American rice farmers bank on exports to China

Global Business

American rice farmers bank on exports to China

U.S. farmers finally have a grain of hope. That’s after China agreed to open up its market to American rice.

CGTN’s Nitza Soledad Perez reports.

It’s rice harvest time in Texas Ray Stoesser and his two sons have reasons to celebrate. The world’s largest rice market, China, is about to open to U.S. farmers.This is a four generation business for the Stoesser family.

They are trying to keep afloat in a struggling industry.

Rice prices have been on the decline because of competition from big producers like Thailand and Vietnam.

Also agricultural innovation has increased productivity, creating a rice surplus.But the future is looking brighter for U.S. rice farmers.

China produces 20 times more rice than the U.S., but it’s also its biggest consumer. With a demand of more than 140 million metric tons last year, China has increasingly relied on imports to meet domestic consumption.

The Chinese market will open up to these farmers after Chinese officials complete an inspection and approval of U.S. facilities. And if all goes as planned, American rice will soon be served at Chinese tables