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U.S. 2024/25 Rice Production Estimate Raised 2.3 Million Hundredweight to 222.1 Million
There are several revisions this month to the 2024/25 U.S. rice balance sheet. On the supply side, carryin is raised 0.5 million hundredweight (cwt) to 39.8 million, with medium- and short-grain rice accounting for all of the increase. The upward revision is based on data reported in the USDA, National Agricultural Statistics Service (NASS) December Rice Stocks. Production is raised 2.3 million cwt to 222.1 million, primarily due to a higher yield. The revision is based on data reported in the USDA, NASS Crop Production 2024 Summary. On the 2024/25 use side, total domestic and residual use is raised 6.0 million cwt to a record 165.0 million, largely based on record implied use for August‒November as indicated by the USDA, NASS December 1 stocks. These supply and use revisions result in a 3.2-million-cwt reduction in the 2024/25 ending stocks forecast to 43.5 million cwt, still 9 percent above a year earlier.