ASEAN: Rice Market 2025

Rice Market Size in ASEAN

The ASEAN rice market stood at $X in 2021, with an increase of 5.4% against the previous year. In general, consumption, however, saw a slight descent. The level of consumption peaked at $X in 2013; however, from 2014 to 2021, consumption failed to regain momentum.

Rice Production in ASEAN

In value terms, rice production expanded modestly to $X in 2021 estimated in export price. Over the period under review, production, however, recorded a noticeable reduction. The pace of growth was the most pronounced in 2017 when the production volume increased by 15% against the previous year. The level of production peaked at $X in 2013; however, from 2014 to 2021, production failed to regain momentum.

The countries with the highest volumes of production in 2021 were Indonesia (X tons), Vietnam (X tons) and Thailand (X tons), with a combined 68% share of total production. These countries were followed by Myanmar, the Philippines, Cambodia and Lao People's Democratic Republic, which together accounted for a further 31%.

From 2012 to 2021, the most notable rate of growth in terms of production, amongst the leading producing countries, was attained by Cambodia (with a CAGR of +2.3%), while production for the other leaders experienced more modest paces of growth.

The average rice yield rose to X tons per ha in 2021, with an increase of 1.5% on the previous year. In general, the yield recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of 1.8%. Over the period under review, the rice yield hit record highs at X tons per ha in 2015; afterwards, it flattened through to 2021. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

The rice harvested area amounted to X ha in 2021, stabilizing at 2020. Overall, the harvested area, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the harvested area increased by 2.1%. Over the period under review, the harvested area dedicated to rice production attained the peak figure at X ha in 2012; however, from 2013 to 2021, the harvested area remained at a lower figure.

Rice Exports

Exports in ASEAN

For the fourth year in a row, ASEAN recorded decline in overseas shipments of rice, which decreased by -3.5% to X tons in 2021. In general, exports saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 with an increase of 27% against the previous year. The volume of export peaked at X tons in 2017; however, from 2018 to 2021, the exports stood at a somewhat lower figure.

In value terms, rice exports fell to $X in 2021. Over the period under review, exports saw a mild contraction. The most prominent rate of growth was recorded in 2017 when exports increased by 19% against the previous year. Over the period under review, the exports attained the maximum at $X in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

Exports by Country

Thailand (X tons) and Vietnam (X tons) represented roughly 82% of total exports in 2021. It was distantly followed by Myanmar (X tons), making up a 12% share of total exports. Cambodia (X tons) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were recorded for Cambodia (with a CAGR of +13.9%), while shipments for the other leaders experienced mixed trends in the exports figures.

In value terms, the largest rice supplying countries in ASEAN were Thailand ($X), Vietnam ($X) and Myanmar ($X), together comprising 93% of total exports. Cambodia lagged somewhat behind, comprising a further 5.6%.

Cambodia, with a CAGR of +13.1%, 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 mixed trends in the exports figures.

Export Prices by Country

The export price in ASEAN stood at $X per ton in 2021, waning by -4.4% against the previous year. Overall, the export price saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when the export price increased by 11%. 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.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Cambodia ($X per ton), while Myanmar ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Vietnam (+1.5%), while the other leaders experienced a decline in the export price figures.

Rice Imports

Imports in ASEAN

After two years of decline, supplies from abroad of rice increased by 6.3% to X tons in 2021. Overall, imports saw a mild expansion. The most prominent rate of growth was recorded in 2018 with an increase of 112%. As a result, imports attained the peak of X tons. From 2019 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, rice imports expanded remarkably to $X in 2021. Over the period under review, imports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of 106% against the previous year. As a result, imports attained the peak of $X. From 2019 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

The Philippines represented the major importing country with an import of about X tons, which resulted at 51% of total imports. It was distantly followed by Malaysia (X tons), Indonesia (X tons) and Singapore (X tons), together creating a 44% share of total imports. The following importers - Vietnam (X tons) and Lao People's Democratic Republic (X tons) - each accounted for a 3.3% share of total imports.

Imports into the Philippines increased at an average annual rate of +10.4% from 2012 to 2021. At the same time, Lao People's Democratic Republic (+16.7%), Vietnam (+5.5%) and Malaysia (+1.0%) displayed positive paces of growth. Moreover, Lao People's Democratic Republic emerged as the fastest-growing importer imported in ASEAN, with a CAGR of +16.7% from 2012-2021. Singapore experienced a relatively flat trend pattern. By contrast, Indonesia (-11.4%) illustrated a downward trend over the same period. While the share of the Philippines (+28 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Indonesia (-28.4 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the Philippines ($X) constitutes the largest market for imported rice in ASEAN, comprising 50% of total imports. The second position in the ranking was held by Malaysia ($X), with a 24% share of total imports. It was followed by Indonesia, with an 11% share.

In the Philippines, rice imports increased at an average annual rate of +12.2% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Malaysia (-1.0% per year) and Indonesia (-13.0% per year).

Import Prices by Country

The import price in ASEAN stood at $X per ton in 2021, flattening at the previous year. Over the period under review, the import price, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 when the import price increased by 14%. The level of import peaked at $X per ton in 2013; however, from 2014 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 Singapore ($X per ton), while Lao People's Democratic Republic ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Philippines (+1.7%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform