Market Outlook

See the latest Rice Outlook report.

U.S. 2023/24 Export Forecast Raised 2.0 Million
Hundredweight to 87.0 Million

The only supply-side revision this month to the U.S. 2023/24 rice balance sheet is a 1.0-million hundredweight (cwt) increase—all long-grain—in the import forecast to a record 43.0 million, up 8 percent from a year earlier. On the use side, 2023/24 all-rice exports are raised 2.0 million cwt to 87.0 million, up 35 percent from a year earlier. Long-grain rough rice accounted for all of the upward export revision. Total U.S. domestic and residual use remains forecast at a record 162.0 million cwt, up 12 percent from a year earlier. On balance, the larger exports forecast more than offset increased imports, resulting in a 1.0-million cwt reduction in the 2023/24 ending stocks forecast to 42.5 million cwt, still 41 percent above a year earlier.

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