USA Rice Hosts First World Market Price Meeting of 2016

Feb 25, 2016
Click here to hear Keith Glover explain the three World Market Price meetings held each year.
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WASHINGTON, DC -- This morning, the USA Rice World Market Price Subcommittee (WMP) met here to discuss planting prospects for the coming year, rice price reporting to National Agricultural Statistics Service (NASS), and trade issues facing the rice industry.  Also at the meeting were representatives from the U.S. Department of Agriculture’s Farm Service Agency (FSA), Economic Research Service (ERS), and Foreign Agricultural Service (FAS).

Traditionally, the first WMP meeting starts with a conversation with NASS about prospective plantings for the coming year.  Farmers and mill members representing the six rice states were unanimous in agreement that planted area in 2016 for their respective states would be higher than 2015 area.  The group also discussed Price Loss Coverage (PLC) payments for 2014 with NASS and FSA representatives, and questioned how sequestration might affect payment for 2015.

FAS updated the group on a range of global trade and phytosanitary topics including the potential for more fortified rice purchases for food aid, a review of meetings with the administration earlier this week on TPP and WTO Compliance issues, and ongoing concerns with tenders for U.S. rice in Iraq.  

WMP Chairman Keith Glover said, “We had a chance to talk about some pretty big issues with USDA today.  There are a lot of sensitive topics the U.S. rice industry is grappling with, and we appreciate the chance to get some clarity and fill out our position for the future.  It was especially poignant to have the new graduates of the Rice Development Leadership Class attending to see how we handle obstacles and opportunities within the World Market Price Subcommittee.”

The next World Market Price meeting will take place in Washington, DC on May 18, 2016.