TRT Market Reports

Select the package that best fits your company’s needs . You subscription includes weekly issues of the The Rice Trader Market Report

x

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.

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. 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.”

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.

19 April 2024

Rice millers have yet to implement the food ministry directive to label rice sacks with the name of variety and prices to prevent irrational price hikes, even though a two-month preparatory deadline passed on 14 April. The 21 February directive directed millers to include details like production mill name, district and upazila, production date, mill gate price, rice variety, weight, and price on each sack. 

19 April 2024

War in West Asia and a likely fall in production cause of worry. Rice, India’s staple food, is always in the news – albeit for different reasons. Last June, India’s ban on non-basmati white rice triggered panic and inflation fears across the world markets. At that time, the Indian government had said it was forced to make the decision to soften prices and ensure availability during festival season.

19 April 2024

Saudi Arabia has agreed to increase rice imports from Pakistan to 20 percent of the Kingdom’s total requirement, a Pakistani official said on Wednesday, as the South Asian nation gears up to achieve the $3 billion rice exports for the first time ever. Pakistan and Saudi Arabia have been closely working to increase their bilateral trade and investment, including a recent commitment to invest about $5 billion in Pakistan. 

18 April 2024

The Sabah Cabinet has agreed to revive its padi and rice board as part of efforts to boost the state’s food production and improve food security, says chief minister Hajiji Noor. With Sabah currently relying on imports of approximately 70% of its rice consumption, Hajiji said the revival of the board would help drive the state’s food sufficiency. “The state Cabinet will submit the recommendation to the head of state for the approval…

18 April 2024

"In terms of value, rice exports in seven months of the fiscal year have already reached what the country achieved in the last financial year," Chela Kewlani, chairman, Rice Exporters Association of Pakistan, mention in February. Pakistan’s rice exports soared owing to a good crop size and a jump in prices, with shipments expected to exceed 5 million ton for the first time in history, said Kewlani.

Vietnam
19 April 2024

Forecasts suggest that other markets’ demands for Vietnamese agricultural products will increase further due to abundant supplies and stable prices, while many other countries are facing inflation. In the first three months of this year, durian exports fetched US$254 million, soaring 66 percent year on year, according to the Ministry of Agriculture and Rural Development.

18 April 2024

Vietnam is one of the world's major producers of rice and coffee, and international partners are prioritizing the procurement of Vietnamese products, according to Ly Kim Chi, chairman of the Food and Foodstuff Association of Ho Chi Minh City. Chi was speaking at a press conference to announce the program for the HCMC International Food Industry Exhibition 2024 (HCMC Foodex 2024) on Tuesday.

17 April 2024

The Mekong Delta province of An Giang and the SNV Netherlands Development Organisation on April 15 held a workshop to introduce the project ‘Transforming Rice Value Chains for Climate Resilient and Sustainable Development in the Mekong Delta’ (TRVC).

India
19 April 2024

This is about the rice we eat. More than 90% of the world’s rice is grown by Asian farmers. The vast majority of this rice is produced from farmer-saved seed, and most of it from farmers’ varieties or from varieties produced by public research centres using farmers’ varieties. The private sector, in want of seeds to commercialise and hungry to take a greater piece of the potentially enormous rice seed market…

19 April 2024

India is expected to be the most severely affected as the global urban population facing water scarcity is projected to increase from 933 million in 2016 to 1.7-2.4 billion people in 2050, a flagship UN report said on Tuesday. The 'United Nations World Water Development Report 2023: partnerships and cooperation for water', issued Tuesday ahead of the UN 2023 Water Conference

19 April 2024

Over the past 20 years, the state of Odisha has shown remarkable resilience in the face of natural disasters like floods, droughts, and cyclones. The agricultural sector has played a crucial role in this resilience. The government has implemented strategic initiatives to increase agricultural productivity and ensure food security.

Pakistan
19 April 2024

A delegation from Pakistan, headed by Finance Minister Muhammad Aurangzeb, has arrived in Washington, DC, to take part in the World Bank and International Monetary Fund’s spring meetings, ARY News reported on Monday.

18 April 2024

Sindh Chief Minister Syed Murad Ali Shah expressing concern over the impact of climate change on water scarcity said that this could be addressed by introducing a new cropping pattern that includes low delta crops aimed at reducing water consumption and increasing efficiency in agriculture.

17 April 2024

The Sindh Abadgar Ittehad on Monday accused deputy commissioners concerned of all areas, where cultivation of paddy was banned under the law, of allowing rice cultivation on a massive scale. A meeting of the growers’ body chaired by its head Nawab Zubair Talpur urged Sindh government to fix support price of Rs12,000 per 40kg for cotton…

Philippines
19 April 2024

CABI has attended The Asia and the Pacific Food Security Forum 2024 – organised by the Asian Development Bank (ADB) – as part of its visit to the Philippines and mission to further strengthen partnerships for greater food security in the region.

19 April 2024

THE Department of Agriculture (DA) said it is finalizing a proposal that will “substantially” increase its budget for 2025 to pursue its goal of modernizing the farm and fisheries sectors to produce more food, ensure food security, and increase incomes of farmers and fishermen.

18 April 2024

Photo courtesy of Dr. Romeo Cabungcal through the Palawan Provincial Information Office) The Palawan government has embarked on an initiative centered around the cashew rehabilitation and the rice production programs by distributing agricultural inputs to farmers to reinforce food security.

Bangladesh
19 April 2024

Private importers will have to market 124,000 tonnes of rice by 15 May after bringing in the consignments under a new government notification issued to tame elevated domestic prices. The food ministry had issued a similar order last month allowing in imports of 83,000 toness of rice by private traders.

18 April 2024

Bangladesh government asked the private sector to import 1,24,000 tonnes of rice immediately within a month aiming to further arrest the rice price in the retail market across the country, an official order issued by the Ministry of Food said on Wednesday. A total of 50 private sector rice importers have already got the government approval to import the amount of rice…

18 April 2024

Food ministry on Tuesday permitted 50 private companies to import an estimated 0.125-million tonnes of both parboiled and white rice, according to a circular issued by the ministry. Last month, the government permitted 30 importers to bring 83,000 tonnes of the staple.

Indonesia
19 April 2024

Agriculture Minister Andi Amran Sulaiman said that his ministry is continuing to make efforts to increase planting areas and agricultural productivity in East Java by installing water pumps in order to reduce rice imports. “We installed pumps so that the planting can be increased from once to thrice (per year),” he said after chairing an agricultural equipment provision ceremony in Surabaya, East Java, on Thursday.

19 April 2024

The Industry Ministry has prepared incentives for the import of industrial raw materials from the Middle East to secure the industrial sector amid the turbulent global geopolitical situation. Industry Minister Agus Gumiwang Kartasasmita stated here on Thursday that the incentives are mainly for upstream chemical product industries. 

17 April 2024

Indonesia’s State Logistics Agency (Bulog) has purchased 120,000 tonnes of unhusked rice (GKP) from farmers through domestic rice procurement, the agency announced. The head of Bulog, Bayu Krisnamurthi on April 15 said that Bulog is continuing to procure rice domestically during the ten-day Aidilfitri holidays. As of April 14, Bulog had bought around 120,000 tonnes of GKP, or equal to 64,000 tonnes of rice.

China
19 April 2024

China's economy grew faster than expected in the first quarter of 2024 but lost some of its steam last month, official data shows, and experts told Newsweek whether or not their success will last. This has tempered optimism, leading some analysts to question whether the world's second-largest economy can regain momentum and hit its annual target of around 5 percent annually amid lingering weaknesses.

18 April 2024

China has canceled another batch of US wheat deliveries. This is another such move by the Middle Kingdom recently. Deliveries from Australia were previously canceled. Any such significant move affects futures contracts in Chicago, reports Bloomberg. The US Department of Agriculture reported that private exporters stopped purchasing 264,000 tons of American wheat. 

18 April 2024

China and Europe face a "slow motion train accident" as a rising tide of protectionism threatens to become a full trade war, the head of a European business lobby group warned on Wednesday, a day after Germany's chancellor conveyed European concerns to Beijing.

Japan
19 April 2024

Farmers in Kumamoto Prefecture are struggling with a dire shortage of agricultural land due to the new plant. A range of businesses are arriving in Kumamoto in connection with the global chip giant’s expansion into Kikuyo, contributing to brisk land transactions in the community. 

18 April 2024

Japan recorded a trade deficit for the third straight fiscal year as the costs of energy and other imports rose and the yen remained weak. The deficit was 5.89 trillion yen ($38 billion) for the fiscal year that ended in March, according to Finance Ministry data released Wednesday.

17 April 2024

Japan stock market finished session significantly lower on Monday, 15 April 2024, as risk aversion selloff triggered on tracking soft lead from Wall Street last Friday. Market sentiment was also weighed down by heightening concerns over geopolitical tensions in the Middle East following Iran's retaliatory missile and drone attack against Israel over the weekend.

Thailand
19 April 2024

Thailand sees a prospect of increasing Thai rice’s market share in the Philippines, as the country is expected to import about 4.1 million tonnes, an increase of about 200,000 tonnes, or 5% more than the February projection of 3.9 million tonnes, due to domestic production shortfall.

19 April 2024

The labour union of the Bank for Agriculture and Agricultural Cooperatives (BAAC) is seeking legal opinions about whether the government can borrow from the state-owned bank to support its costly digitalwallet handout. Opinions differ among the membership, union president Supachai Vongvekin said on Thursday.

18 April 2024

A recent trial by Thailand Science Research and Innovation (TSRI) has demonstrated the vast potential of railway logistics for long-distance transportation of agricultural products. The experiment resulted in a 13-fold reduction of carbon emissions compared to air freight, as well as significant cost savings.

Others
19 April 2024

A main opposition-controlled parliamentary standing committee on Thursday unilaterally passed a total of five contentious bills, including a watered-down version of the revision to the Grain Management Act that was vetoed by President Yoon Suk Yeol last year. The move aims to expedite their consideration, intending to usher them directly into a plenary session at the National Assembly for voting.

19 April 2024

The Farmers’ Organisation Authority will apply for an additional quota of local white rice if the existing allocation is insufficient to overcome the shortage in the market, says its director-general, Datuk Azulita Salim.According to Azulita, the LPP has been allocated a quota of 2,500 tonnes per month to be marketed until the end of this year.

18 April 2024

Additional ships loaded with rice are set to depart from Mokpo Port, Ulsan Port and Busan New Port between May and June. Since joining the UN Food Assistance Convention in 2018, Korea has provided 50,000 tons of rice annually with six recipients at most.

19 April 2024

Stakeholders in the rice processing sub-sector are worried that the current biting food scarcity in the country would get worse next year unless the government of President Bola Tinubu properly engaged rice processors in its policy actions.

18 April 2024

Nigerians have taken to social media to rejoice about a significant price shift in the price of a bag of rice amidst the Federal Government's efforts to stabilise commodity prices. The reports of a price reduction from N80,000 to N60,000 were a huge relief among Nigerians who have struggled to buy basic food items in the past year.

18 April 2024

In a chat with reporters in Abuja yesterday, an executive member of the Rice Processors Association of Nigeria (RIPAN), Mohammed Abba Liman, said “the government needs to provide serviceable loans to real and identifiable rice processors in each state of the federation” and declared that “it is not in the interest of the federal government to encourage the importation of rice…

17 April 2024

In his bid to make Jigawa state a bedrock for massive wheat producrion, Jigawa state Governor,  Mallam Umar Namadi,  has embarked on a  study tour to Ethiopia with a high-level delegation comprising key aides on agricultural matters, officials, and professionals from the state’s Ministry of Agriculture and relevant agencies.

17 April 2024

The fact that hunger is destroying the Country is infuriating and frustrating. The cost of a 50 kg bag of rice has skyrocketed, ranging from 60 to 77k, out of reach for the average Nigerian. The salary of graduates of tertiary institutions can hardly purchase a bag of rice. I am exasperated each time I see the price of rice hitting 77k and above. My annoyance originates from my humble knowledge of the solutions to the issues. 

16 April 2024

So far, 17 states have received their shares of the over 1 million 10kg rice, being distributed by the Aliko Dangote Foundation (ADF), across the 774 local governments in Nigeria Managing Director and Chief Executive Officer of the ADF, Zouera Youssoufou, said the Foundation would ensure that all the local governments in Nigeria get their shares of the rice before the end of the Ramadan period.

16 April 2024

lobal grain supplies are comfortable, thus prices have continued to moderate. For example, the Food and Agriculture Organisation of the United Nations Cereals Price Index, which measures the monthly change in international prices of grains, averaged 111  points in March 2024, down 3% from its February level and 20% below its March 2023 value. 

15 April 2024

Nearly 55 million people in West and Central Africa will struggle to feed themselves in the June-August 2024 lean season, according to the March 2024 Cadre Harmonisé food security analysis released by the Permanent Inter-State Committee for Drought Control in the Sahel (CILSS).

12 April 2024

The impact of the El Niño-induced drought on farming conditions is vast, and some provinces' patches of better crop conditions and grazing veld conditions have also deteriorated in some regions. This is according to the Minister of Agriculture, Land Reform and Rural Development (Dalrrd) Thoko Didiza who met organised agriculture leaders…

12 April 2024

Over the next three years, more than 100,000 smallholder farmers from across 22 counties in Kenya will have better access to agricultural inputs through an initiative projected to sprout the country’s food production.

19 April 2024

Australia’s farm chemicals regulator is taking too long to approve new products, leading to billions of dollars in preventable crop losses for one of the world’s biggest agricultural exporters, industry groups say. Australia is a major supplier of goods from wheat and barley to cotton and wine.

19 April 2024

In the week ending 17 April 2024, dry conditions were experienced across much of Australia. Isolated areas across cropping regions in Western Australia, northern New South Wales and southern Queensland recorded up to 25 millimetres of rainfall. Dry conditions in large areas of Queensland would have allowed resumption of summer crop harvests.

17 April 2024

While tariffs were in place, AEGIC continued to engage with the Chinese barley industry to help them stay connected and informed, providing information on new varieties, accreditation developments and industry updates. In late (September) 2023, following the removal of tariffs, AEGIC hosted two major Australian Barley Technical Conferences in Beijing and Guangzhou.

17 April 2024

A newly released Rabobank annual outlook has found Australia’s agricultural sector is “moving confidently into 2024”. Rabobank’s recent agricultural outlook says a combination of better-than-expected seasonal conditions and lower input costs has helped set up the sector for a strong year.

17 April 2024

Australian farmers must continue to adapt to a changing climate or risk seeing their profits halve by 2050, say CSIRO experts. A new report from Australia's national science agency has been released after examining what a sustainable future for agriculture looks like.

16 April 2024

A state government-backed taskforce will assess drought and mental health support for WA farmers who face the prospect of culling herds as they experience one of the driest autumns on record. The announcement comes as producers who sweltered through the hottest summer on record endure soaring feed costs as the hot dry weather flows into autumn.

16 April 2024

AUSTRALIA exported 2,311,024 tonnes of wheat and durum in total in February, according to the Australian Bureau of Statistics. The figure is down 12 percent from 2,620,100t shipped in January, and 24pc from 3,038,779t sent in February 2023.

15 April 2024

The NSW Government will introduce a Bill to Parliament in May, to develop a new rice export marketing and trade arrangement for the Northern Rivers rice growing region. The government said this is an important step in the commitment to bring new opportunities to the state’s agriculture sector, and to ensure regulations do not hinder industry growth.

15 April 2024

TRADED volume in the north remains thin as the market waits for a clearer picture of sorghum quality post-rain to develop. In the south, market activity has picked up a little thanks to increased confidence in new-crop planting, now under way on many farms.

15 April 2024

Do you know how much water you need or could store coming into a drought or dry season? If you don’t, you’re not alone. Murray Local Land Services senior land services officer Paul Simpson said nearly 90 per cent of farmers attending field days on farm dams in 2022 in the Murray region didn’t know what their needs would be.

19 April 2024

Next Thursday 25th April, Members of the European Parliament (MEPs) will be asked to cast their vote on the European Commission recent proposal to alter the EU’s Common Agriculture Policy (CAP), one of the chunkiest and most budget-heavy pieces of legislations.   foodwatch, alongside numerous other civil society groups, has opposed the changes proposed…

19 April 2024

The work of Russian agricultural companies has not been significantly disrupted by heavy flooding in several regions, Agriculture Minister Dmitry Patrushev said on Tuesday, easing fears about possible crop destruction. The area of spring sowing is approaching 5 million hectares, a slightly higher pace than last year, the minister added.

19 April 2024

As Europe seeks to address the threat of climate change, it's imposing more rules on farmers like Ubels. He spends a day a week on bureaucracy, answering the demands of European Union and national officials who seek to decide when farmers can sow and reap, and how much fertilizer or manure they can use.

18 April 2024

"Grain production in Ukraine has remained unprofitable since the Russia's invasion, and this is expected to translate into decreased grain area for MY (marketing year) 2024/25. With CY (calendar year) 2024 yields forecast below the previous near-record-breaking CY2023, the total grain MY2024/25 production volume is forecast to be lower than for the previous marketing year.

18 April 2024

Lithuania suspended regular grain imports in May 2023, and the last delivery took place in July. The first supply since that break was in February: 12.2 thousand tonnes worth 1.95m Euros were imported. Latvia has also increased imports: at the end of winter, it bought 58.8 thousand tonnes of grain from Russia and paid 10m Euros…

17 April 2024

Russia, one of the world's largest wheat exporters, will have 50 million tonnes of grain available for export in the new July-June marketing season, up from more than 37 million tonnes in the current season, its agriculture minister said. Russia competes with the European Union and Ukraine to supply wheat to the Middle East and Africa.

17 April 2024

The profitability of some farms in the European is being squeezed by lower agricultural prices, according to a new report published today (Tuesday, April 16). While high commodity prices in 2022 and 2023 helped offset input costs for farmers over the last two years, the fall in commodity prices towards the close of last year has continued to reverberate and is now impacting on levels of farm profitability.

16 April 2024

Deputy Minister of Agricultural Policy Taras Vysotskyi said that, starting in June, the EU will introduce restrictions on importing certain types of Ukrainian agricultural products if their supply exceeds the quota. Therefore, Ukrainian exporters must look for alternative sales markets because the quotas are smaller than Ukraine’s capabilities.

16 April 2024

Early estimates show that the losses of agricultural enterprises and land in the Kharkiv Oblast due to Russian aggression amount to UAH 18.1 billion (US$464 million). "There are 2,100 businesses of various ownership forms in the oblast, of which 630 have been affected," said Syniehubov.

16 April 2024

Humans are by nature prone to overreaction. Therefore, so are governments. The legislative pendulum swings wildly in one direction, which inevitably leads to problems. The response is often an extreme reaction, sending the pendulum too far in the opposite direction, creating a different set of problems.

19 April 2024

Argentina corn farmers had high hopes for this season’s harvest after near-perfect weather conditions ended years of drought. A record crop would also bode well for President Javier Milei’s plan to turn around the nation’s embattled economy. Now a bug is getting in the way. Corn farmers are seeing their fields ravaged by a plague of leafhopper insects.

18 April 2024

The significance of Brazil's corn and soybean production is a topic that deeply intrigues us and fuels ongoing debates. Just six months ago, delays in soybean planting caused a spike in soybean prices, only for the market to retract as conditions improved. Such estimate fluctuations and discussions are a familiar sight among our southern neighbors. Yet, what's particularly fascinating now is the perspective offered by both the USDA and Conab.

18 April 2024

The Argentina government announced a reduction in taxes for the importation of herbicides, a measure announced by the Minister of Economy, Luis Caputo, aiming to favor agriculture.  The changes include significantly reducing tariffs for herbicides formulated with Atrazine, Glyphosate, and 2-4-D.

18 April 2024

Cuba and Vietnam agreed on Monday to a protocol that covers new agreements to strengthen bilateral cooperation in numerous sectors of the economy, trade, investment and other areas, such as education and science. The document is the result of the 41st Intergovernmental Commission for bilateral economic and scientific-technical collaboration…

17 April 2024

With El Niño exacerbating a severe drought, Bogota’s ten million residents face water rationing, prompting urgent calls for conservation and a reassessment of urban and agricultural practices. Bogota, a vibrant metropolis in the Andean highlands, confronts an environmental crisis that echoes across its streets and into the fabric of daily life. 

17 April 2024

South American corn production numbers will be lower than expected, especially in Argentina. Dr. Michael Cordonnier with Soybean and Corn Advisors, Inc., says Argentina’s corn crop is suffering from unexpected pest pressure. “USDA left their soybean estimate unchanged at 50 (million tons).

16 April 2024

Prolonged rainfall over Argentina's farming heartland has fueled fears of delays to the ongoing soybean harvest that could cause production losses, the Rosario grains exchange said on Monday. Since Friday, at least 70 millimeters (2.76 inches) of rain fell across most of the agricultural region, with peaks of 140 millimeters in some parts.

16 April 2024

In 2022, the China-aided Suriname Agricultural Technical Cooperation Center launched a technical assistance project, including 10 training sessions for over 300 individuals. Surinamese President Chandrikapersad Santokhi attended the launch ceremony.

15 April 2024

Already a major soybean, corn, and cotton grower, Brazil could expand its crop area by more than a third by converting overgrazed and overgrown pastureland, according to a research agency that is part of the Brazilian Ministry of Agriculture. Besides the potential addition of 70 million acres of cropland, Brazil could increase production…

15 April 2024

TWO or three decades ago, the Guyana economy rested on the tripod of the sugar, bauxite and rice industries. If all three industries functioned very well and could sell their products profitably in the foreign markets, the country experienced a phase of prosperity. 

19 April 2024

This initiative aims to enhance rice productivity, reduce water usage, and ensure food security in Egypt. During a Wednesday meeting held to discuss the status of rice cultivation and innovative mechanisms to boost production, Madbouly emphasized the strategic importance of rice as a staple food for Egyptian citizens and a key economic crop.

19 April 2024

Kazakhstan has for nearly two weeks been grappling with the worst flooding in living memory after very large snow falls melted swiftly amid heavy rain over land already waterlogged before winter. Swathes of northern Kazakhstan were flooded again on Monday (15 April) as melt waters swelled the tributaries of the world's seventh longest river system, forcing more than 125,000 people to flee their homes.

18 April 2024

Any conflict in the Middle East could significantly affect crude oil prices, given that a majority of the world's crude oil supply originates from this region. The geopolitical instability in the Middle East has historically been a key factor driving volatility in oil markets. 

18 April 2024

Egypt’s Minister of Agriculture El Sayed El Quseir, announced Monday that Egyptian agricultural exports exceeded 2.2 million tons of agricultural products in the first quarter of 2024, amounting to about $1.5 billion, an increase of $300 million over the same period of the previous year.

17 April 2024

Wheat imports for Jordan are estimated to reach 1.2 million tonnes in 2024-25 as the government begins filling its strategic grain reserves to mitigate inflationary shocks caused by geopolitical crises, according to a report from the Foreign Agricultural Service (FAS) of the US Department of Agriculture.

16 April 2024

Iran’s rain of drones and missiles may have caused little damage to Israel. However, the impact of an escalation in West Asia could be widespread. Market watchers believe it could lead to rising oil prices as well as impact trade and travel plans. Iran stepped out of the shadows on Saturday (13 April) and launched an unprecedented attack against Israel.

16 April 2024

Kazakhstan has extended the ban on wheat imports for another six months, reports  the Ministry of Agriculture.“Order of the Minister of Agriculture dated April 11, 2024 No. 125 impose a ban on the import of wheat into the Republic of Kazakhstan, including from the EAEU member states…

15 April 2024

The ongoing conflict between Iran and Israel could disrupt the aviation and shipping industries, sparking concerns over air travel safety and maritime security worldwide, besides a potential rise in airfares, increased war-risk premium for vessels operating in the area, as well as risks to agriculture trade.

15 April 2024

Oil prices are expected to rise on Monday after Iran’s attack on Israel over the weekend, analysts said on Sunday, but further gains may depend on how Israel and the West choose to retaliate. Iran launched explosive drones and missiles at Israel late on Saturday in retaliation for a suspected Israeli attack on its consulate in Syria on April 1…

12 April 2024

The worst hit areas in Russia are just to the south of the Ural Mountains, about 1,200 km (750 miles) east of Moscow. Emergencies have been declared in the Orenburg and Kurgan regions of the Urals and in the Tyumen region in western Siberia, which is the largest hydrocarbon basin in the world.

19 April 2024

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

19 April 2024

In market year (MY) 2024/2025, FAS (Post) forecasts Venezuela’s corn production to reach 1.36 million metric tons (MMT), 5 percent higher year-on-year due to favorable weather conditions.

19 April 2024

In 2023, feed demand was low due to weak demand in Europe and the United States for Vietnamese produced aquaculture products.

19 April 2024

Rice production in Cambodia is forecast to increase due to higher rice prices and the use of higher quality seeds.

19 April 2024

FAS/San José anticipates Costa Rica's Ministry of Foreign Trade to allocate 2024 Dominican Republic - Central America Free Trade Agreement rice quota allocations by the end of April, effectively constraining the availability of U.S. duty-free rice to the final eight months of 2024.

19 April 2024

Costa Rica reinstated 35 percent tariffs on non-U.S.-origin rice after an administrative court overturned an August 2022 tariff reduction and the Government’s appeal was rejected.

19 April 2024

In MY 2024/25, EU grain production is anticipated to exceed the previous season’s levels and amount to 274 MMT.

19 April 2024

Hait’s rice imports for marketing year July 2024 through June 2025 (MY 2024/2025) are forecast at 475,000 metric tons (MT), marginally higher compared to the previous marketing period driven by ongoing challenges to increase local production.

19 April 2024

Argentine wheat production in marketing year (MY) 2024/2025 is forecast at 16.8 million tons, 1 million tons higher than the previous weather-affected season.

19 April 2024

The outlook for 2023/24 U.S. wheat is for stable supplies, lower domestic use, unchanged exports, and higher ending stocks

19 April 2024

While there are scores of variables, such as weather, commodity prices, crop rotations, politics and equipment malfunctions, that may hinder Arkansas’ rice farmers, there is one constant that growers can count on. The state will continue to rank first in the U.S. in rice production. California is the second-leading rice producer in the country…

19 April 2024

India has opened up its market to the American farming industry in as many as 12 different categories, a top Biden administration trade official told lawmakers on Wednesday. However, Senator Ron Wyden raised concerns about India's wheat subsidies distorting prices and hurting American farmers. He stressed the importance of enforcing trade rules to protect American workers and businesses.

19 April 2024

The leaders of the Senate Finance Committee told U.S. Trade Representative Katherine Tai in a hearing Wednesday U.S. agriculture needs a real trade agenda. Ranking Member Mike Crapo from Idaho referenced a letter sent by commodity groups to USTR this week and said dispute settlement reform is also needed “so we can open markets for them.”

18 April 2024

Profit is growing further out of reach for U.S. wheat farmers and many do not expect to break even in 2024 as ample global supply keeps prices around their lowest in nearly four years at the same time costs including equipment and transport remain high. The current state of the U.S. wheat market will hit winter wheat farmers in the Great Plains hard.

18 April 2024

The head of the National Association of State Departments of Agriculture says the Biden administration has to step up its efforts to increase demand for US ag goods. Ted McKinney says he respects the administration for what it is trying to do. “There is a lot you can do just to enforce existing trade agreements or existing WTO compliance,” he says. 

18 April 2024

US Trade Representative Katherine Tai said on Tuesday that India's decision to remove retaliatory tariffs on several US products has improved access to chickpeas, lentils, almonds, walnuts, and apples and is benefiting farmers across the country.

17 April 2024

Following two consecutive years of decline (see Figure 1), United States rice production increased to roughly 2.9 million acres in 2023. 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. Production increases in 2023 (see Figure 1) followed 2022 high prices that were last seen around harvest of 2013.

17 April 2024

Those who know little about production agriculture will often ask us why we have a farm safety net in the United States. While there are several justifications to choose from, one of the most notable is that farm policy is designed to help level the playing field for U.S. agricultural producers in the global marketplace. In this article, we illustrate the case of rice.

17 April 2024

Slowing demand for key commodities such as wheat and soybeans continues to depress prices for farmers, according to the latest estimates from the U.S. Department of Agriculture. Meanwhile, rising prices could spell long-term volatility for the meat industry.

16 April 2024

The grain market needs a friend this spring. Several sources for this helping hand were in play last week, but none really stepped forward. However, corn and soybean prices finally stabilized on Friday to keep nearby futures off March lows. The most likely suspect usually is USDA, but April’s World Agricultural Supply and Demand Estimates came and went without much impact.

19 April 2024

While shoppers battle with the cost of food at the check-out, farmers around the world are expected to plant fewer crops this year, largely because the cost of growing some produce is higher than its potential value. Global wheat and corn prices have halved since record peaks in 2022, but the cost of essential inputs such as fertiliser remain historically high…

19 April 2024

National feed wheat trader, Cameron Curry, gives a detailed overview and technical update on the current grain markets.

18 April 2024

In the paper “News Event-Driven Forecasting of Commodity Prices,” NYU Stern Professor Srikanth Jagabathula, along with co-authors Sunandan Chakraborty (Indiana University), Lakshminarayanan Subramanian (NYU Courant Institute), and Ashwin Venkataraman (UT Dallas), looks for a solution to more accurately forecast commodity prices given the volatility of real-world events that impact those prices.

17 April 2024

Russia intends to establish a “grain exchange” with BRICS nations, aspiring to use this trade alliance of nine emerging countries to challenge Western dominance in agricultural trade. While the officially declared purpose of the inter-bloc grain exchange is to facilitate trade between BRICS member states, analysts say that the new alliance actually aims to become an analogue of the Organization…

17 April 2024

A cooperation agreement by the Philippines, the United States and Japan will change the dynamic in the South China Sea and the region, Philippine President Ferdinand Marcos Jr. said on Friday, while seeking to assure China it was not a target. “I think the trilateral agreement is extremely important,” Marcos told a press conference…

15 April 2024

Global shipping disruptions continue to impact grain merchandisers. CHS CEO Jay Debertin says the Baltimore bridge collapse is affecting the movement of ag commodities, but not to the degree of the Panama and Suez canals. “Two shortcuts around the world for many ag commodities, and they aren’t working smoothly right now for different reasons.

15 April 2024

The Cameroonian Ministry of Commerce announced yesterday a significant reduction in rice prices effective Friday. This price adjustment follows the arrival of a portion of the 190,000 metric tons of rice negotiated with India.

12 April 2024

Earlier today USDA released the April World Agricultural Supply and Demand Estimates (WASDE) report. U.S. corn ending stocks were decreased, but not as much as traders expected. Soybean ending stocks were increased more than expected, although Joe Lardy, a research analyst with CHS, says that can be explained by USDA holding soybean crush steady in the report.

11 April 2024

According to a report by the Cambodian Rice Federation, in the first quarter of 2024, Cambodia exported 167,000 tons of rice , with an export value of US$120 million. Among them, 43,000 tons were exported to China , accounting for 25.8% of the total export volume, a decrease of 49% compared with the same period last year. 

10 April 2024

In an election-packed year, markets have so far shrugged off results, with the focus squarely on the one contest that could reverberate across everything from international trade to emerging market debt: the United States presidential race in November. Voters in India, meanwhile, will cast ballots later this month…

18 April 2024

When she ventured into rice farming more than ten years ago, Grace Okello was optimistic that the crop would be the game-changer to transform her economic fortunes. And like the other farmers, she focused on the local seeds that most farmers in Bunyala and its environs have always relied on.

17 April 2024

Philippine Rice Research Institute (PhilRice) is partnering with an inter-governmental, non-profit organization in identifying a potential biocontrol agent that may help stave off infestations of fall armyworm (FAW).

17 April 2024

Rice is the most important staple food in the world, and its management is therefore of vital importance. Rice management of the people of Kasepuhan Sinarresmi, Sukabumi Regency West Java, Indonesia is symbolized in cultural practices of farming.

15 April 2024

The International Rice Research Institute (IRRI) and the International Cooperation and Development Fund (TaiwanICDF) signed a cooperation agreement to implement the Capacity Building for Sustainable and Low-Carbon Rice Innovations in Southeast Asia (Cabin) project.

15 April 2024

Researchers at the University of Geneva (UNIGE), in collaboration with teams at ETH Zurich and Taiwan's National Chung Hsing University (NCHU), have achieved a significant advance in the fight against vitamin B1deficiency, frequently associated with a rice-based diet.

12 April 2024

Rice has become a big part of Ghanaians' daily diet. The country consumes about 1.45 million tons a year—but produces only 987,000 tons, approximately 68% of that. Efforts to produce more rice often involve providing improved seeds and fertilizers for farmers to increase their farm size. This results in increased labor-intensive work for smallholder farmers.

10 April 2024

US agriculture groups are urging government officials to deny a request for zero emissions standards for freight locomotives in California, saying such regulations pose “a significant danger” to US agriculture and the supply chain. The California Air Resources Board (CARB) is proposing an “In-Use Locomotive Regulation” that would mandate by 2030 the use of only zero-emissions locomotives in California.

10 April 2024

“Russia and Ukraine are selling their wheat at below production costs. I've suspected this and we've suspected that for a long time, but men of course they are trying to fund the war. But it matters because a market like Nigeria is one where we have had a strong market share for many, many years.

09 April 2024

The growing global concern about food security will be exacerbated by a projected population increase of nearly 10 billion by the year 2050. Rice cultivation is central to this discussion, as it feeds more than half of the world’s population. This systematic review addresses the urgent issue of global food security with an emphasis on sustainable rice farming. 

05 April 2024

USAID Morodok Baitang is working with local farmers in Cambodia to advance low-emissions agriculture and reduce deforestation in and around protected areas. By providing economic incentives to help farmers adapt to and mitigate climate change, USAID Morodok Baitang demonstrates how agriculture can be climate-smart, conservation-friendly, and economically viable.

Executive Summary

22 April 2024

As an important note to our weekly TRT readers, we have made an internal decision to start showing more internally kept trade data in the #3 vessels section, which will some key trade flows from various origins, sellers. trade prices, buyers, and final destinations.  We suggest you watch this list as it builds. Our internal PRIVATE sources say the India ban is here to stay and this is a huge piece of the puzzle on many levels.  The flow is still very strong though, so does this really matter?  The market started the week from straight boring as we awaited the BULOG tender and have many players still out on vacation for EID and other personal holidays.

Thought of the week

22 April 2024
Habit Of Excellence...

“We are what we repeatedly do. Excellence, then, is not an act, but a habit.”

-- Aristotle --