Food and Agriculture Organisation has pegged India’s rice production at a record high of 110.4 mln tn in 2017-18, as against 109.2 mln tn produced in the previous year. Govt is targeting production of 108.50 mln tn rice in the current season that began in July. FAO’s production estimate has been raised on increased acreage, favourable weather conditions, and higher support price offered by the government. FAO also raised its estimate for global rice production in 2017-18 to 503.6 mln tn from 502.9 mln tn projected at the start of this month. The estimate is 0.7% higher than the output in 2016-17. International rice trade in 2017 is seen 7% higher at 44.5 mln tn.