ASEAN: Paddy Rice Market 2024

Paddy Rice Market Size in ASEAN

The ASEAN paddy rice market dropped to $X in 2022, stabilizing at the previous year. Overall, consumption, however, continues to indicate a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2019 to 2022, the growth of the market failed to regain momentum.

Paddy Rice Production in ASEAN

In value terms, paddy rice production contracted to $X in 2022 estimated in export price. In general, production, however, continues to indicate strong growth. The pace of growth appeared the most rapid in 2016 when the production volume increased by X% against the previous year. The level of production peaked at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

The countries with the highest volumes of production in 2022 were Indonesia (X tons), Vietnam (X tons) and Thailand (X tons), with a combined X% share of total production. Myanmar, the Philippines, Cambodia and Lao People's Democratic Republic lagged somewhat behind, together comprising a further X%.

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

In 2022, the average yield of paddy rice in ASEAN contracted modestly to X tons per ha, approximately reflecting 2021 figures. Overall, the yield, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when the yield increased by X% against the previous year. The level of yield peaked at X tons per ha in 2015; afterwards, it flattened through to 2022. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, approx. X ha of paddy rice were harvested in ASEAN; approximately reflecting 2021 figures. Over the period under review, the harvested area saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. The level of harvested area peaked at X ha in 2012; however, from 2013 to 2022, the harvested area stood at a somewhat lower figure.

Paddy Rice Exports

Exports in ASEAN

After two years of growth, shipments abroad of paddy rice decreased by X% to X tons in 2022. Over the period under review, exports, however, enjoyed strong growth. The most prominent rate of growth was recorded in 2021 when exports increased by X%. As a result, the exports attained the peak of X tons, and then declined in the following year.

In value terms, paddy rice exports reduced rapidly to $X in 2022. Overall, exports, however, saw temperate growth. The pace of growth appeared the most rapid in 2021 with an increase of X%. Over the period under review, the exports reached the maximum at $X in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

Exports by Country

In 2022, Myanmar (X tons) was the major exporter of paddy rice, making up X% of total exports. It was distantly followed by Lao People's Democratic Republic (X tons), achieving a X% share of total exports. Vietnam (X tons) took a minor share of total exports.

Myanmar was also the fastest-growing in terms of the paddy rice exports, with a CAGR of X% from 2012 to 2022. Lao People's Democratic Republic experienced a relatively flat trend pattern. Vietnam (X%) illustrated a downward trend over the same period. While the share of Myanmar (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Vietnam (X p.p.) and Lao People's Democratic Republic (X p.p.) displayed negative dynamics.

In value terms, the largest paddy rice supplying countries in ASEAN were Myanmar ($X), Lao People's Democratic Republic ($X) and Vietnam ($X), with a combined X% share of total exports.

Myanmar, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced a decline in the exports figures.

Export Prices by Country

The export price in ASEAN stood at $X per ton in 2022, dropping by X% against the previous year. In general, the export price showed a pronounced slump. The pace of growth appeared the most rapid in 2013 when the export price increased by X% against the previous year. Over the period under review, the export prices attained the peak figure at $X per ton in 2018; however, from 2019 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Vietnam ($X per ton), while Myanmar ($X per ton) was amongst the lowest.

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

Paddy Rice Imports

Imports in ASEAN

In 2022, supplies from abroad of paddy rice decreased by X% to X tons for the first time since 2018, thus ending a three-year rising trend. Overall, imports, however, recorded significant growth. The most prominent rate of growth was recorded in 2021 when imports increased by X% against the previous year. As a result, imports attained the peak of X tons, and then declined sharply in the following year.

In value terms, paddy rice imports contracted slightly to $X in 2022. Over the period under review, imports, however, recorded a resilient expansion. The most prominent rate of growth was recorded in 2020 when imports increased by X% against the previous year. Over the period under review, imports attained the peak figure at $X in 2021, and then shrank slightly in the following year.

Imports by Country

Vietnam was the key importer of paddy rice in ASEAN, with the volume of imports reaching X tons, which was approx. X% of total imports in 2022. It was distantly followed by the Philippines (X tons), making up a X% share of total imports.

From 2012 to 2022, average annual rates of growth with regard to paddy rice imports into Vietnam stood at X%. At the same time, the Philippines (X%) displayed positive paces of growth. Moreover, the Philippines emerged as the fastest-growing importer imported in ASEAN, with a CAGR of X% from 2012-2022. While the share of Vietnam (X p.p.) and the Philippines (X p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Vietnam ($X) constitutes the largest market for imported paddy rice in ASEAN, comprising X% of total imports. The second position in the ranking was taken by the Philippines ($X), with a X% share of total imports.

From 2012 to 2022, the average annual growth rate of value in Vietnam stood at X%.

Import Prices by Country

The import price in ASEAN stood at $X per ton in 2022, rising by X% against the previous year. In general, the import price, however, continues to indicate a perceptible decline. The pace of growth appeared the most rapid in 2015 when the import price increased by X%. As a result, import price reached the peak level of $X per ton. From 2016 to 2022, the import prices remained at a lower figure.

Average prices varied noticeably amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was the Philippines ($X per ton), while Vietnam totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (X%).

Source: IndexBox Platform

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