World Market Price Meeting Covers Reporting Mechanisms, Thailand, South Korea and More

Feb 27, 2015

WASHINGTON, DC -- Yesterday morning, the World Market Price Subcommittee convened to discuss planting prospects for the coming year, rice price reporting to National Agricultural Statistics Service (NASS), and trade issues facing the rice industry.
 
Representatives from NASS answered questions and clarified reporting guidelines.  Accurate reporting of prices received by farmers is especially important this year for the successful execution of programs under the 2014 farm bill. 
 
"It is critically important the prices reported reflect what farmers are actually receiving for their rice," said Subcommittee Chairman Keith Glover.  "This will ensure U.S. farmers enrolled in the new ARC/PLC programs will be covered for losses due to uncontrollable price declines, which is the intent of the program."
 
The U.S. Department of Agriculture's Foreign Agricultural Service (FAS) updated the group on the ongoing Trans Pacific Partnership (TPP) negotiations.  At the subcommittee's request, FAS also shared information on Thai rice stocks and their Rice Paddy Pledging program as well as South Korea's progress implementing new tariff rates.
 
The 2013-15 USA Rice Foundation Leadership Class also attended the meeting, having graduated from their two-year program earlier in the week.  They saw first-hand the variety of topics covered by the World Market Price subcommittee, and how members work with government officials to tackle tough issues facing the U.S. rice industry.
 
Chairman Glover was pleased with the depth of topics discussed on Thursday, saying, "We expressed our most sincere appreciation to USDA and NASS for working with the U.S. rice industry."
 
Contact:  Kristen Dayton (703) 236-1464