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India - Rice - Market Analysis, Forecast, Size, Trends and Insights
Report Update: Feb 1, 2025

India - Rice - Market Analysis, Forecast, Size, Trends and Insights

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Nov 23, 2024

India's Rice Exports Dip Marginally to $10.5 Billion in 2023

India Rice Exports

After three years of growth, overseas shipments of rice decreased by -19.7% to 18M tons in 2023. Overall, exports, however, posted a noticeable increase. The pace of growth appeared the most rapid in 2020 when exports increased by 48%. The exports peaked at 22M tons in 2022, and then dropped significantly in the following year.

In value terms, rice exports fell modestly to $10.5B (IndexBox estimates) in 2023. Over the period under review, total exports indicated a tangible expansion from 2013 to 2023: its value increased at an average annual rate of +2.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, exports increased by +53.7% against 2019 indices. The most prominent rate of growth was recorded in 2017 when exports increased by 33%. Over the period under review, the exports hit record highs at $10.8B in 2022, and then contracted modestly in the following year.India Rice Exports By Country (Million USD)

COUNTRYExport Value of Rice in India (million USD)
20132014201520162017201820192020202120222023
Saudi Arabia1,1151,3781,0727047689891,0711,0977889901,279
Iran2,2521,2837305038731,1901,4458766621,155734
Iraq284271400410487416473590522354733
Benin585256196243319234249355455551571
United Arab Emirates355413563640515507352385319433464
Yemen229244180142165233249307240330335
United States172205160143174200207260211271333
Senegal24820625015127525259.4220336425322
Others2,9313,6502,8292,3793,5013,3242,6963,8896,0926,2585,682
Total8,1707,9066,3805,3167,0767,3466,8017,9809,62410,76710,453

Exports by Country

Benin (1.5M tons), Saudi Arabia (1.2M tons) and Senegal (937K tons) were the main destinations of rice exports from India, with a combined 21% share of total exports. Iran, Iraq, the United Arab Emirates, Yemen and the United States lagged somewhat behind, together accounting for a further 15%.

From 2013 to 2023, the biggest increases were recorded for Iraq (with a CAGR of +10.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for rice exported from India were Saudi Arabia ($1.3B), Iran ($734M) and Iraq ($733M), together accounting for 26% of total exports.

Iraq, with a CAGR of +9.9%, saw the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2023, the rice price amounted to $585 per ton (FOB, India), with an increase of 21% against the previous year. In general, the export price, however, recorded a perceptible downturn. Over the period under review, the average export prices hit record highs at $717 per ton in 2013; however, from 2014 to 2023, the export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In 2023, amid the top suppliers, the country with the highest price was Iraq ($1,056 per ton), while the average price for exports to Senegal ($344 per ton) was amongst the lowest.

From 2013 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Nepal (+2.2%), while the prices for the other major destinations experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the rice market in India. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

  • FCL 27 - Rice, paddy

Country coverage:

  • India

Data coverage:

  • Market volume and value
  • Per Capita consumption
  • Forecast of the market dynamics in the medium term
  • Trade (exports and imports) in India
  • Export and import prices
  • Market trends, drivers and restraints
  • Key market players and their profiles

Reasons to buy this report:

  • Take advantage of the latest data
  • Find deeper insights into current market developments
  • Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

  1. How to diversify your business and benefit from new market opportunities
  2. How to load your idle production capacity
  3. How to boost your sales on overseas markets
  4. How to increase your profit margins
  5. How to make your supply chain more sustainable
  6. How to reduce your production and supply chain costs
  7. How to outsource production to other countries
  8. How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

  1. 1. INTRODUCTION

    Making Data-Driven Decisions to Grow Your Business

    1. REPORT DESCRIPTION
    2. RESEARCH METHODOLOGY AND AI PLATFORM
    3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
    4. GLOSSARY AND SPECIFIC TERMS

  2. 2. EXECUTIVE SUMMARY

    A Quick Overview of Market Performance

    1. KEY FINDINGS
    2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO

  3. 3. MARKET OVERVIEW

    Understanding the Current State of The Market and Its Prospects

    1. MARKET SIZE
    2. MARKET STRUCTURE
    3. TRADE BALANCE
    4. PER CAPITA CONSUMPTION
    5. MARKET FORECAST TO 2030

  4. 4. MOST PROMISING PRODUCT

    Finding New Products to Diversify Your Business

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
    2. BEST-SELLING PRODUCTS
    3. MOST CONSUMED PRODUCT
    4. MOST TRADED PRODUCT
    5. MOST PROFITABLE PRODUCT FOR EXPORT

  5. 5. MOST PROMISING SUPPLYING COUNTRIES

    Choosing the Best Countries to Establish Your Sustainable Supply Chain

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
    2. TOP PRODUCING COUNTRIES
    3. COUNTRIES WITH TOP YIELDS
    4. TOP EXPORTING COUNTRIES
    5. LOW-COST EXPORTING COUNTRIES

  6. 6. MOST PROMISING OVERSEAS MARKETS

    Choosing the Best Countries to Boost Your Exports

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
    2. TOP CONSUMING MARKETS
    3. UNSATURATED MARKETS
    4. TOP IMPORTING MARKETS
    5. MOST PROFITABLE MARKETS

  7. 7. PRODUCTION

    The Latest Trends and Insights into The Industry

    1. PRODUCTION, HARVESTED AREA AND YIELD

  8. 8. IMPORTS

    The Largest Import Supplying Countries

    1. IMPORTS FROM 2012–2024
    2. IMPORTS BY COUNTRY
    3. IMPORT PRICES BY COUNTRY

  9. 9. EXPORTS

    The Largest Destinations for Exports

    1. EXPORTS FROM 2012–2024
    2. EXPORTS BY COUNTRY
    3. EXPORT PRICES BY COUNTRY

  10. 10. PROFILES OF MAJOR PRODUCERS

    The Largest Producers on The Market and Their Profiles

    This Chapter is Available Only for the Professional Edition PRO

  11. LIST OF TABLES

    1. Key Findings In 2024
    2. Market Volume, In Physical Terms, 2012–2024
    3. Market Value, 2012–2024
    4. Per Capita Consumption In 2012-2024
    5. Imports, In Physical Terms, By Country, 2012–2024
    6. Imports, In Value Terms, By Country, 2012–2024
    7. Import Prices, By Country Of Origin, 2012–2024
    8. Exports, In Physical Terms, By Country, 2012–2024
    9. Exports, In Value Terms, By Country, 2012–2024
    10. Export Prices, By Country Of Destination, 2012–2024

  12. LIST OF FIGURES

    1. Market Volume, In Physical Terms, 2012–2024
    2. Market Value, 2012–2024
    3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2024
    4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2024
    5. Trade Balance, In Physical Terms, 2012-2024
    6. Trade Balance, In Value Terms, 2012-2024
    7. Per Capita Consumption, 2012-2024
    8. Market Volume Forecast to 2030
    9. Market Value Forecast to 2030
    10. Products: Market Size And Growth, By Type
    11. Products: Average Per Capita Consumption, By Type
    12. Products: Exports And Growth, By Type
    13. Products: Export Prices And Growth, By Type
    14. Production Volume And Growth
    15. Yield And Growth
    16. Exports And Growth
    17. Export Prices And Growth
    18. Market Size And Growth
    19. Per Capita Consumption
    20. Imports And Growth
    21. Import Prices
    22. Production, In Physical Terms, 2012–2024
    23. Production, In Value Terms, 2012–2024
    24. Area Harvested, 2012–2024
    25. Yield, 2012–2024
    26. Imports, In Physical Terms, 2012–2024
    27. Imports, In Value Terms, 2012–2024
    28. Imports, In Physical Terms, By Country, 2024
    29. Imports, In Physical Terms, By Country, 2012–2024
    30. Imports, In Value Terms, By Country, 2012–2024
    31. Import Prices, By Country Of Origin, 2012–2024
    32. Exports, In Physical Terms, 2012–2024
    33. Exports, In Value Terms, 2012–2024
    34. Exports, In Physical Terms, By Country, 2024
    35. Exports, In Physical Terms, By Country, 2012–2024
    36. Exports, In Value Terms, By Country, 2012–2024
    37. Export Prices, By Country Of Destination, 2012–2024

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