Global Rice Market 2024

Rice Market Size

The global rice market dropped to $X in 2022, almost unchanged from the previous year. Overall, consumption showed a slight slump. As a result, consumption reached the peak level of $X. From 2015 to 2022, the growth of the global market remained at a lower figure.

Rice Production

In value terms, rice production shrank to $X in 2022 estimated in export price. In general, production recorded a perceptible descent. The most prominent rate of growth was recorded in 2014 when the production volume increased by X%. As a result, production reached the peak level of $X. From 2015 to 2022, global production growth remained at a somewhat lower figure.

The countries with the highest volumes of production in 2022 were China (X tons), India (X tons) and Bangladesh (X tons), together accounting for X% of global production. Indonesia, Vietnam, Thailand, Myanmar, the Philippines and Pakistan lagged somewhat behind, together accounting for a further X%.

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

In 2022, the global average rice yield dropped to X tons per ha, flattening at 2021. Over the period under review, the yield, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 with an increase of X% against the previous year. The global yield peaked at X tons per ha in 2021, and then contracted slightly 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.

In 2022, the global harvested area of rice reduced to X ha, remaining constant against 2021 figures. Overall, the harvested area, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when the harvested area increased by X% against the previous year. The global harvested area peaked at X ha in 2021, and then shrank slightly in the following year.

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Rice Exports

Exports

In 2022, shipments abroad of rice increased by X% to X tons, rising for the third consecutive year 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 throughout the analyzed period. The pace of growth was the most pronounced in 2017 with an increase of X% against the previous year. The global exports peaked in 2022 and are likely to see gradual growth in the immediate term.

In value terms, rice exports amounted to $X in 2022. The total export value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2017 with an increase of X% against the previous year. The global exports peaked in 2022 and are likely to continue growth in years to come.

Exports by Country

In 2022, India (X tons) represented the key exporter of rice, making up X% of total exports. It was distantly followed by Thailand (X tons), Vietnam (X tons) and Pakistan (X tons), together constituting a X% share of total exports. The following exporters - the United States (X tons), China (X tons), Myanmar (X tons), Brazil (X tons) and Uruguay (X tons) - together made up X% 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%), Brazil (X%), Pakistan (X%) and Thailand (X%) displayed positive paces of growth. Moreover, China emerged as the fastest-growing exporter exported in the world, with a CAGR of X% from 2012-2022. Uruguay experienced a relatively flat trend pattern. By contrast, Vietnam (X%) and the United States (X%) illustrated a downward trend over the same period. India (X p.p.), China (X p.p.) and Myanmar (X p.p.) significantly strengthened its position in terms of the global exports, while Thailand, the United States and Vietnam 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, India ($X) remains the largest rice supplier worldwide, comprising X% of global exports. The second position in the ranking was held by Thailand ($X), with a X% share of global exports. It was followed by Vietnam, with an X% share.

From 2012 to 2022, the average annual growth rate of value in India stood at X%. 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 average rice export price amounted to $X per ton, flattening at the previous year. In general, the export price, however, showed a slight curtailment. The growth pace was the most rapid in 2018 an increase of X%. The global export price peaked at $X per ton in 2013; however, from 2014 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was the United States ($X per ton), while Myanmar ($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 United States (X%), while the other global leaders experienced mixed trends in the export price figures.

Rice Imports

Imports

For the third year in a row, the global market recorded growth in overseas purchases of rice, which increased by X% to X tons in 2022. The total import volume increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2017 with an increase of X% against the previous year. Global imports peaked in 2022 and are likely to see gradual growth in the near future.

In value terms, rice imports rose markedly 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%. Over the period under review, global imports attained the peak figure in 2022 and are likely to see gradual growth in years to come.

Imports by Country

In 2022, China (X tons), distantly followed by Mozambique (X tons), Benin (X tons), Cote d'Ivoire (X tons), Iraq (X tons), Senegal (X tons), the United States (X tons), Iran (X tons), Malaysia (X tons), the Philippines (X tons), Bangladesh (X tons), Niger (X tons) and Ghana (X tons) represented the key importers of rice, together generating X% of total imports. The following importers - Mozambique (X tons), Benin (X tons), Cote d'Ivoire (X tons), Iraq (X tons), Senegal (X tons), the United States (X tons), Iran (X tons), Malaysia (X tons), the Philippines (X tons), Bangladesh (X tons), Niger (X tons) and Ghana (X tons) - together made up X% of total imports.

From 2012 to 2022, average annual rates of growth with regard to rice imports into China stood at X%. At the same time, Mozambique (X%), Niger (X%), Benin (X%), the United States (X%), Senegal (X%), the Philippines (X%), Cote d'Ivoire (X%), Malaysia (X%), Ghana (X%) and Iraq (X%) displayed positive paces of growth. Moreover, Mozambique emerged as the fastest-growing importer imported in the world, with a CAGR of X% from 2012-2022. Iran experienced a relatively flat trend pattern. By contrast, Bangladesh (X%) illustrated a downward trend over the same period. China (X p.p.) and Mozambique (X p.p.) significantly strengthened its position in terms of the global imports, while Bangladesh saw its share reduced by X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

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

In China, rice imports increased 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 average rice import price stood at $X per ton in 2022, rising by X% against the previous year. Overall, the import price, however, showed a mild decrease. Over the period under review, average import prices attained the maximum at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was the Philippines ($X per ton), while Mozambique ($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 global leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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