Asia: Rice Market 2025

Rice Market Size in Asia

For the third year in a row, the Asian rice market recorded growth in sales value, which increased by 1.1% to $X in 2021. In general, consumption, however, recorded a noticeable decrease. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Rice Production in Asia

In value terms, rice production fell slightly to $X in 2021 estimated in export price. Overall, production, however, recorded a perceptible setback. The most prominent rate of growth was recorded in 2017 with an increase of 5.7%. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

The countries with the highest volumes of production in 2021 were China (X tons), India (X tons) and Bangladesh (X tons), with a combined 66% share of total production.

From 2012 to 2021, the most notable rate of growth in terms of production, amongst the main producing countries, was attained by India (with a CAGR of +2.4%), while production for the other leaders experienced more modest paces of growth.

In 2021, the average yield of rice in Asia amounted to X tons per ha, remaining relatively unchanged against 2020. In general, the yield continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 with an increase of 1.4%. Over the period under review, the rice yield reached the maximum level in 2021 and is expected to retain growth in years to come. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2021, the harvested area of rice in Asia reached X ha, leveling off at 2020 figures. Over the period under review, the harvested area showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 when the harvested area increased by 1.7%. Over the period under review, the harvested area dedicated to rice production attained the maximum at X ha in 2013; afterwards, it flattened through to 2021.

Rice Exports

Exports in Asia

In 2021, shipments abroad of rice increased by 17% to X tons, rising for the second year in a row after two years of decline. The total export volume increased at an average annual rate of +3.9% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2017 when exports increased by 18% against the previous year. The volume of export peaked in 2021 and is likely to see steady growth in the near future.

In value terms, rice exports rose rapidly to $X in 2021. The total export value increased at an average annual rate of +2.0% over the period from 2012 to 2021; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed in certain years. The pace of growth appeared the most rapid in 2017 with an increase of 22%. Over the period under review, the exports reached the maximum in 2021 and are likely to see steady growth in years to come.

Exports by Country

India represented the main exporter of rice in Asia, with the volume of exports recording X tons, which was approx. 49% of total exports in 2021. Thailand (X tons) took a 14% share (based on physical terms) of total exports, which put it in second place, followed by Vietnam (13%), Pakistan (9.2%) and China (5.6%). Myanmar (X tons) held a little share of total exports.

From 2012 to 2021, average annual rates of growth with regard to rice exports from India stood at +8.0%. At the same time, China (+26.6%), Myanmar (+7.3%) and Pakistan (+1.8%) displayed positive paces of growth. Moreover, China emerged as the fastest-growing exporter exported in Asia, with a CAGR of +26.6% from 2012-2021. Thailand experienced a relatively flat trend pattern. By contrast, Vietnam (-3.6%) illustrated a downward trend over the same period. From 2012 to 2021, the share of India and China increased by +15 and +4.7 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X) remains the largest rice supplier in Asia, comprising 46% of total exports. The second position in the ranking was held by Thailand ($X), with a 16% share of total exports. It was followed by Vietnam, with a 14% share.

In India, rice exports increased at an average annual rate of +5.1% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: Thailand (-3.4% per year) and Vietnam (-2.2% per year).

Export Prices by Country

The export price in Asia stood at $X per ton in 2021, waning by -9.4% against the previous year. In general, the export price showed a slight slump. The pace of growth appeared the most rapid in 2013 when the export price increased by 8.8%. As a result, the export price attained the peak level of $X per ton. From 2014 to 2021, the export prices failed to regain momentum.

Average prices varied somewhat amongst the major exporting countries. In 2021, major exporting countries recorded the following prices: in Thailand ($X per ton) and Pakistan ($X per ton), while Myanmar ($X per ton) and China ($X per ton) were 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 Asia

In 2021, the amount of rice imported in Asia surged to X tons, rising by 17% on 2020 figures. The total import volume increased at an average annual rate of +3.2% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2014 when imports increased by 17% against the previous year. The volume of import peaked in 2021 and is likely to continue growth in the near future.

In value terms, rice imports totaled $X in 2021. The total import value increased at an average annual rate of +1.6% from 2012 to 2021; however, the trend pattern remained relatively stable, with only minor fluctuations being observed in certain years. The pace of growth appeared the most rapid in 2018 with an increase of 16%. Over the period under review, imports hit record highs in 2021 and are expected to retain growth in years to come.

Imports by Country

In 2021, China (X tons), distantly followed by Bangladesh (X tons), the Philippines (X tons), Iraq (X tons), Nepal (X tons), Saudi Arabia (X tons) and Malaysia (X tons) were the largest importers of rice, together creating 66% of total imports. Iran (X tons), the United Arab Emirates (X tons), Yemen (X tons), Japan (X tons), Indonesia (X tons) and South Korea (X tons) took a little share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Nepal (with a CAGR of +15.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest rice importing markets in Asia were China ($X), the Philippines ($X) and Saudi Arabia ($X), with a combined 35% share of total imports. Bangladesh, Iraq, Iran, Malaysia, the United Arab Emirates, Japan, Yemen, Nepal, South Korea and Indonesia lagged somewhat behind, together accounting for a further 46%.

Nepal, with a CAGR of +18.7%, recorded the highest growth rate of the value of imports, among the main importing countries 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 Asia stood at $X per ton in 2021, falling by -8.5% against the previous year. Over the period under review, the import price recorded a slight decrease. The pace of growth appeared the most rapid in 2018 when the import price increased by 9.2%. The level of import peaked at $X per ton in 2013; however, from 2014 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Nepal (+2.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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