ITC: Global rice industry rife with government support, import restrictions

The global rice industry, supplying a key food security crop for many countries, is a frequent target of government intervention in the form of subsidies and import restrictions that can distort the market, the U.S. International Trade Commission said in a new report, although its conclusions on the competitiveness of the U.S. industry are mixed. The ITC report was requested by House Ways & Means Committee Chair Jason Smith (R-MO) in February 2024 and released on Friday. Smith, in a...