GBI does a close inspection

USA Rice Regional Director Hartwig Schmidt escorted the team and remarked that "this was the most positive and successful team visit with which I have ever been associated."  Prophetic words considering, less than three weeks later on the very next tender from the GBI, the U.S. was awarded a contract for 30,000 MT of long grain milled rice. 

This added sale brings the total U.S. rice sales this marketing year (August-July) to131,000 MT, following more than two years with no U.S. rice sales to Iraq.  As recently as 2006, Iraq was the United States' number two export market at more than 380,000 MT, but a variety of technical issues arose with new tender specifications that cut the market off.

"We're thrilled we were able to help deliver this victory for the industry," said Betsy Ward, president and CEO of USA Rice.  "We want to thank everyone who participated in the GBI tour to make it a success."

Contact: Jim Guinn, (703) 236-1474

LA producer John Owen presents Friend of the Rice Industry award to Rep. Boustany at 2014 USA Rice Government Affairs Conference.

WASHINGTON DC -- At a House Ways and Means Subcommittee hearing here today, representatives from numerous agriculture industries testified on the impact of trade agreements on agriculture.   

Chairman Devin Nunes (R-CA) opened the hearing by emphasizing the importance of agriculture trade, and calling for an elimination of tariff and non-tariff barriers to U.S. agriculture goods.  He further noted, "to strengthen USTR's position in trade negotiations, we must pass Trade Promotion Authority (TPA) without delay.  The Bipartisan Congressional Trade Priorities Act introduced earlier this year would establish clear direction to open agriculture markets and address unwarranted SPS measures and other trade barriers."

Each of the witnesses agreed that TPA is a necessary step in achieving successful agreements such as the Trans Pacific Partnership (TPP) and the Transatlantic Trade and Investment Partnership (TTIP).  Representative Charles Boustany (R-LA) reiterated this sentiment, "the bipartisan nature of TPA sends a message to our trading partners."

"Opening new overseas markets and preserving existing ones are critical to maintaining a prosperous and competitive U.S. rice industry," said USA Rice Federation COO Bob Cummings.   "Today's hearing highlighted the challenges ahead and the importance of passing TPA to strengthen our negotiators' hands."

Contact:  Lydia Holmes, (703) 236-1450

WASHINGTON, DC -- Rice supply and use 2014/15 balance sheets are changed little from last month. All rice beginning stocks for 2014/15 are raised 3 million cwt, long-grain rice stocks are raised 2 million, and combined medium- and short-grain stocks are up 1 million. The 2014/15 beginning stocks changes flow through the balance sheets to 2014/15 ending stocks. All rice 2014/15 ending stocks are raised 3 million cwt to 37.3 million-the largest stocks since 2011/12. Long-grain ending stocks are raised 2 million cwt to 26.3 million-the largest since 2010/11. Combined medium- and short-grain ending stocks are raised 1.0 million cwt to 8.7 million.

All rice 2013/14 exports are lowered 3 million cwt to 92 million, long-grain exports are lowered 2 million to 62 million, and combined medium- and short-grain rice exports are lowered 1 million to 30 million. Rough rice exports and milled rice exports for 2013/14 are each lowered 1.5 million cwt to 31.5 million and 60.5 million (rough-equivalent basis), respectively. U.S. exports and export commitments to Central America, Africa, Venezuela, and Northeast Asia are lagging through May compared to a year ago.

The 2014/15 U.S. long-grain rice season-average farm price is projected at $12.80 to $13.80 per cwt, down 70 cents per cwt on each end from a month ago and compares to a revised $15.10 to $15.70 per cwt for 2013/14. The 2014/15 combined medium- and short-grain rice season-average farm price is $18.20 to $19.20 per cwt, a decrease of 30 cents per cwt on each end from last month and compares to a revised $17.40 to $18.00 per cwt for 2013/14. The 2014/15 U.S. all rice season-average farm price is projected at $14.40 to $15.40 per cwt, down 60 cents per cwt on each end from a month ago and compares to a revised $15.70 to $16.30 per cwt for 2013/14.

Global 2014/15 rice supply and use is little changed from a month ago. Global rice production is projected at a record 480.7 million tons, unchanged from a month ago. Global 2014/15 trade (imports and exports) are unchanged from a month ago. Global 2014/15 consumption is lowered slightly from last month. Ending stocks for 2014/15 are raised 900,000 tons due mostly to an increase for India. Rice production for 2013/14 in India is raised 1.3 million tons to a record 106.3 million tons based on official statistics from the government of India.

Read the full report here. 

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