After many fluctuations in supply and prices last year, global rice trade continues to be "hot" from the beginning of this year. This year is forecasted to be the second consecutive year that rice exports exceed 8 million tonnes, bringing in about US$5 billion. The global rice supply is decreasing, and countries such as the Philippines, Indonesia, China and some other markets…
About Us
Founded by Jeremy Zwinger in 2002, The International Commodity Institute is the umbrella organization that serves to offer clients an integrated media source that connects all critical aspects of the world rice industry. The institute brings together in-depth market reports and analysis (The Rice Trader publications), trade networking (World Rice Conference and other Events), expounding in various media (Weekly Direct TV Interviews), working with international producers of commodities (Farm & Trade), helping entities with global consulting, and international recognition for achievements and contributions to the global rice industry (World’s Best Rice Award and The Rice Trader Lifetime Achievement Award).
From farm to fork, from research to destination, the rice industry will be able to utilize the tools offered by the International Commodities Institute for insights and the ability to understand short, medium, and long term industry consequences, interpret market dynamics into commercial success.
For over 30 years, The Rice Trader publication has brought its subscribers crucial, up-to-the-minute information on rice trade through its daily and weekly publications. Acknowledged as the only source of confidential information about the rice market, this weekly summary of market data analysis has helped both the leading commercial rice companies and the regional government officials make informed decisions, which are critical in today’s market.
Our Mission
The Rice Trader is the world’s leading trade publication dedicated to in-depth analysis of the global rice industry. We assist your organization with valuable intelligence for risk management, trade, and decision-making abilities across the rice industry supply chain.
Rice is the staple food for over three billion people making it the world’s most important grain. Leaders from over 20 countries and every corner of the rice industry receive The Rice Trader. They rely on it to determine the most efficient ways to trade and transport this vital commodity. Comprehensive, in-depth market analysis makes The Rice Trader a pillar in the global rice industry and is the most profitable investment a person in this trade can make.
Acknowledge and honors development achievements through the prestige of our international awards, The Rice Trader aims to recognize and promote the development of the rice industry in countries that appreciate continuous development by education and research.
Our Values
Published 48 times a year, the Weekly Report is a vital source for market intelligence. We serve our subscribers by delivering an integrated platform of information on rice origins, allied markets, and risk management tools. The Rice Trader combines market data with proprietary research to provide our clients the most comprehensive rice report in the world on a weekly basis.
Daily News Update from The Rice Trader features all of the most recent activities of the global rice industry from various related aspects and beyond.
The Rice Trader World Rice Conference is the world’s leading forum for rice industry professionals, and emphasizes on the global rice trade, with a strong reputation in bringing leaders and rice industry and the various elements that deliver rice, from farm to fork.
Our Team
Team up from rice professionals, along with the companionship of researchers, enthusiastic advisors and reputed traders of the global rice industry who have decades of experience, The Rice Trader aims to deliver an integrated platform of information to the rice trade and allied industries that not only informs, but provides analysis, insight and valuable intelligence that will assist risk management, trade, and decision-making abilities across the rice industry supply chain.
Jeremy Zwinger – President & CEO: |
“As the world and market transforms, so must we or we will be left behind.” |
Jeremy Zwinger is the CEO/President of The Rice Trader, Farm And Trade, Inc., and International Commodity Institute. Mr. Zwinger is the founder of the World Rice Conference, along with several other key projects which help build bridges between a vast number of global entities. He was raised on his family’s farming operation in North Dakota, USA, and is a graduate of North Dakota State University, where he also attended graduate school for agriculture economics. Jeremy followed up this graduate school studies by taking on the position of the market analyst for U.S. Wheat in Washington DC, where he was able to get hands on experience in complexities of global trade and U.S. agricultural trade policy. His interests are broad, ranging from commodities markets to the digitalization of global business to the rapidly changing international cultural/geopolitical environment. Development of water distribution systems, ownership of water rights, and large-scale water trading are also key passionate interests. On a personal note, Mr. Zwinger is blessed with five children and an amazing family, whose support has allowed him to be here today.
A regular participant at international events and conferences, Mr. Zwinger has contributed extensively on the analysis of markets by predicting inter-commodity effects (rice, wheat, corn, soybeans, sugar, etc.), as well as currency and oil price led impacts on the rice markets. He is also well known among clients for his direct advisory work and market analysis that has proven to be very close to actual market developments. His 2007 speech forecast rice prices to go past $1,000 per ton levels, the more recent global food oversupply predictions, his prediction of the 2016 Trump presidency more than a year in advance of the U.S. elections, and a split 2020 election, are a just a few key examples that are well regarded.
Additionally, Mr. Zwinger has extensive experience that extends globally in the fields of publishing, brokerage, water trading, advisement, production financing, and consultancy services to a number of internationally respected players, including several Fortune 500 companies. He has consulted for many countries on key strategic interests, with direct access to heads of state and their cabinet members throughout the globe. More recently, he has become heavily involved in globally critical topics such as water rights and value, food security issues, electronic trading, international production financing, global investment strategies with a focus on the commodity fields, market development strategies, and the coming solar cycle, which is likely to lead to major global issues on a multitude of levels. In 2020, he was also made a lifetime member of the Farm Foundation, a prestigious agriculture and trade policy group, which helps make recommendations for the future, while facilitating key leaders into action. Mr. Zwinger has recently taken on the role of a weekly market discussion analyst on Direct TV, talking about the commodity markets and the important topics of the day. The changes brought on by Covid-19 have forced major developments in Mr. Zwinger’s business, where unique software was developed to help allow personalized networking with automated contracts. The goal remains of a more efficient trade mechanism in this new and ever-changing environment.
Mr. Zwinger looks forward to contributing more insights on the future and hopes to make yet another accurate assessment of the direction the market is headed in aid of those in attendance. As we have seen in the past, there are likely to be some interesting insights that come from his engaging and passionate discussions.
V Subramanian – Vice President |
Subra is Vice President and a member of The Rice Trader team with primary responsibilities in the TRT’s Asian and African rice market coverage. As Vice President at The Rice Trader, Subra presents daily updates on rice market prices, market developments and the latest in dealings amongst buyers and sellers as well as to provide a significant contribution to the weekly TRT report that has a wide readership from the global rice trade.
Subra’s contributions extend to covers developments and market intelligence gathering across all major rice markets, with an emphasis on development of TRT’s focus on rice market verticals that look at markets specifics like white rice, parboiled rice, fragrant rice, basmati rice, broken rice as well as key price trends and analysis in global rice markets and how these relay market signals and trends in procurement. Special reports on African markets, China, Indonesia, the Philippines and all the major export markets of India, Vietnam, Thailand, Pakistan, US, South America, Myanmar and Cambodia are also part of Subra’s market specific special reports that provide readers with specialist insights into global rice markets.
Subra is well-known for his role in the TRT World Rice Conference (held since 2009) the annual meeting place for the global rice trade.
Subra was also Managing Editor of Rice Today, between 2009 and 2012. Rice Today is the flagship publication of IRRI that was published by the The Rice Trader from between 2009 and 2012.
Subra was previously part of IBC Asia (Informa Group) for 14 years between 1994 and 2008 and helped create several firsts including Asia’s first coffee, sugar, rice conferences, and the world’s first Dry Bulk Shipping conference in a role that saw him create and eventually head IBC Asia’s Commodities and Maritime Division.
Educated in Singapore and the United Kingdom - Economics degree (University of Leicester) and a Masters in Science (MSc) degree in shipping trade and finance (City University, London, now known as the Cass Business School), Subra started his career at the Singapore Trade Development Board compiling trade statistics between Singapore and Malaysia. Subra subsequently joined Peregrine Futures where he provided daily market reports and analysis (including fundamental and technical analysis) to clients on futures markets, with emphasis on Coffee, Cocoa, Sugar as well as the metals markets of the London Metals Exchange.
Testimonials about TRT
Mr. Vivek Sharma
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Year after year, TRT has proven to be a valuable tool for industry players and the annual World Rice Conference never fails to provide excellent networking opportunities. For over a decade, we have enjoyed an enriching partnership with TRT and we look forward to many more years of fruitful collaboration.”
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Rice News
Vietnam
Rice prices today, March 25, in the Mekong Delta region were adjusted to increase for rice products. Accordingly, rice prices today rebounded with an increase of 50 - 300 VND/kg. In Lap Vo (Dong Thap), An Cu (Tien Giang), factories and customers sell rice at the market, with good purchasing power.
The Ministry of Agriculture and Development (MARD) is weighing options to deliver water to the Mekong Delta, as the region suffers from increasing impacts of drought and saline intrusion. The phenomena are reaching their peak in the dry season this year, according to the ministry.
India
India’s Ministry of Agriculture and Farmers Welfare (MoAFW) released its Indian crop year (ICY) 2023/2024 (July-June) Second Advance Estimate. The MoAFW is forecasting grain production (excluding the summer crop) lower at 309.3 million metric tons (MMT) compared to 313.6 MMT last year…
India's economic growth likely moderated to 6.6% year-on-year in the October to December quarter as robust government spending slowed and growth in the agriculture sector remained muted, a Reuters poll showed. Strong capital expenditure by the Indian government ahead of a national election due in May was a primary driver of growth in the previous few quarters.
India Gate, renowned for its premium quality Basmati rice, has recently unveiled its latest offering: Classic Biryani Masala. This move comes as a response to the enduring passion for Biryani across the country, aiming to deliver the quintessential "Classic Experience" to families nationwide. With this category expansion, India Gate aims to also enter into the rice bran oil category.
Pakistan
Pakistan’s agricultural scientists have achieved a remarkable milestone by successfully developing a new variety of rice known as “Golden Super Basmati” which boasts the distinction of having the longest grains ever recorded. With grains measuring 9.5 millimetres in length, this new rice variety promises to revolutionize rice cultivation in the country.
As Pakistan is about to harvest a bumper wheat crop, the farmers — producers of this record crop — are a fearful lot, scared of their production. They know their momentous effort, aided by Mother Nature’s helpful weather, is coming on top of a generous import regime, which has already created a glut in the national market. Their produce would only make it more troublesome for them.
Due to uncertain conditions of our beloved country, there are chances of hike in the price of wheat.
Philippines
TO help boost rice production, the National Irrigation Administration (NIA) is set to finally implement the new dry season-focused cropping calendar this year. “We will start the actual implementation this October,” NIA Administrator Eddie G. Guillen told reporters in an interview with reporters in Malacañang last Tuesday.
The country’s rice imports as of mid-March have surpassed the total volume recorded in the entire first quarter of last year by a double-digit rate, to over 880,000 metric tons, government data showed. Latest Bureau of Plant Industry (BPI) data showed that rice imports from Jan. 1 to March 14 reached 886,963.112 metric tons…
The Philippines will unlikely see an inflation flare-up similar to that in February as global prices of rice, a Filipino food staple, have started to ease, analysts at First Metro Investment Corp. (FMIC) and University of Asia and the Pacific (UA&P) said. In their latest “The Market Call” report released on Monday, FMIC and UA&P said inflation would be reined in by both lower costs of rice…
Bangladesh
Rice markets are unstable in the district due to price hike of all varieties of rice. Low-income people and students living in hostels have fallen into disarray. Per kilogram (kg) Minicat rice is selling at Tk 70 against Tk 64 ten days back, Swarna at Tk 50 against Tk 45, Athash (28) at Tk 58 against Tk 54, and Untrish (29) at Tk 56 against Tk 52.
A total of 81,653 hectares of land were brought under Boro cultivation in the district during the current Boro season. Deputy Director of Department of Agriculture Extension (DAE) Abdul Quader Sardar said, the production target has been set 3, 95,497 tonnes of rice from 81,653 hectares of land in the district this season.
The authorities have issued urgent alerts about a possible rise in blast disease -- one of the most destructive diseases of staple-food rice -- following recent rain and hailstorms in many parts of the country. The Bangladesh Rice Research Institute (BRRI) and the Department of Agricultural Extension (DAE) issued the warnings and recommended preventative measures, according to the Ministry of Agriculture.
Indonesia
The lowest price offered in the international tender from Indonesian state purchasing agency Bulog to buy about 300,000 metric tons of rice was estimated at $609 a ton cost and freight (c&f) for rice sourced from Vietnam, European traders said on Tuesday. Initial price offers were submitted in the tender on Monday and a decision is expected later this week.
Indonesian Industry Minister Agus Gumiwang Kartasasmita stated that sago analog rice could be used as the main food substitute for rice, especially amid a shortage of the commodity. According to the minister, Indonesia has 5.5 million hectares of sago land, with the potential to produce 34.3 million tons of sago starch.
JAKARTA The Meteorology, Climatology and Geophysics Agency (BMKG) predicts that Indonesia will experience La Nina after the end of the El Nino period. La Nina has the potential to increase the risk of extreme rain so that it is detrimental to agricultural land. What will happen to this year's rice price?
China
China’s nationalist leader, Xi Jinping, called for closer trade ties with the U.S. during a meeting on Wednesday with top American business leaders in Beijing that came amid a steady improvement in relations that had sunk to the lowest level in years. Xi emphasized the mutually beneficial economic ties between the world’s two largest economies…
A NEW deepwater mega port being built in the Peruvian fishing village of Chancay, about 80km north of the nation’s capital, Lima, is set to transform South America’s trade ties with China when the first phase commences operations late in 2024. Largely funded by China as part of its Belt and Road Initiative, the port will be able to host some of the biggest cargo ships in the world…
Louis Dreyfus Company (LDC) remains positive about Chinese demand as a source of growth for agricultural markets, despite rebalancing in other parts of the Asian nation’s economy, the CEO of the global commodity merchant told Reuters on Thursday.
Japan
Corn imports and consumption are forecast to increase in Japan for marketing years 2023-24 and 2024-25 as the country’s poultry layer population recovers from outbreaks of highly pathogenic avian influenza (HPAI) and feed demand rises while global prices soften, according to the Foreign Agricultural Service (FAS) of the US Department of Agriculture.
The yen briefly hit a 34-year low near the 152 line against the U.S. dollar Wednesday in Tokyo on renewed expectations the Bank of Japan will maintain its accommodative stance even after raising interest rates for the first time in 17 years.
The Taiwan Food and Drug Administration (TFDA) has identified two Taiwanese companies that imported potentially suspect red yeast rice from a Japanese drugmaker and has ordered them to recall products made with the ingredient.
Thailand
Thailand exported 2.5 million tons of rice in the first quarter of 2024, an increase of about 500,000 tons from a year earlier, government spokesperson Chai Wacharonke said on Wednesday. The Southeast Asian country's rice shipments may reach 8 million tons in 2024, above the target of 7.5 million tons, bolstered by government efforts to promote Thai rice in overseas markets, Chai said in a statement.
The president of Ban Mai Khao Farmers Group commended the recent increase in the price of fresh off-season rice, which has hit 10,000 baht (US$280) per tonne. This price surge not only encourages the traditional practice of rice cultivation among Thai farmers but also ensures a steady income for them.
“The cost of imported chemical fertilisers and pesticides is overburdening poor farmers,” Agriculture and Cooperatives Minister Thamanat Prompow said on Monday. Of the farmers targeted, 4.48 million use commercial methods for farming, while 200,000 cultivate organic rice, the ministry’s data shows.
Others
President Ferdinand R. Marcos Jr. on Tuesday expressed gratitude to India for its decision to export 295,000 metric tons of non-basmati white rice to the Philippines. The President also conveyed his intention to deepen collaboration with India in various areas such as agriculture, infrastructure and defense. “I’d like to thank you and please extend my gratitude to your Prime Minister (Narendra Modi)…
South Korea’s state-backed Agro-Fisheries & Food Trade Corp. purchased an estimated 77,774 metric tons of rice to be sourced from the United States in an international tender for about 100,800 tons which closed on March 21, European traders said on Tuesday.
Recently, India's prized basmati rice varieties, like Pusa-1121 and 1509 Basmati, have been found in Pakistan under new names, raising concerns among Indian scientists at the Indian Agricultural Research Institute (IARI), urging legal action to safeguard Indian farmers and exporters. This highlights the urgency for unified action to protect Indian farmers and maintain equitable trade practices.
Aliko Dangote Foundation has presented 80, 000, of 10 kilogram bags of rice to Lagos State Government for distribution to the vulnerable residents of the state. Meanwhile, Governor Babajide Sanwo-Olu and Philanthropist, business mogul Aliko Dangote, Chairman of Aliko Dangote Foundation and Group President of Dangote Industries Limited, Aliko Dangote…
Since the release of the previous report of South Africa’s Crop Estimate Committee (CEC) at the end of February, the weather conditions across the country have remained unfavourable. Thus, I was not surprised that the CEC further lowered its production forecasts for South Africa’s summer grain and oilseeds this month.
The prices of rice, a major staple food for Nigerians, increased 134.81 per cent in the past year. This is contained in the Selected Food Prices Watch for February 2024, released by the National Bureau of Statistics (NBS) yesterday. The report said the average price of one kilogramme (kg) of rice local rice rose to N1,222.97…
Much of southern Africa is expected to grapple with large-scale food shortages this year following an El Nino-induced drought that has ravaged crops and affected other critical food security resources for most rural communities. According to the Food and Agriculture Organization of the United Nations (FAO), dryness across the sub-region is expected to have an extensive negative impact on acute food insecurity in the 2024-25 agricultural season.
This warehouse is a crucial lifeline for some Nigerians amid a spiraling cost of living. But the Lagos Food Bank is not immune from the economic crisis. It's been forced to cut back on handouts to residents like Damilola Salamai as supplies from donors have fallen amid soaring inflation.
Nigerians have called on President Bola Ahmed Tinubu to open the Nigerian borders to allow inflow of food to lessen the pangs of hunger in the country. The calls became necessary following the unceasing rise in prices of food items, which many have attributed partly to the inability of farmers to access their farmlands as a result of insecurity.
Russia donated 25,000 tons of grain and 23,000 tons of fertilizer to Zimbabwe to help combat the effects of El Nino-induced drought, which has dwindled crop yields in most parts of Southern Africa. President Emmerson Mnangagwa accepted the donation Wednesday, saying it would help alleviate the drought Zimbabwe is coping with…
The Nigerian government has purchased about 58,500 tons of milled rice from the Rice Farmers Association to stabilise the market nationwide. The Minister of Agriculture and Food Security, Abubakar Kyari, disclosed this and said the government has asked the World Food Programme (WFP) to stop purchasing food from local markets not to worsen the current food scarcity.
The one-size-fits-all Dakar II plan risks sacrificing biodiversity and smallholders for the sake of private interests. There is an alternative. Launched early last year, the African Development Bank's ambitious Dakar II initiative, "Feed Africa: Food Sovereignty and Resilience", seeks to usher in a new era for African agriculture, positioning the continent as a global breadbasket.
The federal government Tuesday said the distribution of 42,000 metric tons of assorted grains across the country has commenced. It also said arrangements were almost concluded to release additional 58,500 metric tons of milled rice from mega rice millers into the markets, for optimum stabilization.
In the southern region of Western Australia, the agricultural sector is encountering heavy challenges due to the depletion of a crucial water source. The Glen Mervyn Dam, situated 200 kilometers south of Perth, has seen its water levels decline by over 80% in the past year, now standing at a mere 0.13 gigalitres.
LABOR’S current biosecurity protection levy proposal would give food importers a “free kick” against Australian agriculture, National Farmers Federation president David Jochinke said today.The Senate Selection of Bills Committee on 21 March referred the Agriculture (Biosecurity Protection) Levies Bill 2024 and related bills…
With numerous advantages coming from bilateral and multilateral free trade agreements (FTAs), there remains ample room to boost Vietnamese agricultural exports to Australia moving forward, according to insiders.
The Australian agricultural sector is of high importance as a predominant contributor to GDP and export earnings. However, rapid global warming and climate change may pose obstacles to agricultural exports. Existing literature shows that the issue is not receiving enough attention from policymakers, researchers, and academicians as it should.
Research trials carried out in WA have brought growers “one step closer” to protecting their grain crops from frost with the use of protective applications. The Department of Primary Industries and Regional Development is leading the research, with investment from the Grains Research and Development Corporation.
When the February unemployment figures are released on Thursday at 11.30am, there is a decent chance that, according to one measure, Australia will be in recession. But while it might not feel like the recessions of the 1980s or 1990s, it should serve as a warning to both the Reserve Bank and the government that the economy is extremely weak and does not need any more rate rises.
In the week ending 20 March 2024, the monsoon lows generated rain and storms in the tropics extending to central Western Australia and far-north Queensland. Tropical Cyclone Megan generated higher than anticipated rainfall in the north, reaching 300 millimetres in some areas.
BARLEY prices have firmed by around $10 per tonne in the past week as consumer interest particularly in the northern market returns for the first time in months. Wheat has trade sideways in the north, but picked up $10/t in the south to reflect some modest buying from the trade.
TALK that China has cancelled 1 million tonnes (Mt) of current-crop Australian wheat appears to have little basis in fact, according to grain industry sources Grain Central has surveyed. The sources represent some companies with cargoes of wheat loaded, loading or about to load wheat for China, and totalling close to 400,000 tonnes in the second half of March.
Australia has been urged to boost fuel security without compromising food supplies or adding to the world's carbon footprint. Heated debate over land use was becoming "less emotional and more logical" as demand for alternative fuels was strong, GrainCorp head of agri-energy Jeff Summerville told an industry conference on Wednesday.
Agriculture ministers rubberstamped fresh measures to reduce administrative burden on farmers, aiming to address imbalances in the food supply chain as a next step in addressing protests. Agriculture ministers from the 27 member states gathering this week in Brussels agreed a simplification package proposed by the Commission in late February to ease red tape surrounding eligibility for EU farming subsidies.
A dispute with federal authorities is preventing some 400,000 metric tons of grain from being processed and shipped to buyers, the owner of one of Russia's largest grain exporters TD RIF told Reuters. On Friday, Rosselkhoznadzor, Russia's agricultural watchdog, said there had been an increase in complaints from importing countries about the non-compliance of Russian grain quality…
Farmers drove dozens of tractors in a slow-motion convoy towards Britain’s Parliament on Monday to protest post-Brexit rules and trade deals that they say are endangering livelihoods and food security. Supporters of the campaign groups Save British Farming and Fairness for Farmers of Kent drove from southeast England and through southern districts of the capital…
The chapter Agriculture and rural development is to be the first one to open in EU acccession negotiations with Ukraine. Given the significant size of the Ukrainian agricultural sector, this chapter may become one of the cornerstones of the negotiations between Ukraine and the European Commission.
A major European Union plan to better protect nature in the 27-nation bloc and fight climate change was indefinitely postponed Monday, underscoring how farmers' protests sweeping the continent have had a deep influence on politics. The deadlock on the bill, which could undermine the EU's global stature on the issue, came less than three months before the European Parliament election in June.
The European Commission has proposed higher tariffs on grain products from Russia and Belarus that it said will suppress imports but not affect exports to third countries. The increased duties will apply to imports of cereals, oilseeds and derived products from Russia and Belarus. Depending on the product, the tariffs will increase to either €95 ($103) per tonne, or to an ad valorem duty of 50%.
Ukraine's Agriculture Minister Mykola Solskyi views EU grain import debates as politically motivated, aiming to address EU farmers' concerns. Solskyi is actively engaging with EU stakeholders, including France and Poland, to foster dialogue and dispel misconceptions about Ukrainian grain imports. Despite trade challenges, Ukraine maintains a robust agricultural outlook and prefers dialogue over WTO retaliatory measures for resolving the impasse.
According to reports from Politico, European Union ambassadors have encountered difficulties in reaching a consensus to extend preferential trade rules for Ukraine for an additional year. The anticipated decision, aimed at granting Ukrainian food producers tariff-free access to European Union markets until June 2025, was expected to be endorsed during recent deliberations.
France’s Senate voted overwhelmingly Thursday to reject legislation to ratify a 2017 trade deal between the European Union and Canada that has been criticized by farmers as bringing unfair competition from abroad. The EU-Canada Comprehensive Economic and Trade Agreement, or CETA, provisionally went into effect in September 2017 after all EU governments agreed to it…
Thanks to Italy, for the first time in years, agriculture returned as a topic of discussion for the European Council. This was the result of a process that began with Italy presenting a strategic document at the meeting of the EU council of agriculture ministers (AGRIFISH) on 26 February, and then strongly pushing for agriculture to be included on the European Council’s agenda.
Ban part of controversial plan to reduce reliance on GMO corn for human consumption. Mexico said it would delay a ban on the use of the herbicide glyphosate after it was unable to identify a substitute, rolling back a commitment that is part of a larger plan to reduce consumption of genetically-modified corn.
Brazilian agribusiness consultancy Agroconsult on Wednesday rose the country's 2023/24 soybean crop estimate to 156.5 million metric tons after surveying fields nationally and estimating an expansion of planted area.
Brazilian rail operator Rumo and supply chain solutions provider DP World have reached an agreement to build a new port terminal for grains and fertilizers at the Port of Santos in Brazil. The project, which will be installed at DP World’s private-use terminal on the port’s left bank, will boost the port’s handling capacity by 9 million tonnes of grains and 3.5 million tonnes of fertilizers, DP World said.
Food prices have ticked up in Brazil recently - and the Luiz Inacio Lula da Silva administration wants to set up a monitoring system to detect in advance the risks of crop failures and take measures to prevent or mitigate the rise in food prices. The government also intends to offer cheaper rural insurance options in the next harvest plan…
It's rice harvest time in Uruguay, and the country expects to collect over a million tons of the cereal which is enjoying a favorable international prices prospect since the world's main exporter India, has dropped out of the market. The production of Uruguay's 150,000 hectares of rice paddies are expected to bring in close to US$ 700 million in exports this year…
Total soybean production for Brazil is estimated to be 5.8% lower than last year at 148 million metric tons, according to consultancy firm Safras & Mercado’s March 19 estimate. This is down 0.3% from the previous forecast of 149 million metric tons on February 9.
Heavy rainfall that battered Argentina at the start of this month should ease up in the coming weeks, the Rosario Stock Exchange said on Friday, which could help crops recover and farmers harvest their plants as soil begins to dry. “The short-term forecasts are encouraging,” the report said, saying lack of rain forecast until at least next Wednesday would offer “a window of opportunity for agricultural activities…
Cuba's government has for the first time asked the UN's food programme for help as food shortages on the Communist-run island worsen. The World Food Programme (WFP) said it had received an unprecedented official request from the Cuban government for help providing powdered milk to children under seven years of age.
Rice exports (husk basis) in the first two months of 2024 totaled 182.1 thousand tons, reports the Brazilian Rice Industry Association (Abiarroz). In the same period of 2023, shipments of the product reached 239.4 thousand tons, that is, 57.3 thousand tons more than those sent abroad in January and February of this year.
The new and abundant rains that fell in important agricultural areas of Argentina are "very harmful" for soybeans and corn 2023/24, which in many cases register excess water in the soils that will have a impact on productivity, a specialist and the Rosario Stock Exchange said on Wednesday.
The last few weeks have finally seen rain and snowfall in Afghanistan, raising hopes for farmers and herders that this year could be better than the last three drought years. Afghans typically categorise a drought year as one where the low amount of precipitation causes problems for agriculture – a poor harvest or crop failure or not enough grazing for livestock.
Shackled by Western sanctions, Iran's oil sector has been largely stuck in neutral, restricted from much-needed foreign investment to reinvigorate its mature fields and develop new finds, while its crude exports have been limited mostly to China.
According to Minister of Agriculture of Kazakhstan Aidarbek Saparov, Kazakhstan is going to cut the total area of wheat agriculture and switch to oil and forage crops. This year, the country plans to sow various crops at 23.8 million hectares, which is 209,600 hectares less than in 2023. The area of wheat crops will decrease by 429,200 hectares to 13.3 million hectares compared to last year.
Saudi Arabia continues to ramp up its wheat production and is expected to produce 25% more in 2024-25 for a total of 1.5 million tonnes. This is the maximum allowed production quota and may be reduced or increased by the Ministry of Environment, Water and Agriculture (MEWA) depending on the underground aquafer and the world wheat supply…
Iraq’s oil ministry said on Monday that foreign companies operating in Iraqi Kurdistan were partly to blame for the delay in resumption of crude exports from the region. Foreign companies, alongside the Iraqi Kurdish authorities, had so far not submitted their contracts to the federal oil ministry in order to revise it and issue new contracts…
The ongoing Houthis attacks on the Red Sea are inhibiting trade at the Suez Canal, a vital and unavoidable maritime route connecting North Africa, Europe and Asia. As the disruptions continue, several local sector heads, ranging from construction to food distribution, told the Business Guardian that they are already witnessing some crunch which includes increased shipping costs and delays in goods.
Saudi Arabia announced on Thursday its plan to extend its production cuts of 1 million barrels per day (bpd) to September, with a probability of further extensions, the official Saudi news agency SPA reported, citing energy ministry sources. The pledged production reduction is an extension of the country’s existing 1 million bpd and 'can be extended or extended and deepened', according to the source.
During the meeting of agriculture ministers from member states of the Organization of Turkic States (OTS), Aidarbek Saparov, the Minister of Agriculture of Kazakhstan, conducted several bilateral meetings with foreign counterparts and delegations.
The head оf the Agricultural Committee іn the Iranian Parliament expressed his country's concerns about the decline іn its agricultural exports tо Iraq, pointing tо Turkiye and Saudi Arabia's dominance оf the Iraqi market. Mohammad Javad Asgari, an Iranian parliament member, underscored іn a statement that "Iran's fears are increasing due tо the decline іn its agricultural exports tо Iraq…
Egypt's state grains buyer, the General Authority for Supply Commodities, is believed to have bought two wheat cargoes in an international tender on Wednesday, traders said. The purchase is yet to be officially announced by GASC.
South Africa’s corn crop in marketing year 2023/24 has been affected by an El Niño induced mid-summer drought, resulting in an expected drop of more than 15 percent in crop volume.
FAS Manila forecasts MY 2024/25 milled rice production will increase to 12.125 million MT as the country emerges from the current El Nino and government spending on inputs and machinery contributes to increased yield.
Wheat imports in marketing year (MY) 2024/2025 are forecast at 2 million metric tons (MMT).
Rice export prices decreased 1-3 percent as the Thai baht weakened.
Soybeans were higher on commercial and technical buying. May closed well above the 50-day moving average, with help from bean oil, which was up on the strength in palm and crude oils. Soybean meal had an up and down day, closing higher under the influence of beans and oil.
In the south, long and medium grain milled rice steady. Parboiled prices steady. Second heads and Brewers steady. Rice by-products: Rice Bran, Millfeed and Rice Hulls mostly steady. In California, medium grain milled rice steady to weak. Second heads and Brewers mostly steady. Rice by-products: Rice Bran and rice hulls steady.
Outstanding export sales and exports by country, region and marketing year
The Economic Research Service says the number of U.S. wheat farms has dropped substantially over time. Since 2002, the total number of wheat farms fell by over 40 percent, from 169,528 in 2002 to 97,014 in 2022. According to the ERS, the reduction in the number of farms reporting wheat harvested area occurred across all wheat classes.
Agriculture shapes our way of life in Iowa. Our heritage and traditions are rooted deep in the fields that cover our great state. That’s why I was thrilled to celebrate National Agriculture Week to recognize our farmers. They keep Iowa number one in corn, pork, egg, ethanol, and biodiesel production and make our state a top producer of soybeans, dairy, beef, turkey, and more.
Wheat production across Texas looks better than in years past, providing producers some optimism despite low wheat prices. Texas A&M AgriLife Extension Service specialists said several opportunities could exist for cashing in on good forage.
Wheat prices showed resilience this Thursday evening in Chicago, ending slightly higher. The numerous cancellations of SRW wheat sales to China have in fact caused a decrease of 110 kt in the total wheat committed internationally for the current campaign, according to the latest weekly statistics from the USDA.
The Colombian market has been reopened for U.S. ag exports of poultry and egg products after several months of negotiation. After extensive engagement with the Office of the U.S. Trade Representative and the U.S. Department of Agriculture (USDA), the Instituto Colombiano Agropecuario has formally reopened the market.
It’s been a very busy winter, between traveling to give market outlooks at the several farmer meetings I had the pleasure of attending across the state, to working to put together marketing plans for my customers and solving all the daily problems that come with moving cash grain, it’s been hard to sit down and put my thoughts into writing.
As Iowa heads toward its fourth year of drought, grain farmers prepping for planting next month are facing mandatory water restrictions and livestock producers are searching for supplies. The nation's top corn-producing state is seeing one of its driest periods going into a growing season, according to Thursday's update from U.S. Drought Monitor.
What to do when your major adversary is also your biggest customer? Congress has lots to say about China these days. The House Ag Committee dispelled any doubts about that Wednesday when it hosted a nearly five-hour hearing titled, “The Danger China Poses to American agriculture.”
Follow along using the transcript.
As more Indiana farmers and ag businesses are shipping their ag products overseas, there have been concerns about making sure those products actually get to their destination. That’s why ag leaders are looking at ways to ensure that our ag products are shipped safely around the world.
In a move that could shake up the global agricultural market, Russia is pushing to establish a Brics grain exchange. Russian President Vladimir Putin has endorsed the initiative, which seeks to rival the Western-dominated grain pricing system and challenge the US dollar as the world’s main trading currency.
Canadian farmers have said they were baffled by the French Senate’s rejection of the free trade agreement between the EU and Canada last week as trade experts and agricultural producers suggest that the deal mainly benefits Europeans over their North American counterparts.
Malaysia has requested for an additional 500,000 tonnes of white rice from India, said Agriculture and Food Security Minister Datuk Seri Mohamad Sabu. Mohamad said the official application to India would be made through diplomatic channels soon.
The rating agency Icra in a recent report has said that global rice prices are going to remain high amid the fluctuating economic growth across the globe led by geopolitical crisis in the Middle East and Russia’s invasion of Ukraine. The average price of exported Basmati rice and non-Basmati rice increased by 26 per cent and 9 per cent, respectively, in FY2023. Further, in 9M FY2024, the average price of exported Basmati rice and non-Basmati rice increased by 10 per cent and 15 per cent…
We are all growing antsy for USDA’s Prospective Plantings report to be released on Thursday, but how long lasting are the March 31 (or in this case, 28th) numbers? My latest E-corn-omics column finds that over the past two decades, Prospective Plantings numbers never carry through to the final acreage estimate.
The rating agency Icra in a recent report has said that global rice prices are going to remain high amid the fluctuating economic growth across the globe led by geopolitical crisis in the Middle East and Russia's invasion of Ukraine. The average price of exported Basmati rice and non-Basmati rice increased by 26 per cent and 9 per cent, respectively, in FY2023.
CEPM, which is based in southwest France, called the March USDA World Agricultural Supply and Demand Estimates (WASDE) report “rather neutral, with the US balance sheet for the 2023-24 marketing year unchanged from February, whereas operators were expecting a slight drop in stocks (55 million tonnes).” It also raised the prospect of a decrease in Ukrainian maize production in 2024.
Drought in Panama has caused some disruptions for Panama Canal traffic, which has impacted the movement of ag exports. Mike Steenhoek, executive director of the Soy Transportation Coalition, says the canal that connects the Atlantic and Pacific oceans relies on a series of locks in the middle.
The strain that rising global temperatures could have on on the agriculture industry and inflation around the world will likely cause food prices to increase even more, according to new research. Changes in average monthly temperatures have the strongest and most consistent correlation to productivity and inflation figures…
The food price index has decreased to 118.0 points due to changes in prices for sugar, grains, and meat. Prices for milk and butter have remained almost unchanged. Grain prices have fallen to 120.1 points. Global prices for wheat and corn have dropped due to oversupply. Rice prices have surged due to price increases and additional deliveries.
ISA President Suzanne Shirbroun says the region has helped put more value into soy exports. “Global demand for protein has increased more than 250% since 1999,” she said. “So many of these international markets that we see today didn’t exist for US soy 60 years ago.”
The crop production sector will research and select high-yield and quality crop varieties with resilience to pests and diseases, and climate change to meet market demands. Encouraging businesses to proactively select and breed new crop varieties.
Winter wheat futures spiked Monday morning after a weekend of continued attacks by Russia on Ukrainian infrastructure that generated concerns about reduced exports from the region.
The Department of Agriculture (DA) and the Rizal Municipal Agriculture Office conducted a drone seeding demonstration during a Harvest Festival held at Barangay Candawaga, Rizal.
Rice, flour and bread account for the highest rates among food items wasted in Saudi Arabia, according to the kingdom’s Ministry of Environment, Water and Agriculture. Rice leads the food waste with 34 per cent of the total, being a staple on the Saudi table during Ramadan, which began in the kingdom on March 11.
In partnership with the Fisheries Administration (FiA) and GIZ, WorldFish recently conducted an exposure visit focusing on best practices for the management of rice field fisheries (RFF) in Kampong Thom province.
Direct-seeded rice (DSR) has the potential to bring a reduction in water consumption, cut methane emissions, minimize soil erosion, reduce manual labour, and provide better crop residue management in rice cultivation in India. DSR is a result-oriented and successful method for sustainable rice cultivation in India. The success of DSR lies with the farmers’ confidence.
USDA released new guidelines for how it intends to spur development of the biomass supply chain. In a report titled Building a Resilient Biomass Supply: A Plan to Enable the Bioeconomy in America, the agency lays out an assessment of current biomass uses as well as recommendations on how to increase biomass availability.
As a cereal grain, rice is one of the most widely consumed staple foods in the world, with especially strong demand for some of the highest quality rice brands in Asia, a region which accounts for more than 92% of global rice production and consumption.
After days of torrential rain in the wet season of central Fiji's Nausori Town, Chen Huazao anxiously rushed to the paddy field to assess his rice crop, which was planted last November. Wading through the muddy field, Chen's heart sank as he saw the almost mature rice plants flattened by the heavy downpours.
Executive Summary
With Ramada starting and the BULOG tender delayed to next week, it was a slower time as prices moved a bit softer. The global rice market is cautiously optimistic at a time when other grain prices (wheat, corn, and soybean) are tumbling around it. According to FAPRI (Food and Agricultural Policy Research Institute @ University of Missouri), the downward pressure on these grain prices will continue in 2024 and beyond.
Thought of the week
Leadership...
“As we look ahead into the next century, leaders will be those who empower others.”
-- Bill Gates --