Asia-Pacific: Rye Market 2024

Rye Market Size in Asia-Pacific

The Asia-Pacific rye market rose modestly to $X in 2022, with an increase of 2.9% against the previous year. In general, consumption showed a pronounced curtailment. As a result, consumption reached the peak level of $X. From 2017 to 2022, the growth of the market failed to regain momentum.

Rye Production in Asia-Pacific

In value terms, rye production expanded rapidly to $X in 2022 estimated in export price. Over the period under review, production, however, continues to indicate a slight decline. The most prominent rate of growth was recorded in 2016 with an increase of 84%. As a result, production attained the peak level of $X. From 2017 to 2022, production growth remained at a somewhat lower figure.

China (X tons) remains the largest rye producing country in Asia-Pacific, comprising approx. 84% of total volume. Moreover, rye production in China exceeded the figures recorded by the second-largest producer, Democratic People's Republic of Korea (X tons), eightfold.

From 2012 to 2022, the average annual growth rate of volume in China amounted to -2.3%. In the other countries, the average annual rates were as follows: Democratic People's Republic of Korea (-0.5% per year) and Australia (-0.5% per year).

In 2022, the average rye yield in Asia-Pacific was estimated at X tons per ha, approximately equating 2021 figures. In general, the yield, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when the yield increased by 3.9%. As a result, the yield reached the peak level of X tons per ha. From 2014 to 2022, the growth of the rye yield remained at a somewhat lower figure. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, the rye harvested area in Asia-Pacific stood at X ha, remaining stable against the previous year's figure. Overall, the harvested area, however, showed a slight shrinkage. The most prominent rate of growth was recorded in 2016 with an increase of 5%. Over the period under review, the harvested area dedicated to rye production reached the peak figure at X ha in 2012; however, from 2013 to 2022, the harvested area stood at a somewhat lower figure.

Rye Exports

Exports in Asia-Pacific

In 2022, the amount of rye exported in Asia-Pacific reduced to X tons, which is down by -6.1% compared with the previous year's figure. Over the period under review, exports faced a abrupt shrinkage. The most prominent rate of growth was recorded in 2014 with an increase of 586%. As a result, the exports attained the peak of X tons. From 2015 to 2022, the growth of the exports failed to regain momentum.

In value terms, rye exports declined to $X in 2022. Overall, exports saw a abrupt decline. The most prominent rate of growth was recorded in 2014 when exports increased by 310% against the previous year. As a result, the exports attained the peak of $X. From 2015 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Australia dominates exports structure, resulting at X tons, which was near 77% of total exports in 2022. Hong Kong SAR (X tons) held a 7.6% share (based on physical terms) of total exports, which put it in second place, followed by China (6.8%). The following exporters - Taiwan (Chinese) (X tons) and India (X tons) - together made up 5.4% of total exports.

From 2012 to 2022, average annual rates of growth with regard to rye exports from Australia stood at -4.3%. At the same time, Taiwan (Chinese) (+19.7%) and China (+12.3%) displayed positive paces of growth. Moreover, Taiwan (Chinese) emerged as the fastest-growing exporter exported in Asia-Pacific, with a CAGR of +19.7% from 2012-2022. By contrast, Hong Kong SAR (-17.0%) and India (-37.1%) illustrated a downward trend over the same period. While the share of Australia (+45 p.p.), Hong Kong SAR (+7.6 p.p.), China (+6.2 p.p.) and Taiwan (Chinese) (+3 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of India (-60.7 p.p.) displayed negative dynamics.

In value terms, Australia ($X) remains the largest rye supplier in Asia-Pacific, comprising 64% of total exports. The second position in the ranking was taken by China ($X), with an 11% share of total exports. It was followed by India, with a 0.8% share.

In Australia, rye exports decreased by an average annual rate of -7.4% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: China (+14.4% per year) and India (-35.0% per year).

Export Prices by Country

The export price in Asia-Pacific stood at $X per ton in 2022, shrinking by -5.8% against the previous year. Export price indicated a resilient expansion from 2012 to 2022: its price increased at an average annual rate of +5.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, rye export price increased by +85.3% against 2019 indices. The pace of growth was the most pronounced in 2020 when the export price increased by 74%. Over the period under review, the export prices hit record highs at $X per ton in 2021, and then dropped in the following year.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was China ($X per ton), while Taiwan (Chinese) ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+3.4%), while the other leaders experienced mixed trends in the export price figures.

Rye Imports

Imports in Asia-Pacific

In 2022, approx. X tons of rye were imported in Asia-Pacific; shrinking by -37.9% compared with 2021. Over the period under review, imports faced a deep slump. The pace of growth appeared the most rapid in 2016 when imports increased by 47%. Over the period under review, imports attained the maximum at X tons in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

In value terms, rye imports fell to $X in 2022. In general, imports saw a deep contraction. The most prominent rate of growth was recorded in 2016 when imports increased by 21%. Over the period under review, imports hit record highs at $X in 2013; however, from 2014 to 2022, imports failed to regain momentum.

Imports by Country

Japan was the major importer of rye in Asia-Pacific, with the volume of imports finishing at X tons, which was approx. 72% of total imports in 2022. It was distantly followed by South Korea (X tons), committing a 25% share of total imports. Afghanistan (X tons) held a little share of total imports.

Imports into Japan decreased at an average annual rate of -10.4% from 2012 to 2022. At the same time, Afghanistan (+43.6%) displayed positive paces of growth. Moreover, Afghanistan emerged as the fastest-growing importer imported in Asia-Pacific, with a CAGR of +43.6% from 2012-2022. By contrast, South Korea (-10.3%) illustrated a downward trend over the same period. Afghanistan (+1.8 p.p.) significantly strengthened its position in terms of the total imports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, South Korea ($X), Japan ($X) and Afghanistan ($X) constituted the countries with the highest levels of imports in 2022, together comprising 99% of total imports.

Afghanistan, with a CAGR of +39.9%, saw the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced a decline in the imports figures.

Import Prices by Country

The import price in Asia-Pacific stood at $X per ton in 2022, picking up by 49% against the previous year. Import price indicated measured growth from 2012 to 2022: its price increased at an average annual rate of +4.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, rye import price increased by +92.6% against 2017 indices. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was South Korea ($X per ton), while Afghanistan ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+4.6%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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