First USA Rice World Market Price Meetings of 2021 Held

WASHINGTON, DC – Yesterday, the USA Rice World Market Price Subcommittee (WMP) held its first meeting of 2021, once again, gathering virtually due to ongoing COVID-19 restrictions.  

To kick-off the day, the Subcommittee held its regular discussion of final marketing year 2020/21 production numbers, yield, stocks, and 2021 March planting intentions.  Members generally agreed that the latest figures provided by the U.S. Department of Agriculture (USDA) were accurate, with minor discrepancies around yield and domestic use.  When surveyed, members shared that they do not expect the 2021 planted acreage in any state to exceed the planting totals from 2020, which had the highest production totals since 2010.

Following the Subcommittee meeting, WMP Subcommittee Chair Keith Glover and USA Rice staff met with teams from USDA’s National Agricultural Statistics Service (NASS), Economic Research Service (ERS), and World Agricultural Outlook Board (WAOB) departments.

Glover provided feedback from members regarding USDA statistics and projections, including areas where members had discrepancies with the data. “As always, this meeting with NASS, ERS, and WAOB staff from USDA offers USA Rice a valuable opportunity to voice concerns and share our thoughts on the important work done by these agencies,” he said.

To round out the day, Subcommittee members along with members of the U.S. Rice Producers Association met jointly with staff from USDA’s Foreign Agricultural Service (FAS) to discuss the global trade situation.  FAS covered developments in over a dozen countries and regions that are export destinations for both milled and rough rice.  Members from both organizations were able to ask FAS staff questions about their areas of concern, and the meeting provided a useful and in-depth look into the global rice trade.

The next WMP Subcommittee meeting will be held in May.