May 10, 2018
WASDE Report Released
WASHINGTON, DC -- The 2018/19 outlook for U.S. rice is for higher supplies, exports, domestic use, and ending stocks. U.S. all rice production is projected at 203.2 million cwt, up 14 percent from the previous year, primarily on a larger expected long grain crop. Total rice supplies are projected to increase 5 percent to 263.5 million cwt, mainly on long grain.
U.S. 2018/19 total use is projected at 223 million cwt, up 3 percent from 2017/18 with both domestic and residual use and exports higher. Long grain exports are projected up 4 percent to 72 million cwt on improved price competitiveness with increased exportable supplies. Medium and short grain exports are projected 7 percent higher to 29 million cwt on expanding exports to the Mediterranean region with reduced Egyptian competition. All rice ending stocks are projected at 40.5 million cwt, up 18 percent from 2017/18 with most of the increase for long grain. The 2018/19 all rice season-average farm price is projected at $11.90 to $12.90 per cwt, down $0.20 from last year’s revised midpoint.
The 2018/19 global rice outlook is for record-high production, consumption, and trade. World rice production is projected at 489.5 million tons, up slightly from 2017/18 primarily on larger crops for Bangladesh, Thailand, and the United States more than offsetting reductions for China and India. Global rice consumption is projected at 488.6 million tons, up 2 percent from 2017/18 and led by China. Global exports are projected at 49.3 million tons, up modestly from 2017/18 but continuing the multi-year trend of expanding exports. World 2018/19 ending stocks are projected at 144.7 million tons, up marginally from 2017/18. China is projected to hold the majority of stocks at 67 percent of the total.