodity like rice - or when stating quantities as traded in the international commodity markets, the quantities are stated in metric tons (tonnes) - 1,000 kilograms, equal to about 2,204.6 pounds per MT. Stating it in terms of numbers of hundred-pound sacks is simply bizarre.

To put things in context, here are the published statistics on rice production in metric tons for the top ten rice-producing nations for the year 2010, in order:

1) China - 197,212,010
2) India - 120,620,000
3) Indonesia - 66,411,500
4) Bangladesh - 49,355,000
5) Vietnam - 39,988,900
6) Myanamar - 33,204,500
7) Thailand - 31,597,200
8) Philippines - 15,771,700
9) Brazil - 11,308,900
10) USA - 11,027,000

In total, that's over 576 million metric tons produced by just the top ten producers, without taking into account the rest of the world.

The leading producer, not surprisingly, is China - far and away. The US clocks in at number 10. The 3 million tonnes of exports quoted in your post, while not insubstantial, hardly amount to a world waiting in line to buy it.

Again, I am wondering what was the source of the text of that post. For anyone even modestly familiar with the movement of commodities in international markets, it was really, really strange.

Regards,
John


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