US Rice Exports to Colombia Remain 'Uncertain,' USDA Says
For the first time, U.S. rice exporters didn’t fill Colombia’s tariff rate quota this past year, due to lower domestic prices in Colombia and increased competition from South American exporters, the U.S. Department of Agriculture Foreign Agricultural Service said Nov.…
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18. U.S. rice exports to Colombia have dropped to just $5 million worth from January through September, USDA said, which was “significantly lower” than past years. Not only did rice production reach record levels in Colombia this past year, but other countries recently obtained duty-free access to the market after signing free trade deals with Colombia, USDA said. The agency expects “large carryover stocks” of rice to continue to “dampen'' Colombia's import demand for U.S. rice. “Even though the current 2021/22 USDA forecast assumes that Colombian imports will pick up pace towards the end of the marketing year, prospects for U.S. sales this year remain highly uncertain,” USDA said.