Asia: Rice Market 2024

Rice Market Size in Asia

The Asian rice market reduced slightly to $X in 2022, flattening at the previous year. In general, consumption recorded a mild decrease. As a result, consumption attained the peak level of $X. From 2015 to 2022, the growth of the market remained at a lower figure.

Rice Production in Asia

In value terms, rice production fell modestly to $X in 2022 estimated in export price. In general, production recorded a perceptible reduction. The most prominent rate of growth was recorded in 2014 when the production volume increased by X% against the previous year. As a result, production reached the peak level of $X. From 2015 to 2022, production growth failed to regain momentum.

The countries with the highest volumes of production in 2022 were China (X tons), India (X tons) and Bangladesh (X tons), with a combined X% share of total production.

From 2012 to 2022, the biggest increases were recorded for India (with a CAGR of X%), while production for the other leaders experienced more modest paces of growth.

In 2022, the average yield of rice in Asia reduced modestly to X tons per ha, standing approx. at the year before. Overall, the yield, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 when the yield increased by X%. Over the period under review, the rice yield attained the maximum level at X tons per ha in 2021, and then reduced in the following year. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

The rice harvested area dropped modestly to X ha in 2022, flattening at the previous year's figure. Over the period under review, the harvested area, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2020 when the harvested area increased by X%. The level of harvested area peaked at X ha in 2013; however, from 2014 to 2022, the harvested area stood at a somewhat lower figure.

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Rice Exports

Exports in Asia

In 2022, overseas shipments of rice increased by X% to X tons, rising for the third year in a row after two years of decline. The total export volume increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2017 with an increase of X%. The volume of export peaked in 2022 and is expected to retain growth in the near future.

In value terms, rice exports stood at $X in 2022. The total export value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2017 with an increase of X% against the previous year. Over the period under review, the exports attained the maximum in 2022 and are expected to retain growth in years to come.

Exports by Country

India represented the main exporting country with an export of around X tons, which resulted at X% of total exports. Thailand (X tons) took the second position in the ranking, followed by Vietnam (X tons), Pakistan (X tons), China (X tons) and Myanmar (X tons). All these countries together held approx. X% share of total exports.

Exports from India increased at an average annual rate of X% from 2012 to 2022. At the same time, China (X%), Myanmar (X%), Pakistan (X%) and Thailand (X%) displayed positive paces of growth. Moreover, China emerged as the fastest-growing exporter exported in Asia, with a CAGR of X% from 2012-2022. By contrast, Vietnam (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of India, China and Myanmar increased by X, X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X) remains the largest rice supplier in Asia, comprising X% of total exports. The second position in the ranking was held by Thailand ($X), with a X% share of total exports. It was followed by Vietnam, with a X% share.

In India, rice exports expanded at an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Thailand (X% per year) and Vietnam (X% per year).

Export Prices by Country

In 2022, the export price in Asia amounted to $X per ton, standing approx. at the previous year. Over the period under review, the export price, however, recorded a slight descent. The growth pace was the most rapid in 2018 when the export price increased by X% against the previous year. The level of export peaked at $X per ton in 2013; however, from 2014 to 2022, the export prices remained at a lower figure.

Average prices varied somewhat amongst the major exporting countries. In 2022, major exporting countries recorded the following prices: in Thailand ($X per ton) and Pakistan ($X per ton), while Myanmar ($X per ton) and China ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (X%), while the other leaders experienced a decline in the export price figures.

Rice Imports

Imports in Asia

In 2022, approx. X tons of rice were imported in Asia; standing approx. at the previous year's figure. The total import volume increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. Over the period under review, imports attained the peak figure in 2022 and are expected to retain growth in years to come.

In value terms, rice imports expanded notably to $X in 2022. The total import value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2017 when imports increased by X%. The level of import peaked in 2022 and is expected to retain growth in years to come.

Imports by Country

In 2022, China (X tons) represented the largest importer of rice, achieving X% of total imports. Iraq (X tons) ranks second in terms of the total imports with a X% share, followed by Iran (X%), Malaysia (X%), the Philippines (X%) and Bangladesh (X%). Vietnam (X tons), Nepal (X tons), Yemen (X tons), Sri Lanka (X tons), Kuwait (X tons), the United Arab Emirates (X tons) and Japan (X tons) took a relatively small share of total imports.

Imports into China increased at an average annual rate of X% from 2012 to 2022. At the same time, Sri Lanka (X%), Vietnam (X%), Kuwait (X%), Nepal (X%), Yemen (X%), the Philippines (X%), Malaysia (X%) and Iraq (X%) displayed positive paces of growth. Moreover, Sri Lanka emerged as the fastest-growing importer imported in Asia, with a CAGR of X% from 2012-2022. Japan and Iran experienced a relatively flat trend pattern. By contrast, Bangladesh (X%) and the United Arab Emirates (X%) illustrated a downward trend over the same period. China (X p.p.), Vietnam (X p.p.), Sri Lanka (X p.p.), Kuwait (X p.p.) and Nepal (X p.p.) significantly strengthened its position in terms of the total imports, while Iran, the United Arab Emirates and Bangladesh saw its share reduced by X%, X% and X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported rice in Asia, comprising X% of total imports. The second position in the ranking was taken by the Philippines ($X), with an X% share of total imports. It was followed by Iran, with an X% share.

In China, rice imports expanded at an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: the Philippines (X% per year) and Iran (X% per year).

Import Prices by Country

The import price in Asia stood at $X per ton in 2022, rising by X% against the previous year. In general, the import price, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 when the import price increased by X%. Over the period under review, import prices attained the peak figure at $X per ton in 2014; however, from 2015 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Kuwait ($X per ton), while Sri Lanka ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Philippines (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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