Asia-Pacific: Rice Market 2024

Rice Market Size in Asia-Pacific

The Asia-Pacific rice market fell modestly to $X in 2022, flattening at the previous year. Over the period under review, consumption showed a noticeable decline. As a result, consumption reached the peak level of $X. From 2015 to 2022, the growth of the market remained at a lower figure.

Rice Production in Asia-Pacific

In value terms, rice production fell to $X in 2022 estimated in export price. Over the period under review, production recorded a noticeable slump. 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), together accounting for X% of total production.

From 2012 to 2022, the most notable rate of growth in terms of production, amongst the key producing countries, was attained by India (with a CAGR of X%), while production for the other leaders experienced more modest paces of growth.

In 2022, the average rice yield in Asia-Pacific declined slightly to X tons per ha, remaining relatively unchanged against the year before. Overall, the yield, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 with an increase of X%. Over the period under review, the rice yield attained the maximum level at X tons per ha in 2021, and then dropped 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, approx. X ha of rice were harvested in Asia-Pacific; remaining relatively unchanged against 2021. In general, the harvested area, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 with an increase of X% against the previous year. Over the period under review, the harvested area dedicated to rice production attained the peak figure at X ha in 2013; however, from 2014 to 2022, the harvested area failed to regain momentum.

Rice Exports

Exports in Asia-Pacific

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% 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%. The volume of export peaked in 2022 and is expected to retain growth in years to come.

In value terms, rice exports totaled $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 throughout the analyzed period. The most prominent rate of growth was recorded in 2017 when exports increased by X% against the previous year. Over the period under review, the exports reached the peak figure in 2022 and are expected to retain growth in the near future.

Exports by Country

In 2022, India (X tons) represented the key exporter of rice, creating X% of total exports. It was distantly followed by Thailand (X tons), Vietnam (X tons), Pakistan (X tons), China (X tons) and Myanmar (X tons), together making up a X% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to rice exports from India stood at X%. 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-Pacific, with a CAGR of X% from 2012-2022. By contrast, Vietnam (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 total exports, while Thailand and Vietnam saw its share reduced by 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 ($X) remains the largest rice supplier in Asia-Pacific, comprising X% of total exports. The second position in the ranking was held by Thailand ($X), with a X% share of total exports. It was followed by Vietnam, with a X% share.

In India, rice exports 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: Thailand (X% per year) and Vietnam (X% per year).

Export Prices by Country

In 2022, the export price in Asia-Pacific amounted to $X per ton, approximately mirroring the previous year. Over the period under review, the export price, however, recorded a mild reduction. The growth pace was the most rapid in 2018 an increase of X% against the previous year. The level of export peaked at $X per ton in 2013; however, from 2014 to 2022, the export prices failed to regain momentum.

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-Pacific

Rice imports expanded to X tons in 2022, surging by X% compared with the year before. Total imports indicated a tangible expansion from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2020 indices. The pace of growth was the most pronounced in 2021 when imports increased by X%. The volume of import peaked in 2022 and is expected to retain growth in the near future.

In value terms, rice imports expanded remarkably to $X in 2022. Total imports indicated noticeable growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2013 indices. The pace of growth was the most pronounced in 2021 when imports increased by X%. Over the period under review, imports attained the peak figure in 2022 and are likely to continue growth in years to come.

Imports by Country

China was the major importer of rice in Asia-Pacific, with the volume of imports accounting for X tons, which was near X% of total imports in 2022. It was distantly followed by Malaysia (X tons), the Philippines (X tons), Bangladesh (X tons), Vietnam (X tons), Nepal (X tons) and Sri Lanka (X tons), together constituting a X% share of total imports. Japan (X tons), Afghanistan (X tons), South Korea (X tons), Indonesia (X tons), Papua New Guinea (X tons) and Singapore (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to rice imports into China stood at X%. At the same time, Sri Lanka (X%), Vietnam (X%), Papua New Guinea (X%), Nepal (X%), Afghanistan (X%), South Korea (X%), the Philippines (X%) and Malaysia (X%) displayed positive paces of growth. Moreover, Sri Lanka emerged as the fastest-growing importer imported in Asia-Pacific, with a CAGR of X% from 2012-2022. Japan and Singapore experienced a relatively flat trend pattern. By contrast, Bangladesh (X%) and Indonesia (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of China, Vietnam, Sri Lanka and Nepal increased by X, X, X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

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

In China, rice imports expanded at an average annual rate of X% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: the Philippines (X% per year) and Vietnam (X% per year).

Import Prices by Country

The import price in Asia-Pacific stood at $X per ton in 2022, growing by X% against the previous year. In general, the import price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 an increase of X%. The level of import peaked at $X per ton in 2013; however, from 2014 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was the Philippines ($X per ton), while Afghanistan ($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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