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American Rice, Inc. history
American Rice, Inc. company history timeline
However, commercial production began only in 1912 in the town of Richvale in Butte County.
Californian varieties of rice were found suitable for the climate in the Riverina, and the first mill opened at Leeton in 1951.
American Rice, Inc. was founded as an agricultural cooperative by a group of Gulf Coast rice farmers in 1969.
In an effort to protect the interests of its members, however, the cooperative began selling unmilled rice to mills on behalf of its farmers in 1971.
1975: American Rice purchases Blue Ribbon rice mill in Houston and begins milling its own rice.
With more than 1,500 rice growers included in its ranks by 1980, the cooperative was a formidable operation.
Since 1980, three large conglomerates--The Quaker Oats Company, Unilever, and Archer Daniels Midland Company--had begun marketing rice.
Due to less expensive production costs, Thai producers could sell rice for about $100 per ton less than their United States counterparts. As a result of these factors, United States growers were 'taking a beating on world markets,' according to the April 20, 1986 edition of the Houston Chronicle.
1987: American Rice is incorporated.
CAM's initial goal was a lofty one&mdashø become the third largest supplier of dried rice to United States grocery stores by 1989.
Japan's 1993 rice crop was severely damaged by weather.
1993: American Rice and Comet merge; Erly acquires 80 percent stake in American Rice.
1994: American Rice forms Vinafood, a joint venture with a Vietnamese state-owned rice processor.
In 1997 the Powell Group, which owned 14.9 percent of ARI's stock, sued the Murphys for breach of fiduciary duty, waste of corporate assets, and illegal corporate loans.
1998: American Rice and Erly file for bankruptcy.
The earliest remains of cultivated rice in the sub-continent have been found in the north and west and date from around 2000 BC.
Early in 2000, Steven Weinred was appointed ARI's interim CEO and president.
In 2003, Korean archaeologists claimed to have discovered the world's oldest domesticated rice.
By 2006, California produced the second largest rice crop in the United States, after Arkansas, with production concentrated in six counties north of Sacramento.
In 2012, nearly half of world’s population – more than 3 billion people – relied on rice every day.
In 2017, exports were aided by the rapid pace of sales from old-crop rice auctions of government stocks.
In contrast, Thai exports are forecast at 10.2 million tons for 2018, down over 12 percent from last year.
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American Rice, Inc. may also be known as or be related to American Rice Inc and American Rice, Inc.