Please Wait.....
Report
Rice Trade Analysis - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2019 - 2029
Market Report I 2024-02-17 I 102 Pages I Mordor Intelligence
The Rice Market size is estimated at USD 306.38 billion in 2024, and is expected to reach USD 341.59 billion by 2029, growing at a CAGR of 2.20% during the forecast period (2024-2029).
Key Highlights
-Rice is a staple food for many parts of the world, especially in the east and southeast Asian countries; the significant rice producers are China, India, Indonesia, Bangladesh, etc. According to a report from the United States Department of Agriculture (USDA) for 2022, the world will produce 515.1 million metric tons of rice that year. This is 1.38% more than the previous year.
-According to reports from the USDA, rice production in 2021 was valued at 509.3 million metric tons. The major exporters of rice are Burma, India, Pakistan, and Vietnam. In the case of imports, the major importers are China, Europe, the Middle East, and the Philippines.
-For rice varieties like Japonica, the international rice trade has the largest market share.Further, international trade in glutinous rice has increased over the past three years. The rice import scenario is quite fragmented, with the top five importers accounting for approximately 36.7% of the global imports in 2021.
-India accounted for as much as 45 percent of global rice exports in 2021. Expanded port-handling capacity allowed the world's second-largest rice grower after China to ship record volumes to buyers across Africa and Asia. India is the world's biggest rice exporter, sending more rice annually than the three largest exporters, Thailand, Vietnam, and Pakistan. India's rice exports increased by almost 46% from 2020, reaching 21 million metric tons in 2021.
-Even though the United States only grows less than 2% of the world's rice, it is a major exporter and accounts for about 6% of the world's annual rice trade, which is a lot, according to a report from the USDA. In terms of consumption, China, India, and Bangladesh are the major consumers. From 2019 to 2021, the annual average consumption of China was 150.6 million metric tons, followed by India and Bangladesh with 104.2 million metric tons and 36.10 million metric tons, respectively.
-Sub-Saharan Africa is the largest importer of rice in the world. Its total imports are just a bit higher than those of Asia, which account for almost 31% of global imports. The Middle East is also an important import market. China, the Philippines, and Saudi Arabia are the biggest importers of rice. According to UN Comtrade data, China's rice imports will increase by 68% starting in 2020 and reach 4.9 million metric tons in 2021.
Rice Trade Analysis Market Trends
Favorable Trade Policies
Rice has a critical role in food security. Hence, it is politically sensitive and vulnerable to national government policy actions and private sector speculation almost worldwide. International rice trade policies can be characterized by importing and exporting countries.
While importing countries pursue market-stabilization policies, exporting countries pursue policies to promote rice exports. Subsidies, credit guarantees, state-controlled trading monopolies, bans or quotas on rice imports, etc., are among the many policy strategies that nations implement to isolate their domestic markets from external competition and boost exports. For instance, according to the United States Department of Agriculture (USDA), nearly 29.1% of the world's rice is produced in China, where it is a traditional staple food. As the top global importer and consumer, China imported 4.22 million metric tons of rice in 2021. China's high internal prices, resulting from its domestic support program, have been a critical driver of sustained imports, primarily from neighboring countries.
When China joined the World Trade Organization (WTO), it agreed to set a tariff-rate quota (TRQ) for rice of 5.32 million metric tons, which would be split evenly between long-grain rice and other rice.With the completion of the phytosanitary protocol and this agreement, the U.S. rice industry will now have more significant opportunities to export milled rice to China. The development of the rice sector as part of a more sustainable agricultural and food system also depends on the interests of the various countries in better coordinating national rice policies and implementing regional trade agreements. The governments of different countries set minimum support prices and provide input subsidies at the farm level, coupled with procurement, stocking, and distribution policies, which are driving the trade of rice globally.
Since most trade policies encourage exports and imports and the global demand for rice is going up, the rice market is likely to grow. According to UN Comtrade, the international trade value of rice will increase by 11.5% and reach USD 27.1 billion in 2021. India's export volume increased by 45% from 2020 to 21.2 million metric tons in 2021, and the export volume has been consistently growing yearly. The positive impact of the trade policies adopted by the countries and organizations is vivid in the global trade data, as these policies regulate the supply and the prices, especially when the demand is expected to skyrocket in the forecasted years, keeping the market stable and growing.
India Dominates the Market in Exports
With a wide variety of rice such as basmati, ponni, jaya, and so on, India is one of the top producers and consumers of rice, second only to China. It is also the top exporter of rice.According to the All India Rice Exporters Association (AIREA), Indian rice exports touched 21.2 million metric tons in 2021, including 16.6 million metric tons of non-Basmati rice. Rice being essential, no country imposed restrictions on its import. The overall production was ample enough to support exports of around 16 million metric tons of non-Basmati rice. Higher demand for Indian rice from North America and Europe, coupled with good climatic conditions, are supporting the growth of the market. Exports of the premium variety from India have an 85% share of the basmati export market. According to AIREA, major importers of basmati rice are from the Middle East; in 2021, Saudi Arabia imported 1.03 million metric tons, Iran imported 0.7 million metric tons, and Iraq imported 0.6 million metric tons, which constituted almost 50% of the total basmati exports from India.
AIREA says that exports of basmati rice grew by 4% in 2021, mostly because Saudi Arabia bought more of it. According to ITC data, India's exports increased by 45.6% in 2021, with increased demand from Asia accounting for nearly 29% of total exports.
Additional Benefits:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support
1 INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
5 MARKET SEGMENTATION
5.1 Geography (Import Analysis by Value and Volume, Export Analysis by Value and Volume)
5.1.1 North America
5.1.1.1 United States
5.1.1.2 Canada
5.1.2 Europe
5.1.2.1 France
5.1.2.2 United Kingdom
5.1.2.3 Germany
5.1.2.4 Italy
5.1.2.5 Spain
5.1.3 Asia-Pacific
5.1.3.1 China
5.1.3.2 India
5.1.3.3 Thailand
5.1.3.4 Vietnam
5.1.3.5 Pakistan
5.1.4 South America
5.1.4.1 Brazil
5.1.4.2 Argentina
5.1.5 Africa
5.1.5.1 South Africa
6 MARKET OPPORTUNITIES AND FUTURE TRENDS
- Not Sure / Need Reassuring
- Confirm Content
-
Content is provided by our partners and every effort is made to make Market Report details as clear as possible. If you are not sure the exact content you require is included in this study you can Contact us to double check. To do this you can:
Use the ‘? ASK A QUESTION’ below the license / prices and to the right of this box. This will come directly to our team who will work on dealing with your request as soon as possible.
Write to directly on support@scotts-international.com with details. Please include as much information as possible including the name of report or link so our staff will be able to work on you request.
Telephone us directly on 0048 603 394 346 and an experienced member of team will be on hand to answer.
-
- Sample Pages
-
With the vast majority of our partners we can obtain Sample Pages to support your decision. This is something we can arrange without revealing your personal details.
It is important to note that we will not be able to provide you the exact data or statistics such as Market Size and Forecasts. Sample pages usually confirm the layout or the Categories included in Charts and Graphs, excluding specific data.
To ask for Sample Pages by contact us through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346.
-
- Check for Alternatives
-
Whilst we try to make our online platform as easy to use as possible there is always the possibility that a better alternative has not been found in your search.
To avoid this possibility Contact us through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346 and a Senior Team Member can review your requirements and send a list of possibilities with opinions and recommendations.
-
- Confirm Content
- Prices / Formats / Delivery
- Prices
-
All prices are set by our partners and should be exactly the same as those listed on their own websites. We work on a Revenue share basis ensuring that you never pay more than what is offered elsewhere.
Should you find the price cheaper on another platform we recommend you to Contact us as we should be able to match this price. You can Contact us though through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346.
-
- Discounts
-
As we work in close partnership with our Partners from time to time we can secure discounts and assist with negotiations, this is part of our personalised service to you.
Discounts can sometimes be arranged for speedily placed orders; multiple report purchases or Higher License purchases.
To check if a Discount is possible please Contact our experienced team through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346.
-
- Available Currencies
-
Most Market Reports on our platform are listed in USD or EURO based on the wishes of our Partners. To avoid currency fluctuations and potential price differentiations we do not offer the possibility to change the currency online.
Should you wish to pay in a different currency to that advertised online we do accept payments in USD, EURO, GBP and PLN. The price will be calculated based on the relevant exchange rate taken from our National Bank.
To pay in a different above currency to that advertised online please Contact our team and a quotation will be sent within a couple of hours with payment details.
-
- Licenses
-
License options vary from Partner to Partner as is usually based on the number of Users that will benefitting from the report. It is very important that License ordered is not breached as this could have potential negative consequences for you individually or your employer.
If you have questions or need confirmation about the specific license we recommend you to Contact us and a detailed explanation will be provided.
-
- Global Site License
-
The Global Site License is the most comprehensive license available. By selecting this license, the Market Report can be shared with other ‘Allowed Users’ and any other member of staff from the same organisation regardless of geographic location.
It is important to note that this may exclude Parent Companies or Subsidiaries.
If you have questions or need confirmation about the specific license we recommend you to Contact us and a detailed explanation will be provided.
-
- Formats
-
The most common format is PDF, however in certain circumstances data may be present in Excel format or Online, especially in the case of Database or Directories. In addition, for certain higher license options a CD may also be provided.
If you have questions or need clarification about the specific formats we recommend you to Contact us and a detailed explanation will be provided.
-
- Delivery
-
Delivery is fulfilled by our partners directly. Once an order has been placed we inform the partner by sharing the delivery email details given in the order process.
Delivery is usually made within 24 hours of an order being placed, however it may take longer should your order be placed prior to the weekend or if otherwise specified on the Market Report details page. Additionally, if details have been not fully completed in the Order process a delay in delivery is possible.
If a delay in delivery is expected you will be informed about it immediately.
-
- Shipping Charges
-
As most Market Reports are delivered in PDF format we almost never have to add additional Shipping Charges. If, however you are ordering a Higher License service or a specific delivery format (e.g. CD version) charges may apply.
If you are concerned about additional Shipping Charges we recommend you to Contact us to double check.
-
- Prices
- Ordering
- By Credit Card
-
We work in Partnership with PayU to ensure payments are made securely in a fast and effortless way. PayU is the e-payments division of Naspers.
Naspers operates in over 133 International Markets and ranks 3rd Globally in terms of the number of e-commerce customers served.
For more information on PayU please visit: https://www.payu.pl/en/about-us
-
- By Money Transfer
-
If you require an invoice prior to payment, this is possible. To ensure a speedy delivery of the Market Report we require all relevant company details and you agree to maximum payment terms of 30 days from receipt of order.
With our regular clients deliver of the Market Report can be made prior to receiving payment, however in some circumstances we may ask for payment to be received before arranging for the Market Report to be delivered.
-
- By Credit Card
- Security
- Website security
-
We have specifically partnered with leading International companies to protect your privacy by using different technologies and processes to ensure security.
Everything submitted to Scotts International is encrypted via SSL (Secure Socket Layer) and all personal information provided to Scotts International is stored on computer systems with limited access in controlled environments.
-
- Credit Card Security
-
We partner with PayU (https://www.payu.pl/en/about-us) to ensure all credit card payments are made securely in a fast and effortless way.
PayU offers 250+ various payment channels and eWallet services across 4 continents allowing buyers to pay electronically, whether on a computer or a mobile device.
-
- Website security