ASEAN: Rice Bran Market 2024

Rice Bran Market Size in ASEAN

In 2021, the ASEAN rice bran market was finally on the rise to reach $X after two years of decline. The market value increased at an average annual rate of +2.0% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market attained the maximum level in 2021 and is expected to retain growth in the immediate term.

Rice Bran Production in ASEAN

In value terms, rice bran production skyrocketed to $X in 2021 estimated in export price. Over the period under review, production recorded a resilient expansion. As a result, production attained the peak level and is likely to continue growth in the immediate term.

Rice Bran Exports

Exports in ASEAN

In 2021, rice bran exports in ASEAN surged to X tons, growing by 26% compared with 2020 figures. Over the period under review, exports recorded a significant expansion. The most prominent rate of growth was recorded in 2017 when exports increased by 68% against the previous year. Over the period under review, the exports reached the maximum in 2021 and are likely to continue growth in years to come.

In value terms, rice bran exports soared to $X in 2021. In general, exports recorded a significant expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Vietnam prevails in exports structure, resulting at X tons, which was near 86% of total exports in 2021. It was distantly followed by Malaysia (X tons), committing a 6% share of total exports. Singapore (X tons) and Thailand (X tons) followed a long way behind the leaders.

Exports from Vietnam increased at an average annual rate of +24.8% from 2012 to 2021. At the same time, Malaysia (+29.7%), Thailand (+12.1%) and Singapore (+3.7%) displayed positive paces of growth. Moreover, Malaysia emerged as the fastest-growing exporter exported in ASEAN, with a CAGR of +29.7% from 2012-2021. Vietnam (+19 p.p.) and Malaysia (+2.7 p.p.) significantly strengthened its position in terms of the total exports, while Thailand and Singapore saw its share reduced by -2.9% and -11.8% from 2012 to 2021, respectively.

In value terms, Vietnam ($X) remains the largest rice bran supplier in ASEAN, comprising 88% of total exports. The second position in the ranking was taken by Malaysia ($X), with a 3.7% share of total exports. It was followed by Thailand, with a 2.8% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Vietnam totaled +22.2%. The remaining exporting countries recorded the following average annual rates of exports growth: Malaysia (+20.4% per year) and Thailand (+16.4% per year).

Export Prices by Country

In 2021, the export price in ASEAN amounted to $X per ton, jumping by 34% against the previous year. Over the period under review, the export price, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 an increase of 58%. The level of export peaked at $X per ton in 2012; however, from 2013 to 2021, 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 Vietnam ($X per ton), while Singapore ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Thailand (+3.8%), while the other leaders experienced mixed trends in the export price figures.

Rice Bran Imports

Imports in ASEAN

In 2021, imports of rice bran in ASEAN shrank to X tons, with a decrease of -10.5% against 2020 figures. In general, imports showed a pronounced reduction. The pace of growth was the most pronounced in 2014 when imports increased by 106%. As a result, imports attained the peak of X tons. From 2015 to 2021, the growth of imports failed to regain momentum.

In value terms, rice bran imports rose slightly to $X in 2021. Over the period under review, imports saw a slight downturn. The pace of growth was the most pronounced in 2014 when imports increased by 159%. As a result, imports reached the peak of $X. From 2015 to 2021, the growth of imports remained at a lower figure.

Imports by Country

The countries with the highest levels of rice bran imports in 2021 were Thailand (X tons), Lao People's Democratic Republic (X tons), Vietnam (X tons) and Cambodia (X tons), together accounting for 87% of total import. It was distantly followed by Malaysia (X tons), mixing up a 5.7% share of total imports. The following importers - Brunei Darussalam (X tons) and Indonesia (X tons) - together made up 6% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Thailand (with a CAGR of +85.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Lao People's Democratic Republic ($X), Thailand ($X) and Vietnam ($X) appeared to be the countries with the highest levels of imports in 2021, together comprising 64% of total imports. These countries were followed by Cambodia, Malaysia, Indonesia and Brunei Darussalam, which together accounted for a further 33%.

In terms of the main importing countries, Indonesia, with a CAGR of +48.8%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in ASEAN stood at $X per ton in 2021, surging by 15% against the previous year. Overall, the import price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when the import price increased by 26% against the previous year. The level of import peaked at $X per ton in 2019; however, from 2020 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Indonesia ($X per ton), while Brunei Darussalam ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Indonesia (+6.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform