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Up-to-the-Minute News on Issues and Activities
Friday, June 5, 2015

House Agriculture Committee Looks at Global Subsidies          

House Ag Committee
Chairman Mike Conaway

WASHINGTON, DC -- The House Committee on Agriculture held a hearing this week to review and discuss the trade distorting impact of farm subsidies in other countries and whether these subsidies may result in violations of subsidy rules in the World Trade Organization (WTO). 

 

Craig Thorn of DTB Associates, LLC and Dr. Darren Hudson of Texas Tech provided testimony.  Thorn noted that the run-up in subsidies in the countries that his firm examined -- China, India, Brazil, Turkey, and Thailand -- began about a decade ago and have continued unabated. Thorn said much of the data was collected from reports by overseas offices of the U.S. Department of Agriculture's Foreign Agriculture Service because farm subsidies are rarely reported to the WTO in a timely fashion, and because some countries use faulty methodology to make reported subsidy levels appear smaller than actual outlays.  The domestic support policies of these advanced developing countries, which are both key competitors and customers of U.S. agriculture, have a global impact. They have stimulated production, displaced imports, and, in many cases increased exports. 

 

"The U.S., as the biggest agricultural exporter, suffers most from these distortions," said Thorn.

 

"This was a very timely and important hearing," said USA Rice COO Bob Cummings. "As the importance of the farm bill safety net grows for U.S. producers, Congress should understand that support for agriculture in key foreign countries continues strong. Both witnesses, and the questions from Committee Members, highlighted the importance of a vibrant U.S. voice at WTO headquarters to set the record straight about agriculture subsidies. USA Rice very much supports this initiative."

 

Contact:  Michael Klein (703) 236-1458

CME Group/Closing Rough Rice Futures   
CME Group (Prelim):  Closing Rough Rice Futures for June 5

Month
Price
Net Change
July 2015
$9.805
- $0.120
September 2015
$10.075
- $0.120
November 2015
$10.340
 - $0.125
January 2016
$10.595
 - $0.125
March 2016
$10.790
- $0.125
May 2016
$10.790
- $0.125
July 2016
$10.790
- $0.125

In the News 

Around the Country

Getting in Touch with Our California Prairie Sacramento Bee

Rain doesn't fall when plants need it most, so they're much more dependent on soil here than the rest of the country." That heavy clay soil that's a bane to Sacramento gardeners and a necessity for rice farming also is key to the eco-region's identity. Clay holds tight to any moisture it gets, helping native plants survive those dry summer months.

 

Riceland, Producers Rice Join to Take Stake in Sage V Foods in Little Rock  

Arkansas Business

Sage V Foods of Boulder, Colorado, has sold its interest in an instant rice production facility in Little Rock to Best Rice LLC, which is jointly owned by Riceland Foods and Producers Rice Mill, both of Stuttgart.

 

 

Around the World

Japan's Changing Food Tastes are Hard to Swallow for Rice and Sake Enthusiasts Guardian

The two global symbols of Japanese cuisine are falling in domestic popularity as growing sales of bread, beer and wine reflect an increasingly international flavor.

 

Thailand's Rotting Rice may be Sold for Animal Feed Bloomberg

A reduction in Thai inventories would cut global supply just as an El Nino weather pattern threatens to parch crops across Asia. The stockpiles of the Southeast Asian nation accounts for 37 percent of the global rice trade.

 

 

Tariffs and Trade

U.S. Could be Hit with About $3 Billion in in Retaliation in COOL Dispute Agri-Pulse

Canada is seeking retaliatory tariffs totaling about CA$3 billion (about $2.4 billion U.S. dollars) and Mexico will seek authorization for $653 million in sanctions, bringing the total to about $3.053 in damages.

 

 

Science and Technology

How Many Calories are in that Sundae? Google will Tell You with the Snap of a Picture Digital Trends

Google is tapping the artificial intelligence researchers it acquired when it bought DeepMind for $400 million to develop a system that can measure the calories in food from pictures. The system, called Im2Calories, uses a combination of image recognition and comparative analysis to identify meals from average-definition photos.

USA Rice Daily Index of Articles, June 1-4

Thursday, June 4  

USA Rice Unveils New National Rice Month Logo  

 

Wednesday, June 3
Riviana Foods Buys RiceTec's RiceSelect Brand
Rice Foundation Accepting Applications for 2016 Rice Leadership Development Program

Tuesday, June 2
USA Rice Updates Rice on Rural Economy
USA Rice Weighs In on Impact of Trade with Cuba

Monday, June 1
Rice Rocks Riverfest
Senator Wicker Addresses 80th Annual Delta Council Meeting
Crop Progress:  2015 Crop 96 Percent Planted
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