US resumes rice sales to Iraq after banking issues are resolved

(By Planeta Arroz) Iraq has become the second-largest market for U.S. milled long-grain rice after USA Rice signed a 2021 Memorandum of Understanding with Al Awees, the organization that buys rice on behalf of the Government of Iraq. U.S. rice sales to Iraq have resumed after months of delays due to new financial restrictions imposed by the U.S. government on Iraqi banks that would normally provide dollars for U.S. rice shipments to the country. Archer Daniels Midland’s Rice Division completed a sale of 80,000 tons of U.S. rice for the 2023/24 production year. Another 40,000 tons were sold in August by ADM for 2024/25, according to the USA Rice Federation. “This news couldn’t have come at a better time,” said Keith Glover, president and CEO of Producers Rice Mill and the newly installed chairman of USA Rice, referring to the start of the bulk of what is expected to be one of the best U.S. rice harvests in recent years. Farmers are expected to harvest 220.8 million quintals of ...