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Iraq resumes purchases of U.S. rice

An international trade policy director with USA Rice says the fourth largest market for U.S. rice can now resume its purchases of the commodity.

Karah Janevicius says “it’s a win-win for farmers, millers, merchants and the rest of the supply chain.”

Since 2021, USA rice and Al Awees, the entity purchasing U.S. rice on behalf of the government in Iraq, have had a memorandum of understanding calling for annual purchases of 200,000 metric tons of U.S. rice.

Janevicius says in March, Al Awees had to temporarily suspend the MOU, because the U.S. government restricted the use of the U.S. dollar by Iraqi banks. But that’s been recently resolved…

“For the last few months, my colleagues and I have tried to spearhead discussions with the U.S. government to help find solutions to facilitate this trade again.”

ADM Rice has a vessel that will send rice to Iraq this fall. Read more.