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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. Henry Allard

President, Filhet-Allard Maritime

“The professionalism of the TRT team, as well as the high quality of information provided by its platforms, are two of the many reasons why Filhet-Allard Maritime is delighted to be a long-standing partner of TRT. 

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.”

Mr. Sujit Pande

Responsible for Global Marketing & Product Management activities of Rice Solution Business @ Buhler AG

“The Rice Trader and its associated business will be richer if we can track all relevant data and give impetus to its impact on future business scenarios. We at Buhler really appreciate depth of data and flow of facts brough by TRT team. “

Mr. Chookiat Ophaswongse

Honorary President Thai Rice Exporters Association

The Rice Trader (TRT) is now the most recognized organization all over the world for Rice Business, this success came after investing so much of time and efforts over numerous years. You deserve to enjoy every moment of it! Congratulations my friend, and may you get much more success in the years to come in your business.

Mr. Vivek Sharma

“I have been reading TRT and attending the World Rice Conference organized by them for 9 years now. I have gained tremendous knowledge and network by being a subscriber. The personal touch is present in every interaction and even though you may just be reading it on your laptop, you can hear the passion of Subra and Jeremy’s voice behind those lines. It is a boon for rice industry professionals. It brings together some of the brightest minds and nicest people on the planet, and I almost forgot, the most current and timely information available on Rice.”

Mr. Mamadou Ciss

CEO, Alliance Commodities

“I have been trading rice since 1984 in various organizations and I have been a regular subscriber of TRT since the beginning. 

TRT has revolutionized the way rice reports were and are written. They inspire and lead the rice market in its growing need to be informed on what’s going on. 

I have always been satisfied with their services which I highly recommend to those willing to play a role in the rice industry.”

29 March 2024

India's rice export prices increased this week due to higher duty on rice shipments, while Thailand's demand remained low. The government imposed a 20% export duty on parboiled rice exports in August 2023 to control domestic rice prices. The customs department has demanded payment of duty differentials on rice exported in the last 18 months, which could cripple rice shipments from India.

29 March 2024

According to a report by the Agricultural Export Management Agency - US Department of Agriculture, the amount of rice imported by the Philippines this year is at 4 million tons, instead of the previous forecast of 4,1 million tons. Because, the Philippines' domestic rice production is expected to meet the slight increase in domestic consumption demand.

29 March 2024

An abundance of medium-grain rice could hinder any upside price potential if the demand for medium-grain remains at normal levels. Following two consecutive years of decline (see Figure 1), United States (U.S.) rice production increased to roughly 2.9 million acres in 2023 (USDA-ERS, 2024). In 2022 and 2023, the world was consuming more rice which showed up in the long grain rice Marketing Year Average Prices (MYAP) of $16.70/cwt and $15.7/cwt, respectively (USDA-NASS, 2024).  

28 March 2024

Despite surplus yields in major crops like onions, potatoes and rice, imports continue to flood the market, raising pertinent questions about the integrity of supply chain management and the pervasive influence of dishonest traders. In the onion market, for instance, conflicting reports from the Department of Agriculture Extension and the Bangladesh Bureau of Statistics (BBS) highlight a stark disparity in production figures.

28 March 2024

Ambassadors from European Union countries reached a deal on Wednesday to extend tariff-free food imports from Ukraine, with a "balanced approach between support for Ukraine and protection of EU agricultural markets", the Belgian EU presidency said. The agreement will now go to the European Parliament for its approval, with the aim of a "swift agreement", the Belgian presidency said in a post on social media platform X.

Vietnam
27 March 2024

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…

26 March 2024

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.

26 March 2024

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
29 March 2024

While farmers turned paddy fields into orchards thinking ration rice would suffice, the cut in PDS supplies make people from all walks of life buy costly rice from private traders Anantnag (Jammu & Kashmir): On a chilly winter morning, Irshad Bhat waited outside the Public Distribution System (PDS) store at Shangus

29 March 2024

India's diesel exports fell 25% year-on-year in the first 11 months of this financial year to $20 billion as prices in the international markets softened. The export volume increased marginally to 26 million metric tonnes (mmt) from 25.8 mmt during the April 2023-February 2024 period, according to the petroleum and natural gas ministry data.

28 March 2024

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…

Pakistan
29 March 2024

Punjab Agriculture Minister Ashiq Hussain Kirmani while reviewing the projects being carried out under transforming agriculture plan for the province said that the primary focus of the government is the advancement of farmers’ prosperity and the provision of maximum facilities to support him.

29 March 2024

For low-income families, inflation has pushed the cost of even the most basic necessities beyond reach. The price of staples like wheat flour, rice, and cooking oil has soared, forcing many into making difficult choices.

27 March 2024

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.

Philippines
29 March 2024

OUTSIDERS with no deep attachment to the land and blissfully unaware that the sugar industry was once a pillar of the national economy tend to view the late-February closure of the close-to-a-century-old Central Azucarera de Don Pedro (CADP) in Nasugbu, Batangas in "just-one-of-those-things" terms.

29 March 2024

The Philippine president said Thursday that his government would take action against what he called dangerous attacks by the Chinese coast guard and suspected militia ships in the disputed South China Sea, saying “Filipinos do not yield.”The Philippine president said Thursday that his government would take action against what he called dangerous attacks by the Chinese coast guard and suspected militia ships in the disputed South China Sea, saying “Filipinos do not yield.”

28 March 2024

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.

Bangladesh
29 March 2024

The gap between the production and consumption of rice still prevails. According to the Ministry of Agriculture, the production is good enough, at least 5 million tonnes more than the demand. So there is no need to import rice. However, despite the surplus production, the prices of rice are on the rise.

29 March 2024

Commerce ministry senior secretary Tapan Kanti Ghosh on Thursday said that the government had taken a policy decision for signing free trade agreement with China and the commerce ministry was working in an aim to conclude the FTA negotiation by 2026.

28 March 2024

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.

Indonesia
29 March 2024

Indonesia is the world's third-largest rice producer and rice is essential in the country's dining tables. However, Indonesian people have been struggling with soaring rice prices in the last few months. As of Wednesday, local media reported that rice prices in some regions across the country are still skyrocketing, ranging from 12,000 to 17,000 rupiah (0.76 to 1.07 U.S. dollars) per kilogram, the highest in its history. 

29 March 2024

President Joko Widodo said that it is hoped that food assistance of 10 kilograms of rice every month for beneficiary families will continue until the end of the year. "I will try, but I don't make any promises," said President Jokowi when handing over food aid to the community in Tolitoli Regency, Central Sulawesi Province

27 March 2024

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.

China
29 March 2024

China's agricultural landscape is undergoing a significant shift as the world's largest hog herd sees a reduction in size, with sow numbers dropping 6.9% at the end of February compared to a year earlier. This decline has prompted the agriculture ministry to lower its target to 39 million head from 41 million, marking the first reduction since the goal was introduced in 2021.

29 March 2024

In two weeks, the international conference "Chinese Grains&Oils Congress" - one of the most expected events of the grain and oilseed market in the Asian region - will start its work in Shanghai. The co-organizer of the event is MYANDE GROUP, the general partner is the National Oilseeds Processors Association (NOPA).

29 March 2024

China’s government work report delivered to the 2024 “Two Sessions” in early March released some important statistics.The GDP surpassed RMB 126 trillion, an increase of 5.2 percent. A total of 12.44 million urban jobs were added, and the average surveyed urban unemployment rate stood at 5.2 percent by average. The consumer price index (CPI) rose by 0.2 percent.

Japan
29 March 2024

Japanese authorities have ordered three “red rice” dietary supplements to be pulled from store shelves nationwide after four users died and more than 100 others were hospitalized, sparking a health scare in the country and across the region.

28 March 2024

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.

28 March 2024

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.

Thailand
28 March 2024

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.

28 March 2024

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.

27 March 2024

“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
29 March 2024

Notices have been issued demanding additional payments, creating significant concerns within the industry. This development threatens to disrupt rice shipments from India, the world's largest rice exporter. Reports from Reuters indicate that several rice exporters have received notices demanding payment of duty differentials on rice exported over the past 18 months.

29 March 2024

Cambodia has become a key exporter in the global food security landscape, exporting upwards of 650,000 tonnes of milled rice over 2.7 million tonnes of unmilled rice to more than 50 destinations in 2023. As a key food producer, the Kingdom has established a long-term vision to enhance its contribution to global food security.

29 March 2024

Central banks across emerging Asia are poised to implement interest rate cuts in the coming months, driven by declining inflation and tepid domestic demand, Capital Economics said in a note on March 28. “The one remaining concern for policymakers is the fear of further falls in their currencies.

29 March 2024

Farmers in the Upper East Region are struggling with the harvest of rice due to the lack of market, leaving many warehouses and farms overwhelmed with over 500,00 bags of the produce in just one warehouse. Madam Glberta Akuka, a member of the BBN farmers network of rice parboilers Cooperative, said low patronage of rice…

29 March 2024

Prices of major staple foods across Nigeria have surged significantly, marking a distressing impact on consumers nationwide. The latest data from the National Bureau of Statistics (NBS) Food Price Watch for February 2024 reveals a stark reality of double-digit increases in essential food items, exacerbating the already high inflation rates gripping the country.

28 March 2024

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…

27 March 2024

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.

27 March 2024

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…

26 March 2024

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.

26 March 2024

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.

25 March 2024

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.

22 March 2024

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…

22 March 2024

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.

29 March 2024

The International Grains Council is forecasting 392 million tonnes of production by the major exporters, an eight million tonne increase over 2023-24 levels. The United States and Australia will be responsible for most of the increase, said the MarketsFarm analyst. Ending stocks are forecast at 59 million tonnes, relatively unchanged from the 61 million tonnes estimated for this year.

29 March 2024

SEVERE Tropical Cyclone Megan made landfall as a Category 3 system on March 18 on the south-western coast of the Gulf of Carpentaria, south-east of Port McArthur in the Northern Territory. The system was downgraded to a tropical low on March 19, as it moved westwards across the interior of the NT towards Western Australia.

28 March 2024

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. 

28 March 2024

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…

27 March 2024

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.

26 March 2024

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.

26 March 2024

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.

25 March 2024

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.

22 March 2024

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.

22 March 2024

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.

29 March 2024

Olha Stefanishyna, Deputy Prime Minister for European and Euro-Atlantic Integration, has announced that the government hopes the ambassadors of EU countries will finally approve the extension of autonomous trade preferences for Ukraine on Friday, 29 March. Stefanishyna noted in an interview with European Pravda as part of the special project "Trade Wars" that the current compromise agreement proposes two key changes that Ukraine is criticising.

29 March 2024

Russia's agricultural watchdog on Monday proposed the redistribution of quotas among grain exporters in case of systematic failures on the part of exporters, such as Russia's RIF trading house. Earlier this month, the watchdog said it had noted a large number of complaints about grain shipped by RIF not meeting international standards.

29 March 2024

At the annual congress of the main French farmers’ union, Agriculture Minister Marc Fesneau outlined in broad strokes the upcoming law on agriculture and took stock of the current and forthcoming national and EU measures in response to farmers’ protests.

28 March 2024

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.

28 March 2024

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…

27 March 2024

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…

27 March 2024

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.

26 March 2024

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.

26 March 2024

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%. 

26 March 2024

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.

29 March 2024

According to the first survey of wheat planting intentions carried out by Safras & Mercado , Brazilian producers must reduce the area under cultivation of the cereal by 12.3% in 2024. In total, the land covered with the crop should reach 2.968 million hectares, decreasing 416 thousand hectares in relation to the 3.384 million hectares of the last harvest.

29 March 2024

Due to large amounts of rainfall in recent days, conditions for corn harvesting have worsened in Argentina. APK-Inform reports this with reference to monitoring data from the Buenos Aires Grain Exchange. The most rain fell in the central and southern regions of the country. On some days, their daily norms were seriously exceeded.

29 March 2024

A crowd swarms the steps of a small state-run market on the outskirts of Santiago, Cuba's second-largest city, sweating and shouting, jostling for a chance at a once-monthly ration of chicken. A pound bag of thighs is going for a bargain 20 pesos - about a nickel at the black-market exchange rate - but furor devolves to chaos as word spreads there may not be enough for everyone.v

28 March 2024

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.

28 March 2024

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.

27 March 2024

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.

27 March 2024

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…

26 March 2024

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…

26 March 2024

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.

25 March 2024

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…

29 March 2024

Saudi Arabia’s wheat production is on a steady upward trajectory, with expectations pointing towards a 25% increase in the upcoming 2024-25 season, reaching a total of 1.5 million tonnes.  This surge in production reflects the nation’s commitment to enhancing its agricultural self-sufficiency while addressing the growing demands of its burgeoning population and expanding economy.

29 March 2024

Every year, the export of agricultural products from Kazakhstan to China continues to show impressive growth. Senior representatives of the country’s agricultural sector discussed the key factors for this growth and prospects for development at the Forum of Kazakh Exporters in Astana on March 26, Kazinform News Agency correspondent reports.

28 March 2024

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.

28 March 2024

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.

27 March 2024

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. 

26 March 2024

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…

26 March 2024

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…

25 March 2024

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.

22 March 2024

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.

22 March 2024

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.

29 March 2024

Latest futures price quotes

29 March 2024

Latest futures price quotes 

28 March 2024

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.

28 March 2024

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.

28 March 2024

Wheat imports in marketing year (MY) 2024/2025 are forecast at 2 million metric tons (MMT).

28 March 2024

Rice export prices decreased 1-3 percent as the Thai baht weakened.

28 March 2024

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.

28 March 2024

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.

28 March 2024

Outstanding export sales and exports by country, region and marketing year

28 March 2024

Commodity Futures Price Quotes For US Dollar Index (ICE Futures)

28 March 2024

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.

28 March 2024

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.

27 March 2024

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.

26 March 2024

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.

26 March 2024

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.

25 March 2024

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.

25 March 2024

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.

22 March 2024

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.”

21 March 2024

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.

29 March 2024

A recent USDA report dives into the transformation of global agriculture over the past six decades, shedding light on key developments and trends. A research economist emphasizes the changes observed during this period. “From 1961 all the way up to 2020, global agricultural output increased by about fourfold.

28 March 2024

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.

28 March 2024

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.

28 March 2024

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.

27 March 2024

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…

27 March 2024

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.

26 March 2024

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.

26 March 2024

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.

22 March 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.

22 March 2024

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…

28 March 2024

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.”

28 March 2024

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.

27 March 2024

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. 

25 March 2024

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.

22 March 2024

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.

21 March 2024

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.

20 March 2024

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.

20 March 2024

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.

20 March 2024

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.

19 March 2024

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

25 March 2024

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

25 March 2024
Leadership...

“As we look ahead into the next century, leaders will be those who empower others.”

-- Bill Gates --