Australia Hopeful Of a Better Crop After Recent Rains

Recent rains in parts of Australia and neighboring New Zealand have fueling optimism in the rice industry for a rebound in production this season. Australia will sow its next rice crop from about September, for harvest starting April.

Australian farmers last year planted the smallest area to rice since the early 1920s as the nation's worst drought on record cut the amount of water available for irrigation. Rice prices more than doubled in a year to a record; as exporters curb shipments and importing nations struggle to secure supplies.