News

Global rice market update: Some farmers cautiously optimistic despite obstacles

Rice
Published Mar 26, 2022

Tridge summary

Ground is being worked up throughout the delta in the midst of global uncertainty. Farmers have never been so indecisive in the past 25+ years. Fuel and fertilizer costs continue to be a moving target even as rice is going in the ground. Expectations remain that the crop will be approximately 15% smaller than last year, which is keeping upward pressure on paddy prices at the moment. Next week’s USDA acreage report will reflect the situation. In Texas, prices have jumped up to $17/cwt.

Original content

Ground is being worked up throughout the delta in the midst of global uncertainty. Farmers have never been so indecisive in the past 25+ years. Fuel and fertilizer costs continue to be a moving target even as rice is going in the ground. Expectations remain that the crop will be approximately 15% smaller than last year, which is keeping upward pressure on paddy prices at the moment. Next week’s USDA acreage report will reflect the situation. In Texas, prices have jumped up to $17/cwt. In Mississippi, Arkansas, and Missouri, prices are in the $15-$15.75/cwt range. Further bolstering higher paddy prices is the drought in the Mercosur, where Brazil’s rice production is still a big question mark. This will likely create opportunity for milled long grain to re-enter some of the markets that Brazil has encroached on in recent years. In Asia, the market has been holding steady with each passing week. Prices in Thailand are unchanged from last week at $417 pmt. Viet pricing sits at $420 ...
Source: Agfax
By clicking “Accept Cookies,” I agree to provide cookies for statistical and personalized preference purposes. To learn more about our cookies, please read our Privacy Policy.