Emma Alsop 

ASX-LISTED SunRice has reaffirmed its commitment to Australia’s rice industry while pursuing expansion of commercial production overseas, its annual general meeting was told last week.

The AGM comes days after ABARES forecast national rice production would fall 22 percent to 139,000 tonnes in 2026-27, making it the fifth-smallest crop on record.

However, it revealed no further details about a potential financial package from the Federal Government, believed to be imminent and aimed at saving 78 jobs in the Riverina operations.

In its 2026 financial year ended April 30, SunRice filled 1.5 million tonnes of rice demand with 511,000t coming from Australian supplies.

The agribusiness sources rice from countries including Vietnam, the US, India, Italy, Pakistan, Taiwan, China, Cambodia, Argentina, Thailand, and Uruguay.

The company has also recently harvested its first commercial crop in South America.

SunRice Group chief executive officer and managing director Paul Serra said this strategic move meant the company could now “grow and source across every major growing region in the world”.

“We are confident we can source the rice that we need to have continuity of supply to all of our brands and markets around the world,” Mr Serra said.

SunRice Group chair John Bradford said the company had a “global mindset”, both in the markets it was expanding into, and rice sourcing.

“We’re expanding into markets where our rice styles play most strongly,” Mr Bradford said.

“As well as Australia, these are markets like the Middle East, and the United States – markets we know well, where we have the brands to cut through and the customer relationships to drive success.

“This global mindset also extends to diversifying where we source from and…by diversifying, we are accessing the rice we need to help support our growth and supply our customers what they need at a time when changing policies are impacting how much can be grown here in Australia.”

Riverina operations update

Mr Bradford noted high water prices and the recovery of about 2100GL from the Murray-Darling Basin since 2012, which he said “have reduced the water available to support productive agriculture, regional jobs and the long-term strength of Riverina communities”.

“Against this backdrop, we recently made some extremely difficult decisions to make changes to our operations in the Riverina, including changes to shift structures at Deniliquin, some of our AGS sites, and at our mill here in Leeton.

“Since making those decisions, we’ve seen some unexpected rain in the Riverina, which we know has motivated more growers to allocate paddocks for the upcoming season.”

Mr Serra said the decision to cut 78 jobs and redeploy a further 14 staff was “difficult”, but necessary.

“The changes are necessary to better align our operations with current and forecast rice supply levels, and to ensure our milling operations remain viable for the future.

“They also reflect a broader reality.

“When rice production goes down, the impacts are felt well beyond the farm gate.

“We will continue advocating constructively to the highest levels of government for more balanced policy settings that better support the long-term viability of the Australian rice industry, regional jobs and the communities that rely on them.

“This includes targeted support under the Sustainable Communities Program.”

Murray-Darling advocacy

Mr Bradford said SunRice was working with the Ricegrowers’ Association of Australia to “to encourage the government to increase water availability and shift the next 10 years of the Basin Plan from recovery to better water management, including through improved use of environmental water already held by government”.

“We welcome the constructive engagement to date with the Australian Government and the local member, and we are encouraged that the government is considering financial assistance for rice cake manufacturing here in Leeton.”

Mr Serra said that, with water recovered by the Commonwealth Water Holder reaching strong levels, the company was advocating for some of that supply to be made available to agriculture where possible.

“We’re continuing to advocate for government here to look at different ways in which they can utilise the water that they have.

“First and foremost, that would be the Commonwealth Water Holder, looking to potentially monetise more of their resource over time.

“Also, just timely allocations, given we are amidst the preseason decision making, so we continue to advocate on that front.”

Local rice strategy

Mr Serra said a key element of the company’s 2030 Growth Strategy related to “helping to support the long-term viability of the Australian rice industry”.

“Australian rice remains an important part of our future.

“While we have continued to grow and diversify the business, Australian rice remains a key point of difference for the group and an important part of what makes SunRice unique.

“We remain committed to creating value from Australian rice by building demand in premium markets, investing in our brands and leveraging the reputation that Australian rice has earned across generations around the world.

“We also recognise that a strong and viable Australian rice industry depends on the right policy settings.

“[W]e continue to advocate, alongside the Ricegrowers’ Association of Australia, for a more balanced and pragmatic water policy, one that recognises the long-term viability of irrigation industries and regional communities.”

Published Date: September 7, 2026