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National & World Ag News Headlines |
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Rice Supplies Projected to Reach Near-Record Levels in 2016-17
USAgNet - 03/09/2017
U.S. supplies of rice increased 58 percent since the 1990-91 marketing year, according to the U.S. Department of Agriculture. The majority of this growth occurred in the long-grain variety, where supplies grew 67 percent, compared with 35 percent gains in
short/medium grain rice.
Imports make up an increasing share of supply in recent years, but still remain below 9 percent of the total.
Farm prices for both rice categories were relatively stable between over the past 25 years, but a global rice crisis in 2008 led to a significant increase in prices, particularly of the medium/short variety, which reached an average of $25 per hundredweight in
2008-09. Prices declined following the crisis, but still remain elevated relative to historic levels.
Meanwhile, supply is projected to total 294 million hundredweight in the 2016-17 marketing year. This would be the second highest total on record for the United States, trailing only 2010-11 when record production led to 297 million hundredweight in the U.S.
market.
Just under half of U.S. rice supply is exported with the remainder consumed or stored domestically.
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