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Parl Sec Low's written reply to PQ on supply and impact on rice prices from El Nino effect

15 August 2016

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​Question 

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. 

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