The daily routine of farmers has undergone a complete transformation, shifting from traditional methods of observing nature to relying on smartphones as an essential tool. The Mekong Delta is witnessing a continuous digital transformation revolution in agriculture, unfolding every day and every hour.
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. 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. 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
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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. 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.”
Rice News
Vietnam
According to Vietnam Agriculture News (VAN), a conference was held on April 26 by the Ministry of Industry and Trade, in collaboration with the Ministry of Agriculture and Rural Development and the People's Committee of Can Tho City. The goal of the conference was to evaluate the outcomes of rice exports in the first quarter of 2024 and discuss the future direction of rice exports.
The Ministry of Industry and Trade requests to ensure full traceability documents and records in purchase, consumption, export of rice to ensure no commercial fraud and preserve brand and reputation of Vietnamese rice. The Ministry of Industry and Trade today coordinated with the Ministry of Agriculture and Rural Development and the Can Tho City People's Committee to organize…
India
Due to adverse human behaviour, the earth’s temperature is on the rise, and the resulting climate change has now become a threat to every aspect of human life, as well as to water bodies and rivers. The dangerous impacts of climate change are being felt at alarming levels on total water storage in major reservoirs and river basins…
Shares of this microcap company jumped upto 3 percent in Tuesday’s trading session after receiving the first order from the Ministry of Agricultural, Fisheries Wealth and Water Resources, Sultanate of Oman, to supply Premium basmati rice.
An integrated package of management technologies must be developed to deal with the challenges of the DSR system and enable farmers to obtain yield levels comparable with those of the transplanted rice system. This requires strengthening of the multidisciplinary research system to provide solutions for the factors that reduce DSR rice yield.
Pakistan
The country is likely to miss the agriculture growth target of 3.5 percent set for 2023-24, as ongoing rains will negatively impact Kharif crops owing to delayed sowing of some of the major Kharif crops and a decline in fruit production.
Pakistan Prime Minister Shehbaz Sharif has finally responded to farmer protests in his country over delays in the grain's buying process by ordering an increase in the wheat procurement target from USD 1.4 million tonnes to USD 1.8 million tonnes, Dawn reported. Further, Sharif has instructed the Pakistan Agricultural Storage and Services Corporation Limited (Passco)…
The Monetary Policy Committee (MPC) of the State Bank of Pakistan (SBP) has decided to keep the policy rate unchanged at 22 percent. The announcement came after a meeting of the bank’s Monetary Policy Committee (MPC) today. At its meeting today, the Monetary Policy Committee (MPC) decided to keep the policy rate unchanged at 22 percent.
Philippines
Farmers in the Philippines may be able to continue growing golden rice genetically modified to combat malnutrition, despite a court decision revoking the permit for planting it. The Philippines government will object to the decision, says Adrian Dubock, a member of the Golden Rice Humanitarian Board that guided the rice’s creation. “An objection will be filed with the appellate court, and I presume will be successful,” he says.
Nearly three decades ago, the Philippines suffered one of the most severe El Niño episodes in its history. The weather phenomenon that struck the country in 1997 caused below-average rainfall and dried up farmlands. Parched farms failed to produce staple crops, prompting the government to import millions of tons of rice to prop up domestic supply.
PHILIPPINE rice yields are expected to decline this year and in 2025 because of the rise in fertilizer prices following Russia’s invasion of Ukraine, the Asian Development Bank (ADB) said. “Doubling fertilizer prices in the Philippines would lead to a 0.24% to 0.28% decline in rice yields from 2022 to 2025,” the ADB said in its report, “The Russian Invasion of Ukraine, Fertilizer Prices, and Food Security.”
Bangladesh
The current hot spell entire Bangladesh now reels under is wrecking massive havoc to the fisheries, agricultural sectors of the southwestern region. Insiders said the prevailing heatwave has brought those involved in the two sectors to their knees causing a staggering loss of Tk 100 billion (Tk 1000 crore).
In the pursuit of agricultural sector development, it's imperative to enhance the accessibility of loans for marginal farmers. However, due to certain shortcomings within our financial system, many marginal farmers struggle to secure loans from formal institutions like banks. This difficulty stems from issues such as remoteness…
Farmers in seven haor districts in north-eastern Bangladesh were racing against time with their boro harvest after rivers in the Meghna basin swelled steadily in the past two weeks. The Flood Forecasting and Warning Centre under the Bangladesh Water Development Board raised an alert for a flash flood in the first week of May amid forecasts of heavy to extremely heavy rain continuing in upstream India over the next five days, starting today.
Indonesia
The price of rice in Indonesia has increased significantly in recent times. The increase in rice prices reached IDR 18,000 per kg at the end of February 2024, becoming the country's highest record in the history of rice. This increase exceeds the highest retail price (HET) the government sets.
Minister of Trade Zulkifli Hasan stated that the revision of Minister of Trade Regulation (Permendag) Number 36 of 2023 concerning Import Policies and Regulations had been completed. Hasan remarked that Permendag Number 36 of 2023 has now been changed to Permendag Number 7 of 2024.
In this meeting, the Minister of Agriculture of Indonesia, while referring to climate change and its adverse effects on agricultural products, called for the use of the knowledge of Iranian experts in the field of water resources management and the use of technological capacities, especially nanotechnology in agricultural industries.
China
Industrial and Commercial Bank of China (ICBC), the nation's largest lender, reported its first decline in quarterly profit in more than a year as margins continue to contract. Net income fell 2.78 per cent to 87.7 billion yuan (US$12.1 billion) in the first quarter, the bank said in an exchange filing on Monday. Its net interest margin narrowed to 1.48 per cent from 1.61 per cent at the end of 2023.
Chinese scientists have successfully developed fast breeding rice in desert greenhouses in Hotan Prefecture, Northwest China's Xinjiang Uygur Autonomous Region, for the first time under the trial period, making the rice grow from planting to harvest in just 75 days.
Declining arable land and yield stagnation pose serious challenges to food security in China. Since 2004, the Chinese government has introduced rice support policies to stimulate rice production. A bundle of incentives, including a minimum procurement price, were introduced. Whether they were effective?
Japan
The value of Japan’s currency has tumbled so much, that its value is back to where it was in 1990, shortly after Japan’s famous “bubble economy” burst. For a moment on Monday it was trading at 160 yen to US$1. A few years ago, it was closer to 100 yen to US$1.
As Japan’s rice farmers prepare for a new planting season, many will be hoping that this summer brings a reprieve from 2023’s brutal weather conditions. Niigata Prefecture, for example, typically known as Japan’s leading rice-growing region, had one of the poorest rice harvests in the country last year. “Extreme heat and low rainfall led to chalky or split grains,” laments Toru Tanabe, an official with the city of Agano.
Figures released today, and reported by BBC News, show that the nation’s trade gap shot up by a striking 71 per cent in January compared to the previous month, taking the total as high as 2.79 trillion yen (£16.4 billion). Although January’s data represents the nineteenth consecutive month in which the deficit has grown, the new record has cast further doubt on what has proven to a divisive approach to monetary policy.
Thailand
The sweltering weather conditions currently sweeping across Thailand have prompted the Department of Internal Trade (DIT) to closely monitor their impact on the country’s agricultural and livestock production. Despite the challenging weather and drought, DIT Director-General, Wattanasak Sur-iam, assured that the price of agricultural goods remains stable.
The final cabinet reshuffle list has already been signed off by Prime Minister Srettha Thavisin and submitted for royal endorsement, according a Government House source. The PM, however, remains tight-lipped about the matter.
As global attention shifts toward sustainable agricultural practices, the International Rice Research Institute (IRRI) has organised a Policy Forum entitled "Strengthening Thailand’s Low-Emission Rice Market: Learnings from the Thai Rice NAMA Project" at the Asawin Grand Convention Hotel in Bangkok
Others
The Finance Ministry has allocated Rs. 20 billion to supply rice free to nearly 2.7 million needy families across the country. This commitment follows President Ranil Wickremesinghe’s pledge to provide 20kg of rice to low-income families in May and June.
Asian central banks should continue to focus firmly on domestic price stability and avoid making policy decisions overly dependent on anticipated interest rate moves by the Federal Reserve, said Krishna Srinivasan who is the International Monetary Fund (IMF) Director for Asia Pacific.
The Kedah Regional Development Authority (Keda) intends to develop fragrant rice and hill paddy planting in several agricultural areas in its region this year. Its chairman, Datuk Seri Jamil Khir Baharom said the desire was in line with Keda’s efforts to rehabilitate and upgrade 400 hectares of land this year after receiving an allocation of RM1.25 million.
The Association of Rice Millers has confirmed that the reopening the Nigeria-Niger border is responsible for declining rice prices nationwide. Naija News reports that rice prices decreased by 19 per cent despite rising inflation, which stood at 33.20 per cent in March 2024.
Food price inflation in South Africa has dropped to the lowest point since September 2020, says Wandile Sihlobo, Chief Economist of the Agricultural Business Chamber of South Africa (Agbiz), and the outlook for the rest of the year could be better than expected, despite the risks from drought conditions.
Rice millers that were forced out of business in Africa’s most populous nation are gradually reopening their factories as it becomes affordable to source critical inputs. The millers have the lifting of sanctions on the Niger military junta by the Nigerian government to thank for their renewed ability to import paddy- a key input for their operations.
Lack of rain due to the El Niño weather phenomenon is damaging southern Africa’s cereal grains production outlook and threatening already fragile food security in the region, according to the Food and Agriculture Organization of the United Nations (FAO). The foreseen shortfall in production, especially for maize (corn), is expected to intensify households’ food insecurity…
In many countries in West Africa, agriculture remains one of the main economic drivers, ensuring the livelihoods of millions of people as a primary source of employment. According to the International Fund for Agricultural Development, the African agrifood sector is estimated to reach $1 trillion by 2030.
An African Development Bank (AfDB) funded project, implemented by the Sasakawa Africa Association (SAA) in Nigeria and Benin Republic, has trained farmers in Nasarawa State on new technologies to improve rice production and maintain soil fertility.
As Nigerians grapple with the prolonged spectre of the prohibitive cost of food, analysts believe focusing on the normalisation of the exchange rate and the taming of the rising inflationary rates alone without addressing other issues like insecurity and smuggling of food items across borders will only prolong the Nigerian food crisis, writes Festus Akanbi
The President of the All Farmers Association of Nigeria, Kabir Ibrahim, has disclosed that imported rice from India comes at a landing cost of $58 per bag. Ibrahim, in a recent chat with The PUNCH in Lagos, said local rice was cheaper because of the country’s high exchange rate. “It is not competitive for you to use forex to buy anything and bring it to Nigeria.
In a bid to address Kenya’s significant rice production shortfall and enhance farmers’ income, the African Agricultural Technology Foundation (AATF) is pushing for the adoption of high yielding hybrid varieties to reduce the government’s annual rice import bill.
The price of paddy rice in Africa’s most populous nation has declined by a third over the past two months after the reopening of the Nigeria-Niger land border, a significant boost for struggling millers. Millers are importing cheaper paddies from neighbouring countries to run their mills, thereby driving prices down, according to industry sources who expect a further decline when the harvest season kicks off in two months.
Today the Grains Research and Development Corporation (GRDC) launched the GRDC Data Catalogue, enabling Australian researchers to tap into a goldmine of information to accelerate the release of new technology and knowledge for grain growers.
SETTLED weather dominated much of Australia during the week, as a high-pressure system extended a ridge across southern parts of the continent and gradually moved eastwards. Rainfall was limited to the far-north, parts of the eastern and southern coasts, Tasmania, and patchy areas in the inland west of Western Australia.
PEAK sheep and cattle producer bodies have welcomed an $8.6 million support package for Western Australia’s agricultural industries and rural communities impacted by the current drought conditions.
THE DEPARTMENT of Agriculture, Fisheries and Forestry has voiced concerns around a possible container levy or further increases to the Full Import Declaration, proposed by agricultural and freight groups as alternative funds streams to the controversial Biosecurity Protection Levy.
The Grains Research & Development Corporation (GRDC) and CSIRO, Australia’s national science agency, are urging growers and advisers to be vigilant due to reports of moderate to high mouse activity in several regions across Australia.
A lingering dry, hot summer is increasing concerns for grain farmers in Australia’s top producing state as they begin planting the next crop, according to the Grain Industry Association of Western Australia. Growers are taking a cautious approach as the soil is extremely dry, the association said in a monthly report Friday.
Autumn and Winter waterlogging is relatively common in WA’s Albany and Esperance port zones, but it can severely impact grain production.
The mounting pressure on the Federal Government to scrap the proposed biosecurity tax continues to build as Grain Producers Australia and other industry groups make submissions and statements to the Senate Inquiry into the legislation. A Farm Online article has highlighted staunch opposition from GPA and misgivings from Grain Growers regarding consultation…
FIGURES released by the Department of Agriculture, Fisheries and Forestry reveal the grain industry will contribute $12.25 million under the proposed Biosecurity Protection Levy, the most for any commodity impacted by the legislation. This figure is out of the total revenue of $51.8M that DAFF estimates will be raised by the BPL if it comes into force on July 1.
Major supermarkets need to be held more accountable for their actions, the federal agriculture minister has declared, expressing confidence suppliers will soon secure better deals with grocery chains. After the heads of Woolworths and Coles were grilled in fiery parliamentary hearings, Murray Watt said progress was being made on farmers receiving a fair price for their produce.
Polish farmers stopped their months-long protest at the last border crossing with Ukraine on April 29, Reuters reported. Truckers and farmers have blocked border crossings since fall, expressing concerns with unfair competition and cheap grain. They said the government didn’t take any action to prevent a loss of business to foreign competitors since Russia’s war on Ukraine.
COCERAL, FEFAC and FEDIOL, representing the grain and oilseed trade, feed industry and oilseed crushing industry, released a statement on April 26 endorsing the recent adoption of the Corporate Sustainability Due Diligence Directive (CSDDD) by the European Union. The law is now subject to final approval by Member States, after which it will be transposed into national law.
The United Kingdom does not feed itself, relying heavily on the European Union for fresh fruit and vegetables. That dependency has changed little since Britain left the bloc in 2020, and could now mean more pain for consumers and small businesses.
The European Commission has started explanatory meetings with Ukrainian representatives regarding the implementation of official screening within the section of negotiations on agriculture and the development of rural areas. It is noted that the meetings took place a month earlier than planned. The explanatory meetings will continue until the end of May.
Euronext wheat extended a rally on Friday to reach its highest since December as traders grappled with weather charts suggesting little rain relief for a parched crop belt in top exporter Russia. September wheat, the most active position on Paris-based Euronext, was 1.3% up at 234.50 euros ($250.28) a metric ton by 1527 GMT, putting it up 9% this week.
The first grant tranche in the amount of €6 million to support dekhkan farms has already been allocated. The European Union has allocated a grant to the government of Uzbekistan for the development of agriculture. This was reported on the website of the EU delegation in the republic.
A coalition of 15 EU countries intends to increase de minimis state aid to the agricultural sector. Euractiv writes with reference to a note circulated among member states. The EU agriculture ministers are planning to discuss this proposal in detail at a meeting on Monday, April 29, UNN reports .
It took only 40 days for the European Parliament to give its final nod to a legal package simplifying farm subsidies – a record for reforming a such major policy area. The plan was presented to EU lawmakers in mid-March by the European Commission, in a bid to cut red tape and reduce certain green conditions in the Common Agricultural Policy (CAP).
On Tuesday, the European Parliament voted by a large majority to extend the duty-free import of Ukrainian agricultural products for another year, further complicating the situation for European farmers, Agriculture Minister István Nagy said in a statement. The Minister pointed out that Brussels continues to support Ukraine with its pro-war policy and leaves European farmers on their own.
Germany is calling for an import ban on agricultural products from Russia and Belarus. An ag policy spokesperson for The Bundestag, Germany’s parliament, argued Germany and Europe are not reliant on Russian grain and continued imports from the adversarial nation must be halted.
Argentina grains ports were being impacted by strike action against government reforms for a second day on Tuesday, industry officials told Reuters, hitting shipments of soy, corn and wheat from one of the world’s top grains exporting countries. “The strikes are affecting the ports of Rosario. They are affected by the strike measures taken by SOEA and the oilseed federation,” Guillermo Wade, manager of the Chamber of Port and Maritime Activities, told Reuters.
ARGENTINA’S corn-production forecasts are being adjusted drastically lower as the crop, which only a month ago was widely expected to be a record, battles a rare leafhopper plague. This sap-sucking pest is also a vector for the highly pathogenic crop disease known as spiroplasma. More commonly known as corn stunt disease, it can decimate the maturing corn plant…
Brazil's grain exports will pick up in the second half as soy and corn supplies increase despite a drought in the center-west earlier, Reuters reported, citing Cargill's Brazil president Paulo Sousa. Citing a positive outlook for soy in the Matopiba region and in Rio Grande do Sul, Brazil's southernmost state, Sousa said in an interview that soy output projections may be revised upwards.
Workers in Argentine soy-processing plants have gone on strike just as farmers are collecting the crop. The job action that began Monday threatens to paralyse output from Argentina, the world’s biggest supplier of soy meal for livestock feed and soy oil used in food and biofuels.
Argentina’s massive Rosario farming port lost its spot as the world’s No. 2 grains export hub in 2023, a report from a local exchange showed on Friday, underscoring the impact of a historic drought that hammered corn, wheat and soy last year. Rosario shipped out 42.4 million metric tons of grains last year, falling below the sprawling Santos port in Brazil, which exported 62.3 million tons.
The Rosario Board of Trade in Argentina recently projected corn yields to be down 30% due to stunt spiroplasma disease. That estimate would lower the country’s production by 7 million metric tons to 50 million metric tons. Spiroplasma disease stunts corn growth and turns leaves red. The disease was caused by three consecutive years of La Niña with severe drought and high temperatures.
Brazil leads the world in soybean production. News about the size of Brazil’s crop moves markets, but an ongoing debate about which numbers to trust is adding uncertainty to the current market situation (e.g. Braun, 2024; Siqueira, 2024; Vaclavik, 2024).
Brazilian farmers in Mato Grosso state have cut the area planted with second corn this season by 10% as low prices push them to cultivate alternative crops, a trend they say is likely to continue. Brazil’s second corn must be sowed immediately after the soybean harvest to avoid the dry and colder season.
The Argentine government said it plans to invest approximately $550 million to build a new grain port in the Rosario region. The region is considered a vital agricultural center for Argentina, accounting for more than 80% of the country’s agricultural and agro-industrial exports.
Given the record wheat yields the last two years, farmers in Uruguay are expected to plant more in the 2024-25 season, but total production is expected to drop slightly, according to a report from the Foreign Agricultural Service (FAS) of the US Department of Agriculture (USDA).
Oil prices lost more than $1 a barrel on Monday as Israel ceasefire talks in Cairo tempered fears of a wider Middle East conflict, while U.S. inflation data dimmed the prospect of imminent interest rate cuts. Brent crude futures for June settled at $88.40 a barrel, falling $1.10, or 1.2%. The more active July contract ended at $87.20, losing $1.01 a barrel.
Two vessels carrying wheat purchased by Egypt's state grain buyer are facing delays in Russia, two sources with knowledge of the matter told Reuters, amid a dispute that caused other delays in the past month. Wadi Tiba and Edfu, both loaded with around 60,000 metric tons of wheat purchased by the General Authority for Supply Commodities (GASC), have been stuck for weeks in Russian ports, the sources said.
On 30 April, talks held in Dushanbe between Prime Minister of Kazakhstan Olzhas Bektenov and Prime Minister of Tajikistan Kokhir Rasulzoda focused on Kazakh-Tajik cooperation in trade and investment, industrial cooperation, agriculture, transport connectivity, water, and energy.
India and Oman will sign a trade deal in the coming months, two Indian government officials said, as New Delhi seeks to expand its ties in the Middle East, where rising tensions are putting major shipping routes at risk. India and Oman have annual trade of less than $13 billion, but the relationship is important for New Delhi as the Gulf nation is a gateway to the narrow Strait of Hormuz…
Iraq faces a critical environmental crisis as desertification and land degradation continue to threaten agricultural viability, with only 14 million dunams of land remaining suitable for farming, according to the Iraqi Ministry of Environment. The alarming statistics reveal that 71 percent of arable land in Iraq has already succumbed to desertification....
The Iraqi army has imposed a ban on wheat and barley harvesting in the Sargaran border area of Kirkuk province, sparking tensions with local farmers. In a recent directive, the Iraqi army ordered the suspension of harvesting activities in the villages of Salayi in the Altun Kupri, also known as Perde…
Meyrambek Donenbayev, a deputy of the Jambil regional council in Kazakhstan, has ignited a contentious discussion by proposing a significant hike in the price of bread. Donenbayev's proposal, as reported by Jambylinfo.kz, suggests raising the price of bread by 500 tenge, which translates to $1.13 ( based on the exchange rate of April 26).
The European Union (EU) announced a financial contribution of $6.5 mn to support agricultural reforms in Uzbekistan. On April 25, the EU confirmed the provision of the funds, amounting to nearly UZS 82 bn ($6.5 mn), recognizing Uzbekistan's progress in agricultural reforms and its stable macroeconomic environment.
With its wheat reserves continuing to decline, Egypt’s wheat imports in marketing year 2024-25 are forecast to increase by 2% over the previous year due to population growth and the availability of more foreign currency in Egyptian banks, according to a report from the Foreign Agricultural Service (FAS) of the US Department of Agriculture.
The International Monetary Fund expects OPEC and its partners to start increasing oil production gradually from July, a transition that’s set to catapult Saudi Arabia back into the ranks of the world’s fastest-growing economies next year.
Rice export prices decreased 1-3 percent as the Thai baht weakened.
A tale of two is emerging for wheat and barley growers in Australia.
The latest set of grain export inspection data from USDA, out Monday morning and covering the week through April 25, held mostly lackluster and rangebound numbers for traders to digest. Corn led the way again, staying on the higher end of analyst estimates but sliding moderately below the prior week’s tally.
Governments’ support for inputs and rice production have lifted area harvested and yields, boosting production across much of the region.
In the south, long and medium grain milled rice steady. Parboiled prices steady. Second heads and Brewers steady. Rice by-products: Rice Bran, Millfeed and Rice Hulls mostly steady. In California, medium grain milled rice steady to weak. Second heads and Brewers mostly steady. Rice by-products: Rice Bran and rice hulls steady.
Outstanding export sales and exports by country, region and marketing year
FAS/Cairo (Post) forecasts Egypt’s wheat imports in marketing year (MY) 2024/25 to increase by 2 percent from the previous marketing year, due to population growth and the availability of more foreign currency in Egyptian banks.
Arkansas’ rice crop rebounded in terms of acres in 2023, with farmers adding 327,000 more acres than they planted in 2022. The U.S. Department of Agriculture (USDA) reported that the 1.41 million acres harvested in the state last year was roughly half the rice grown in the country.
Faced with escalating Chinese demand for Brazilian grains, US farmers are struggling with soggy prices for agricultural products.
The other thing that happened over the weekend, was that the US House of Representatives finally agreed to a huge (US$60B) assistance package to Ukraine. That assistance will come in the form of armour, air defence systems and other munitions. It comes at a time when Russia appeared to be gaining some ascendancy and any delay in the funding was seen as assisting Russia.
U.S. soybean exports to China, which have been declining for several years as Brazil builds its dominance in the world's biggest oilseed market, face a further threat in 2024 as bumper supply from Argentina heightens competition.
Six years ago, Illinois farmer John Ackerman didn't hire any contract workers at all. Now he typically hires about 22 every year through a local coordinator that helps farmers hire crews of agriculturally skilled, often Latino workers. Those teams hand-weed the soybeans Ackerman grows alongside the pumpkin and corn crops he uses for his primarily fall-focused agrotourism outfit.
Federal policymakers and their Big Ag friends have a problem: Their hope to make corn and soybeans the feedstock for sustainable aviation fuel hit a wall when the aviation industry ruled that biofuel from either crop did not meet its “sustainable” guidelines. As such, there would be no corn- or soy-based SAF.
The U.S. Department of Agriculture expects to roll out an upgraded system for its weekly export sales reporting program in late 2025. Exporters are required by law to report sales of U.S. agricultural commodities to the USDA’s Foreign Agricultural Service (FAS), which reports weekly export sales each Thursday.
Wheat futures climbed Tuesday, Chicago soft red winter wheat surging to a two-month high as a decline in US winter wheat conditions renewed focus on weather risks to Northern Hemisphere crops. Corn and soybeans also edged up slightly on US spring planting risks. Corn planting progress was slightly better than expected but heavy rain was forecast in key areas.
Who wants to pay 41 percent more for food? No one. Yet a newly enacted California law is wrecking just that kind of havoc on citizens in the state — and it threatens to cause food prices to rise dramatically nationwide. Congress must act in this year’s Farm Bill to protect farmers and consumers.
Grain traders and ingredient buyers were heading into the 2024 season with uncertainty amid questions about the corn, soybean, spring wheat and total planted area projected in the US Department of Agriculture’s (USDA) March 28 Prospective Plantings report. Many expect significant changes to be reflected in the June 28 Acreage report, depending on spring planting weather…
Russia has dramatically increased its grain exports to China, significantly undercutting Australia's longstanding dominance in the sector. This development follows a series of economic sanctions imposed by Australia on Russia, which seems to have responded with a commercial counterblow that reshapes trade dynamics in the Asia-Pacific region.
Small-farm owners around the globe, in fact, are feeling that same sense of helplessness. From Germany and Spain to India and Canada, farmers are rising up to protest not only burdensome new environmental regulations but also the impact of corporate mega-farms and cheap food imports, which have caused their costs to rise and their profits to fall dramatically.
There is an old saying in trading that “bull markets have long tails.” Meaning, after prices peak, they gradually move lower over an extended period. This may be especially true in commodities, where high prices tend to cure high prices through lower demand and increased production. In 2020, the corn market began a rally predicated on improving demand and tightening world inventories.
Since the World Health Organization declared a global pandemic in early 2020, businesses big and small have faced significant challenges. Though the pandemic has ended, many sectors — including the agricultural industry — still are facing challenges both familiar and unfamiliar. The agricultural sector is crucial to the survival and health of billions of people across the globe.
Prices of white rice have dropped to $602 a tonne for shipments from Thailand and for consignments from Pakistan and Vietnam they are down to $575-585 a tonne | Photo Credit: antpkr Rice prices in the global market have currently dropped to levels of $600/tonne and below but they will likely gain around June-July when a clear picture emerges on production and monsoon behaviour in Asia.
The World Bank's April 2024 Commodity Outlook Report projects a significant decline in global food prices for 2024, with a forecasted 6% drop, followed by an additional 4% decrease in 2025. This anticipated decrease is primarily attributed to lower prices for grains, oils, and meals, while other food categories are expected to experience price gains in 2024.
The U.S. Agriculture Department's Commodity Credit Corporation announced the following world market prices of milled and rough rice. The data is adjusted for U.S. milling yields and location, and the resulting marketing loan gain (MLG) and loan deficiency payment (LDP) rates applicable to the 2023 crop.
Rising food prices around the world may finally be seeing a bottom this year. According to Oxford Economics, global food prices are expected to decline in 2024, offering some relief for shoppers. “Our baseline forecast is for world food commodity prices to register an annual decline this year, reducing pressure on food retail prices further downstream,”…
The Biden administration will allocate $1 billion in Commodity Credit Corporation funding for emergency international food assistance. Approximately $950 million of that will be used purchase, ship and distribute American-made wheat, rice, sorghum, lentils, chickpeas, dry peas, vegetable oil, cornmeal, navy beans, pinto beans and kidney beans.
The Economic Research Service (ERS) of the US Department of Agriculture said in its Rice Outlook Report on April 15 that “over the past month, quotes for trading prices for most grades of regular (neither parboiled nor aromatic) whole grain milled rice from Thailand decreased 6% to 7%, mostly due to the weakening of the Thai baht and the beginning of the dry-season crop entering the export market.”
‘Ending world hunger, achieving food security and improved nutrition, and promoting sustainable agriculture’ is the United Nations’ number two goal. And it’s one that a company based at Norwich Research Park is confident it can help to solve by growing rice on the surface of the ocean.
The federal government has signed a memorandum of understanding (MoU) with Japan on the enhancement of the rice seeds production system and diagnostic capacity in Nigeria.
Nelson woman Yuki Fukuda has grown rice in her garden, and is now helping others to do the same. The kilo of grain her small plot yielded this summer was the first successful rice crop she knew of in Whakatū/ Nelson, and possibly Te Waipounamu/ the South Island too, the ecologist said.
While some might think that family-run farms are a thing of the past, they are in fact the dominant business model in Europe. In 2020, they accounted for slightly more than 9 in every 10 of the EU's 9.1 million farms.
Rice (Oryza sativa L.) is an important member of the family Poaceae and more than half of world population depend for their dietary nutrition on rice. Rice cultivars with higher yield, resilience to stress and wider adaptability are essential to ensure production stability and food security.
New research published in Nature Communications sheds light on how traditional farming practices might influence cultural traits, suggesting that rice farming encourages more collectivistic behavior compared to wheat farming.
Agriculture Minister Dr Md Abdus Shahid today laid emphasis on increasing high-yielding rice cultivation across the country to boost rice production aiming to export the staple food after meeting domestic demand.
There are many myths about energy and the economy. In this post I explore the situation surrounding some of these myths. My analysis strongly suggests that the transition to a new Green Economy is not progressing as well as hoped. Green energy planners have missed the point that our physics-based economy favors low-cost producers.
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.
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).
Executive Summary
The TRT will not be published next week on TRT Team Travel & Planning. Our next publication date will be May 12, 2024.
The market is in the midst of a struggle between the India’s export ban, which our intelligence says will very likely last into 2025, and yet weekly export numbers over 300 TMT that indicate the ban is only having a limiting effect. China being out of the market and even exporting is a stealth factor that is not really being recognized, while the massive decrease in the global grain prices on high stocks is an underlying factor pulling on rice prices.
Thought of the week
The First Steps...
“A journey of a thousand miles must begin with a single step.”
-- Lao Tzu --