USDA sees rains reducing Bangladesh rice output.

Heavy rains in Bangladesh continues to reduce rice production prospects for 2017-18. Rains in Bangladesh have been two to four times above normal so far. Prices of rice in east India have increased in the past few weeks due to demand from Bangladesh. Bangladesh is facing a huge deficit in rice production this year due to floods and it is expected to import 1.5 MMT rice in 2017-18. There are also concerns that a tropical cyclone is likely in the Bay of Bengal next week, which could increase the risk of floods in Bangladesh, India and Myanmar.