On March 1, 2024, the US International Trade Commission (ITC) officially announced the initiation of a new factfinding investigation into the global rice market. The investigation, titled “Rice: Global Competitiveness and Impacts on Trade and the U.S. Industry” (Investigation No. 332-603), was requested by US House of Representatives Committee on Ways and Means Chair Jason Smith (Republican-Missouri).
The official notice on the initiation of the investigation, and the key dates for the hearing, deadlines for filing briefs and statements, and deadlines for other written submissions, are all laid out in the Commission’s Notice. The ITC will commence the investigation with a public hearing on April 30, 2024; stakeholders and experts may participate in the hearing by appearing or filing written submissions for the record. Requests to appear must be filed no later than 5:15 p.m. on April 8, 2024, and written submissions must be filed no later than 5:15 p.m. on July 12, 2024. Written submissions will be made public, except for confidential business information. The ITC website includes further details on how to participate in the hearing.
The investigation aims to examine the recent trends and developments shaping the rice market globally – including major producers like Bangladesh, Brazil, China, India, Indonesia, Pakistan, Paraguay, Thailand, Uruguay, and Vietnam – and could lay the groundwork for future trade actions impacting global rice trade. It will also contain updates to the ITC’s 2015 report, highlighting significant changes in the rice market from 2018 to 2023. The ITC estimates that it will submit its report to the Committee on Ways and Means by March 5, 2025.