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International rice prices strengthened during the spring of 2018 in response to increasing import demand in Southeast Asia, but the impact was short-lived and export prices subsided sharply since then. Asian rice remains very competitive relative to Western Hemisphere origins (e.g., U.S. and Mercosur), with the gap between Thai and U.S. 5% long-grain rice estimated at $100 per metric ton (mt) at the end of 2018. Over the next decade, the average global rice price is projected to increase steadily at 1.35% annually, as net global trade grows at 1.56% and global stocks become relatively tighter over the same period. Thailand and India maintain their dominant role in global trade as the top rice exporters, followed by Vietnam, Pakistan, Myanmar, and the U.S. The People's Republic of China (PRC) and Nigeria remain the major global rice importers. The growth in global trade over the next decade is accounted for by expansion in export shipments from Thailand, India, Vietnam, Cambodia, U.S. and Myanmar; and strong import demand from countries in Western Africa and the Middle East. Most of the 0.43% annual compounded growth in global rice production comes from yield improvements, as harvested area remains relatively stagnant. However, the growth in consumption is expected to outpace the growth in production, causing global stocks to decline annually by 0.70% over the baseline period. Population remains the primary driver of the 0.80% annual average growth in global rice consumption as average per capita use declines at 0.26% annually. Lastly, stochastic estimates of selected variables are included in this report to provide a better understanding of the probable distribution of future outcomes. [ABSTRACT FROM AUTHOR]