Rice is a grain that is cultivated on every continent except Antarctica and is the primary food for half the people in the world. Rice cultivation probably originated as early as 10,000 BC in Asia. Rice is grown at varying altitudes (sea level to about 3,000 meters), in varying climates (tropical to temperate), and on dry to flooded land. The growth duration of rice plants is 3-6 months, depending on variety and growing conditions. Rice is harvested by hand in developing countries or by combines in industrialized countries. Asian countries produce about 90% of rice grown worldwide. Rough rice futures and options are traded on the Chicago Board of Trade (CBOT).

Prices – Rough rice prices on the CBOT nearest futures chart showed weakness in early 2010 and fell to a 4-year low of $9.36 per hundred pounds in June 2010. However, rice prices then staged a recovery rally through the remainder of 2010 to close the year down only 4% at $13.995 per hundred pounds.

Regarding cash prices, the average monthly price of rice received by farmers in the U.S. in the first six months of the 2010-11 marketing year (i.e., August 2010 through July 2011) fell by 14.8% yr/yr to $11.92 per hundred pounds (cwt.).

Supply – World rice production in the 2010-11 marketing year rose +2.4% to 676.259 million metric tons, which is a new record high. The world’s largest rice producers were China with 29.4% of world production in 2010-11, India with 21.0%, Indonesia with 8.7%, Bangladesh with 7.2%, Vietnam with 5.9%, and Thailand with 4.6%. U.S. production of rice in 2010-11 rose +10.6% yr/yr to 243.104 million cwt (hundred pounds), a new record high.

Demand – World utilization of rice in 2010-11 rose +2.6% to a record high of 446.466 million metric tons. U.S. rice consumption in 2010-11 rose +5.2% yr/yr to 129.0 million cwt (hundred pounds), a new record high.

Trade – World exports of rice in 2010-11 fell -0.5% yr/yr to a new record high of 30.569 metric tons. The world’s largest rice exporters are Thailand with 32.7% of world exports, Vietnam with 19.6%, Pakistan with 8.7%, the U.S. with 11.7%, and India with 7.9%. U.S. rice imports in 2010-11 fell -5.3% yr/yr to 18.0 million cwt (hundred pounds), but still below the 2007-08 record high of 23.9 million cwt. U.S. rice exports in 2009-10 rose by +5.3% yr/yr to 116.0 million cwt.

Excerpted from the CRB Commodity Yearbook. For more information on CRB products click here

Related Links

World Production Calendar

Government Reports

[Report Descriptions]

Crop Production

Prospective Plantings

Crop Progress

Export Sales

Supply & Demand Estimates

Rice Stocks

World Production Maps

 Bangledesh
 Brazil
 China Double Crop
 China Single Crop
 Pakistan
 Spain
 United States
 India (Kharif Rice)
 India (Rabi Rice)
 Italy