Iraq has reporteldy made its first-ever purchase of US rice under the US–Iraq Memorandum of Understanding (MOU).
According to the USA Rice Federation, this sale will help American rice exporters gain a foothold in the Iraqi market, and help prospects for new sales in the future.
Iraq’s precedent-setting purchase of 30,000 MT of US long grain milled rice comes after more than 16 months without any Iraqi purchases of U.S. rice.
“We are very pleased to see that Iraq has stepped up to meet its commitment to purchase U.S. rice under this agreement,” said USA Rice President & CEO Betsy Ward. “This could not have come at a better time for the U.S. rice industry, and we are grateful for the cooperation of the Iraqi Grain Board (IGB) and the Ministry of Trade (MOT).”
The 30,000 MT sale for July delivery was awarded to Archer Daniels Midland (ADM), and comes almost a full year since the MOU was negotiated between the MOT and the U.S. Embassy in Baghdad.
Hugh Maginnis, USA Rice vice president international, said
“The USA Rice team, including our local office in Iraq, worked hand-in-glove with Congress, the State Department, and USDA over the last year to keep the pressure on, ensuring that Iraq follows through on its commitment to purchase competitively-priced U.S. grown rice under this MOU.
“We appreciate the teamwork and persistence of so many people who contributed to this successful sale. This gives our rice farmers a very welcome shot in the arm.”
(Source: USA Rice Federation)