The Food and Agriculture Organisation (FAO) of the United Nations in a report has said that crop output in Bangladesh is better than expected in this year, reports BDNEWS.
The FAO said that rice exports of Bangladesh and Philippines increased substantially in this year.
The report said: the global rice production is expected to hit 622 million tonnes this year, up by 2.6 per cent from 2004, with better than expected crops in Bangladesh, Cambodia, China, India, Indonesia and Thailand.
"World paddy production would be 2.6 per cent, or 16 million tonnes higher than in 2004," said the FAO in its latest Rice Market Monitor.
The FAO has also forecast that the global rice trade will be 27.6 million tonnes in 2005, an up by one million tonne from last year.
Thailand has been the world's leading rice exporter for decades, followed by the US and Vietnam.
"In 2006 rice prices may fall by 5.0 per cent on average based on current supply/demand prospect," predicted the FAO monitor.