The USDA’s latest WASDA report projects a favorable outlook for the 2024/25 rice market, with notable increases in U.S. and global supplies, exports, and ending stocks.
U.S. rice supplies are projected to increase by 2.5 million cwt to 307.0 million cwt, with production at 221.7 million cwt and imports at a record 45.5 million cwt.
Global rice supplies are forecasted to rise by 0.9 million tons to 705.4 million tons, driven by record production in Pakistan.
U.S. rice exports are expected to increase to 101.0 million cwt, with global rice trade projected at 54.6 million tons, primarily due to higher exports from Pakistan.
The U.S. rice market is expected to see increased supplies, rising by 2.5 million cwt to a total of 307.0 million cwt. This increase is driven by slightly higher production, projected at 221.7 million cwt, and record imports of 45.5 million cwt. The rice yield is anticipated to be 7,645 pounds per acre, up 10 pounds from last month.
Globally, rice supplies are forecasted to rise by 0.9 million tons to 705.4 million tons, mainly due to record production in Pakistan, supported by favorable planting conditions and water availability. This increase in supply is matched by higher global consumption, projected at a record 527.3 million tons.
U.S. rice exports are projected to increase to 101.0 million cwt, reflecting larger supplies. On the global stage, rice trade is expected to reach 54.6 million tons, up 0.7 million tons from the previous forecast. This increase is primarily driven by higher exports from Pakistan.
The overall outlook for the 2024/25 rice market is positive, with increased production and robust trade dynamics. U.S. rice ending stocks are projected to rise by 16 percent to 46.0 million cwt, providing a cushion against potential market fluctuations. The season-average farm prices remain unchanged, indicating stable market conditions.
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The information provided in this market insight is for general informational purposes and should not be considered financial advice. It is not intended to offer any financial recommendations or endorsements. Any decisions made based on the content are the sole responsibility of the reader.
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