What does the surge in China's imports mean for rice?

Mainland China’s net rice imports will have risen to record levels in 2012, whereas the country has traditionally been a net exporter. At first sight this might have been expected to have a major impact on the global price of rice. However, this swing reflects government action rather than a surge in aggregate demand from Chinese consumers. Indeed, the resulting increase in official stocks may limit the upside for global rice prices over 2013.