The Associated Press | April 9, 2003
A drop of nearly 10 percent in Arkansas acreage planted in rice is one expected result of last year's low prices, though that could change if prices rise significantly.
As of last week, only 2 percent of the state's rice acreage had been planted, according to Chuck Wilson, of the University of Arkansas Cooperative Extension Service.
The U.S. Department of Agriculture projects rice acreage planted in Arkansas this year to total 1,220,000 acres, compared with 1,350,000 acres in 2002.
Export sales in recent weeks resulted in some increase in rice prices, but some farmers starting to plant rice say the increase wasn't enough to make them change their plans.
"It hasn't improved that much," said Richard Hildebrand, who said he plans to cut his rice acreage by 10 percent, down to about 800 acres. He farms near Stuttgart.
But Bill Reed, a spokesman for Riceland Foods Inc. in Stuttgart, a cooperative with thousands of farmer-members, said the USDA projection of the acreage to be planted in rice was made in early March.
"A lot of things have changed, including rice prices," Reed said. "We'd be surprised if those acres did not change some."
On March 5, the futures price for November - when this year's crop would enter the market - was $5.77 for a hundred pounds. On Tuesday, it closed at $6.60 on the Chicago Board of Trade.The Associated Press:
