USDA reports big jump in rice supply
The USDA says the marketing year for rice started with a sharply higher supply.
On August 1st, 2021, U.S. rough rice stocks were 37.645 million hundredweight, an increase of 54% from August 1st, 2020, following an increase in production from 2019 to 2020. On-farm stocks were 4.874 million hundredweight, compared to 2.828 million the year before, and off-farm stocks were 32.771 million hundredweight, compared to 21.567 million last year.
The milled rice supply was 4.2222 million hundredweight, up 41% from the previous year.
The U.S. rice harvest is ongoing, with this year’s crop expected to be 197.36 million hundredweight, which would be 30.223 million less than last year. The USDA’s next production projection is out September 10th.