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World price (rice):

As part of the rice marketing assistance loan program, USDA calculates the world price for each class of milled rice (long grain, medium grain, and short grain) based on the prevailing world market price for each of the classes, modified to reflect U.S. quality and the U.S. cost of exporting milled rice. USDA sets this prevailing market price after reviewing milled rice prices in major world markets, and taking into account the effects of supply-demand changes, government-assisted sales, and other relevant price indicators. The steps for calculating and announcing the world prices are prescribed in more detail in federal regulations.

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Information and definitions of the terms been taken from various reliable government publications and we have done our best to verify their accuracy. If you feel any of the definitions are incorrect or needs to be updated please contact us and we will look into it.

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