WASDE Predicts Bump in Rice Production

Today’s World Agricultural Supply and Demand Estimates (WASDE) report predicts a 14 percent increase in United States (US) rice production from last year. Supplies, exports, domestic consumption, and ending stock forecasts are all up for the 2018/19 season. The heightened supply outlook at 263.5 million hundredweight (cwt) can be attributed to the anticipated bumper crop for long-grain rice this year. In fact, the forecast for long-grain rice exports is set at 72 million cwt, up 4 percent from last year. Medium- and short-grain rice exports are also up by 7 percent largely due to an Egyptian shortfall. Total rice ending stocks are up 18 percent from last year due to the production uptick in WASDE’s long-grain rice forecast. As a result of higher rice stocks and production, the $12.40 2018/19 average farm-gate price is projected down $0.20 from WASDE’s 2017/18 revised midpoint price. As farmers complete their rice plantings, Gro Intelligence can provide the necessary data and analytics to keep up with US rice production.