Global and U.S. trading prices for rice have dropped sharply from 2008 record highs, but remain well above pre-surge levels. Despite the decline in prices, the 2008/09 U.S. season-average farm price is projected at a record $14.50-$15.50 per cwt. Total U.S. rice supplies in 2008/09 are projected to be smaller than a year earlier. In contrast, the crop is up 3%, as expanded plantings more than offset a weaker yield. Total rice use is projected at 233.0 million cwt, up almost 1% from a year earlier, with domestic disappearance accounting for all of the expansion. In contrast, exports are projected to decline in 2008/09. U.S. ending stocks are projected to contract 14% from a year ago and will be the lowest since 2003/04. Charts and tables.
In market year 2009/10 (Aug.-July), the U.S. increased the quantity of rice it exported by more than 15%. This followed a 10% decline in U.S. exports a year earlier. This export expansion was largely due to weather problems in several rice-growing nations, and a narrow price difference between U.S. rice and comparable grades from major competitors. This report analyzes the global market conditions that supported increased exports of U.S. rice in 2009/10, incl. global production, domestic use, prices, and trade. Also focuses on the U.S. market, detailing U.S. farmers¿ planting decisions for the 2009/10 crop, movements in the U.S. domestic rice market, and U.S. export competitiveness. Charts and tables. This is a print on demand report.
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