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.
Written for those involved in the markets who have always found that there was never one central source on which to on for a comprehensive treatment of the international rice market. It brings together information from a wide variety of international sources, and includes discussion of the various elusive companies peripheral to the market, such as grain and freight companies. This is essential reading for all involved with international affairs in general and for governments and other agencies concerned with vital international food distribution questions as well as economists and those directly involved in the trade.
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