USA rice and USDA convene to review global rice market

ZOOM – The USA Rice World Market Price (WMP) Subcommittee held its final meeting of 2024 via Zoom this week, convening to discuss supply and demand, export sales, field yield estimates, and milling quality. Subcommittee members generally agreed that USDA field yield projections were similar to what was being reported by producers, with some states such as Arkansas, Mississippi, and Texas suggesting yields may be slightly higher, and members from Louisiana stating that yields will likely be lower than what USDA has projected. On export sales, the subcommittee suggested USDA’s projections were accurate but will likely level off for both long and medium grain exports, depending on developments in Iraq and Haiti. Following the meeting, subcommittee members and USA Rice staff met with teams from USDA’s National Agricultural Statistics Service (NASS), Economic Research Service (ERS), and World Agricultural Outlook Board (WAOB) departments. Keith Glover, WMP chair provided feedback on ...