WMP Subcommittee Chair Keith Glover presides over the February meeting
Mar 01, 2023
WASHINGTON, DC – The USA Rice World Market Price (WMP) Subcommittee met in Washington, DC, on Monday, joined by the 2021-2023 Rice Leadership Class, who had traveled to the capital as part of their development program.
To begin the day, Subcommittee members discussed planting intentions, supply and demand, average farm prices, and export sales. Keith Glover, chair of the WMP Subcommittee, surveyed committee members and leadership class participants from each state regarding their views on upcoming plantings. All states except Texas expect to remain steady or see increased plantings above 2022, with California in particular looking to rebound to more average levels following heavy rain and snow this winter. All projections, however, are dependent on weather conditions this spring.
Following the Subcommittee meeting, representatives from the USDA National Agricultural Statistics Service (NASS), Economic Research Service (ERS), and World Agricultural Outlook Board (WAOB) departments joined the group to hear industry feedback about their data reporting. Glover shared comments from Subcommittee members regarding USDA statistics, and reviewed the areas where members thought changes could be made. Members were also able to ask questions about USDA data collection and analysis methods.
To conclude the day, the WMP Subcommittee met with staff from the USDA Foreign Agriculture Service (FAS) to discuss the global trade situation. USDA reported on developments in milled and rough rice export markets, including Japan, Korea, Mexico and Iraq, and Subcommittee members shared their views about risks and opportunities in those markets.
“The World Market Price Subcommittee made the most of our in-person meeting in Washington,” said Glover. “It’s a good prelude to the annual legislative fly-in as we share feedback and projections with USDA policy makers which is a learning opportunity for both sides.”