WASDE Report Released

May 12, 2020
WASHINGTON, DC -- For the 2019/20 market year, exports are reduced 1 million cwt to 98 million and the all rice season-average farm price (SAFP) is lowered $0.20 per cwt to $13.00.  The 2020/21 outlook for U.S. rice is for larger supplies, exports, domestic use, and ending stocks.  U.S. 2020/21 all rice production is projected at 216.2 million cwt, up 17 percent from the previous year.  Partly offsetting the increased 2020/21 crop is a 32 percent decrease in beginning stocks.  The total 2020/21 rice supply is projected at 279.3 million cwt, up 7 percent from last year.  U.S. 2020/21 total use is projected at 237.5 million cwt, up 3 percent from the previous year with both domestic and residual use and exports higher.  All rice ending stocks for 2020/21 are projected at 41.8 million cwt, up 37 percent from the previous year’s low level.  The 2020/21 SAFP is projected at $12.90 per cwt, down $0.10 from the 2019/20 revised SAFP.

World production for 2020/21 is projected at 502.0 million tons, a record, and up nearly 2 percent from the previous year.  Thailand and China lead production increases with crops raised 2.4 million tons and 2.3 million tons, respectively.  The largest production declines are for the Philippines and Brazil.  Global rice consumption is projected at a record-large 498.1 million tons, up 7.9 million from the previous year.  Global exports for 2020/21 are projected at 45.2 million tons, up 2.8 million tons from the previous year.  With supplies rising more than use, global 2020/21 ending stocks are a record- large 184.2 million tons with China and India respectively holding 64 and 21 percent.

Go here to read the full report.