Oct 20, 2016
WASHINGTON, DC -- Tuesday, the World Market Price subcommittee held their final meeting of 2016 here where USA Rice Members met with representatives from the National Agricultural Statistics Service (NASS), the Economic Research Service (ERS), the Farm Service Agency (FSA), and the Foreign Agricultural Service (FAS) to discuss a variety of domestic and international issues facing the rice industry.
On the domestic front, the main topic was the recent flooding in Louisiana and Arkansas. Representatives from USDA were asked how they were helping rice farmers affected by the flooding, and what sort of impact these events would have on supply and demand.
"We shared important information about the impacts of flooding in Louisiana and Arkansas with representatives from NASS, FSA, and ERS,” said Keith Glover, chairman of the USA Rice World Market Price Subcommittee. “As an industry, we have to make sure the government understands what is going on in these areas right now.
Glover said, “Representatives from each rice producing state also shared with USDA their observations about this year’s rice crop with regard to average field yields and milling quality for their state. And FSA reported that Price Loss Coverage (PLC) payments are on schedule.”
On the international front, FAS representatives reported on U.S. export markets including information that some competitors continue to practice illegal price support and export subsidies, making this a potentially difficult environment for U.S. rice.
Glover remarked, “The rice industry is dealing with low prices, large stocks, and an even larger crop for 2016/17 so it is imperative we find more export markets. Our meeting with USDA focused on both short-term ways to export U.S. rice and long-term moves to secure access to important markets.”