China: Rice Market 2024

Rice Market Size in China

The Chinese rice market reduced to $X in 2021, standing approx. at the previous year. Overall, consumption, however, continues to indicate a abrupt decline. Rice consumption peaked at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Rice Production in China

In value terms, rice production dropped modestly to $X in 2021 estimated in export price. Over the period under review, production, however, showed a abrupt slump. The pace of growth was the most pronounced in 2015 with an increase of 5.3% against the previous year. Over the period under review, production reached the peak level at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

The average yield of rice in China amounted to X tons per ha in 2021, remaining constant against 2020. Overall, the yield saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of 1.6%. Over the period under review, the average rice yield reached the peak level in 2021 and is likely to continue growth in the immediate term. 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 in China declined slightly to X ha in 2021, flattening at the previous year's figure. In general, the harvested area recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 when the harvested area increased by 1.6% against the previous year. As a result, the harvested area attained the peak level of X ha. From 2016 to 2021, the growth of the rice harvested area remained at a lower figure.

Rice Exports

Exports from China

In 2021, approx. X tons of rice were exported from China; picking up by 6.6% against 2020 figures. In general, exports recorded a significant increase. The most prominent rate of growth was recorded in 2017 when exports increased by 129% against the previous year. The exports peaked at X tons in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

In value terms, rice exports expanded markedly to $X in 2021. Over the period under review, exports enjoyed a strong increase. The pace of growth was the most pronounced in 2017 with an increase of 57% against the previous year. Over the period under review, the exports hit record highs at $X in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

Exports by Country

Egypt (X tons), South Korea (X tons) and Sierra Leone (X tons) were the main destinations of rice exports from China, with a combined 27% share of total exports. These countries were followed by Papua New Guinea, Guinea, Cameroon, Niger, Turkey, Puerto Rico, Senegal, Guinea-Bissau, Ghana and Syrian Arab Republic, which together accounted for a further 43%.

From 2012 to 2021, the biggest increases were recorded for Cameroon (with a CAGR of +545.3%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, South Korea ($X) remains the key foreign market for rice exports from China, comprising 18% of total exports. The second position in the ranking was held by Egypt ($X), with a 7.7% share of total exports. It was followed by Papua New Guinea, with a 5.3% share.

From 2012 to 2021, the average annual rate of growth in terms of value to South Korea stood at +11.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Egypt (+134.3% per year) and Papua New Guinea (+468.4% per year).

Export Prices by Country

In 2021, the average rice export price amounted to $X per ton, surging by 6.1% against the previous year. Over the period under review, the export price, however, recorded a deep slump. Over the period under review, the average export prices reached the maximum 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 for the major external markets. In 2021, amid the top suppliers, the country with the highest price was South Korea ($X per ton), while the average price for exports to Niger ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Syrian Arab Republic (+9.4%), while the prices for the other major destinations experienced more modest paces of growth.

Rice Imports

Imports into China

In 2021, overseas purchases of rice increased by 69% to X tons, rising for the second year in a row after two years of decline. Overall, imports saw a remarkable increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, rice imports surged to $X in 2021. In general, total imports indicated buoyant growth from 2012 to 2021: its value increased at an average annual rate of +7.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +74.5% against 2019 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

India (X tons), Vietnam (X tons) and Pakistan (X tons) were the main suppliers of rice imports to China, together comprising 64% of total imports.

From 2012 to 2021, the biggest increases were recorded for India (with a CAGR of +174.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest rice suppliers to China were Vietnam ($X), Pakistan ($X) and India ($X), together comprising 60% of total imports.

India, with a CAGR of +165.5%, recorded the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average rice import price amounted to $X per ton, declining by -11.4% against the previous year. Overall, the import price showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 when the average import price increased by 43% against the previous year. As a result, import price reached the peak level of $X per ton. From 2017 to 2021, the average import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Cambodia ($X per ton), while the price for India ($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 (+1.4%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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