In Victory for U.S. Rice Industry, Rice Headed for Iraq
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Big crop, big sale
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ARLINGTON, VA -- The USA Rice Federation has learned that after being passed over in the previous Iraqi rice tender, U.S. rice has been awarded 120,000 MT of long grain in the current tender.
"This is really great news for the entire U.S. rice industry," said USA Rice Federation President and CEO Betsy Ward. "We're sitting on a large, high quality crop, and with the Iraq Grain Board (IGB) placing the order for bulk and bagged rice, the whole southern region will win."
"We hosted the IGB at my farm and mills around the Delta back in May, where we successfully worked through several technical issues, and we were expecting that sales would follow," said Arkansas rice farmer and Chairman of the USA Rice Federation Dow Brantley.
"We're very pleased to have won the confidence and business of the IGB and the rice industry has worked hard to maintain a positive relationship with them," said Ward. "We know the Iraqi people like the taste and quality of U.S. rice, and our growers look forward to supplying rice to Iraq on future tenders."
Contact: Michael Klein (703) 236-1458
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FAS Awards USA Rice 2015 International Promotion Funds
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Record ag exports grin
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WASHINGTON, DC -- Yesterday, Agriculture Secretary Tom Vilsack announced that the U.S. Department of Agriculture's (USDA) Foreign Agricultural Service (FAS) has awarded funding to more than 60 U.S. agricultural organizations, including USA Rice Federation, to help expand commercial export markets for American products.
For FY 2015, USA Rice received $4,225,914 to promote rice in over 30 countries throughout the world.
The funding comes from the Market Access Program (MAP) and Foreign Market Development program (FMD) which are cost-share programs that promote and build demand overseas for U.S. agricultural commodities and products. An independent study released in 2010 found that USDA trade promotion programs like MAP and FMD provide $35 in economic benefits for every dollar spent by government and industry on market development.
Over 60 cooperator groups compete for MAP/FMD funds, with new cooperator groups being added each year. Each year's allocation is the result of a competitive review of past program performance and industry support for the promotion programs. It is worth noting that the U.S. rice industry has some of the highest levels of industry support amongst all of the agriculture commodities, adding more than $20 million in matching funds to support rice exports.
"Every year, USA Rice compiles data, performance measurements and market information for each of the countries and regions where we conduct programs, and this becomes the basis of our request," said Jim Guinn. "We also point to growing our potential markets, such as Colombia and China, as new destinations for U.S. rice."
U.S. farm exports have soared to a record $152.5 billion - up from last year's $141 billion level, according to data tabulated by USDA.
Contact: Sarah Moran (703) 236-1457
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Weekly Rice Sales, Exports Reported
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WASHINGTON, DC -- Net rice sales of 25,100 MT for 2014/2015 were down 62 percent from the previous week and 67 percent from the prior four-week average, according to today's Export Sales Highlights report. Increases were reported for Costa Rica (10,000 MT), Mexico (7,100 MT), Venezuela (2,800 MT), Saudi Arabia (2,200 MT), and Canada (1,900 MT). Decreases were reported for unknown destinations (3,600 MT).
Exports of 70,000 MT were down 33 percent from the previous week, but up 4 percent from the prior four-week average. The primary destinations were Venezuela (32,800 MT), Japan (12,000 MT), the United Kingdom (9,100 MT), Mexico (5,800 MT), and South Korea (2,900 MT).This summary is based on reports from exporters from the period November 7-13.
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CME Group/Closing Rough Rice Futures | CME Group (Prelim): Closing Rough Rice Futures for November 20
January 2015 | $12.580 |
+ $0.175
| March 2015 | $12.845 |
+ $0.170
| May 2015 | $13.085 |
+ $0.160
| July 2015 | $13.285 |
+ $0.155
| September 2015 | $12.445 |
- $0.050
| November 2015 | $12.345 |
- $0.050
| January 2016 | $12.345 |
- $0.050
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Mission Statement | USA Rice Federation is the global advocate for all segments of the U.S.
rice industry with a mission to promote and protect the interests of
producers, millers, merchants and allied businesses. |
About Us | Editor: Michael Klein, (703) 236-1458, mklein@usarice.com
Fax (703) 236-2301
2101 Wilson Boulevard, Suite 610 Arlington, VA 22201
This report is time-sensitive, based on information available at press time. Content is derived from facts and sources believed to be reliable. Reprinting and/or distribution may be done with permission of the USA Rice Federation
Copyright © 2014. Please direct comments or questions to the editor or contact name listed for each story. |
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