Mr Chen Show Mao: To ask the Minister for Trade and Industry (Trade) (a)
whether the Ministry foresees a reduction in the supply of rice from countries
such as Thailand, Vietnam, India and elsewhere in Southeast and South Asia
due to the 2015-2016 El Niño and associated drought and heatwave; and (b)
how might such a reduction impact rice prices in Singapore over the rest of the
year.
Written Answer (attributed to Ms Low Yen Ling, Parliamentary Secretary)
1. As a consequence of El Niño, the US Department of Agriculture
expects a reduction in world rice production for 2016 by 1.6% or 7.7 million
metric tons due to reduced crop yields in major rice-producing countries such
as Thailand, India and Vietnam. However, the market does not expect a supply
disruption due to the availability of rice from stockpiles, such as those in
Thailand.
2. Furthermore, El Niño has weakened with the arrival of the monsoon in
June. World rice production for the year ahead is forecast by the US
Department of Agriculture to increase by 9.8 million metric tons.
3. Retail prices of rice in Singapore have been relatively stable in the last
one year and are expected to remain so for the rest of the year, barring any
unforeseen crisis.