CIS: Rice Bran Market 2024

Rice Bran Market Size in CIS

The CIS rice bran market skyrocketed to $X in 2021, growing by 30% against the previous year. The market value increased at an average annual rate of +5.1% 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 hit record highs in 2021 and is likely to see steady growth in years to come.

Rice Bran Production in CIS

In value terms, rice bran production surged to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +5.1% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2013 with an increase of 38%. The level of production peaked in 2021 and is likely to see gradual growth in the immediate term.

Rice Bran Exports

Exports in CIS

In 2021, approx. X tons of rice bran were exported in the CIS; waning by -5.9% on the year before. Total exports indicated notable growth from 2012 to 2021: its volume increased at an average annual rate of +2.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +3.6% against 2019 indices. The most prominent rate of growth was recorded in 2017 with an increase of 41% against the previous year. As a result, the exports reached the peak of X tons. From 2018 to 2021, the growth of the exports failed to regain momentum.

In value terms, rice bran exports skyrocketed to $X in 2021. The total export value increased at an average annual rate of +5.4% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2017 with an increase of 26%. Over the period under review, the exports hit record highs in 2021 and are likely to see steady growth in the immediate term.

Exports by Country

Russia prevails in exports structure, reaching X tons, which was near 91% of total exports in 2021. Belarus (X tons), Kazakhstan (X tons) and Azerbaijan (X tons) held a relatively small share of total exports.

From 2012 to 2021, average annual rates of growth with regard to rice bran exports from Russia stood at +2.4%. At the same time, Kazakhstan (+14.1%), Belarus (+11.1%) and Azerbaijan (+7.4%) displayed positive paces of growth. Moreover, Kazakhstan emerged as the fastest-growing exporter exported in the CIS, with a CAGR of +14.1% from 2012-2021. Kazakhstan (+2 p.p.) and Belarus (+1.8 p.p.) significantly strengthened its position in terms of the total exports, while Russia saw its share reduced by -4.4% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Russia ($X) remains the largest rice bran supplier in the CIS, comprising 94% of total exports. The second position in the ranking was taken by Azerbaijan ($X), with a 2.3% share of total exports. It was followed by Kazakhstan, with a 2.2% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Russia stood at +5.0%. The remaining exporting countries recorded the following average annual rates of exports growth: Azerbaijan (+18.0% per year) and Kazakhstan (+21.3% per year).

Export Prices by Country

In 2021, the export price in the CIS amounted to $X per ton, surging by 24% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.5%. The most prominent rate of growth was recorded in 2013 when the export price increased by 28%. Over the period under review, the export prices hit record highs at $X per ton in 2014; however, from 2015 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 Azerbaijan ($X per ton), while Belarus ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Azerbaijan (+9.9%), while the other leaders experienced more modest paces of growth.

Rice Bran Imports

Imports in CIS

In 2021, after five years of growth, there was significant decline in purchases abroad of rice bran, when their volume decreased by -32.1% to X tons. Over the period under review, imports, however, showed a significant increase. The most prominent rate of growth was recorded in 2017 when imports increased by 158% against the previous year. The volume of import peaked at X tons in 2020, and then declined notably in the following year.

In value terms, rice bran imports shrank rapidly to $X in 2021. Overall, imports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 with an increase of 40%. Over the period under review, imports reached the maximum at $X in 2020, and then reduced notably in the following year.

Imports by Country

Kyrgyzstan prevails in imports structure, finishing at X tons, which was approx. 74% of total imports in 2021. Uzbekistan (X tons) took an 8.5% share (based on physical terms) of total imports, which put it in second place, followed by Kazakhstan (7.9%). Armenia (X tons) and Russia (X tons) followed a long way behind the leaders.

Kyrgyzstan was also the fastest-growing in terms of the rice bran imports, with a CAGR of +349.4% from 2012 to 2021. At the same time, Kazakhstan (+45.0%) and Armenia (+7.0%) displayed positive paces of growth. By contrast, Uzbekistan (-10.4%) and Russia (-13.3%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Kyrgyzstan, Uzbekistan, Kazakhstan and Armenia increased by +74, +8.5, +5.9 and +3.8 percentage points, respectively.

In value terms, Kyrgyzstan ($X), Russia ($X) and Kazakhstan ($X) constituted the countries with the highest levels of imports in 2021, with a combined 80% share of total imports.

Kyrgyzstan, with a CAGR of +264.4%, recorded the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

The import price in the CIS stood at $X per ton in 2021, growing by 14% against the previous year. Overall, the import price, however, recorded a abrupt setback. The most prominent rate of growth was recorded in 2014 when the import price increased by 52%. As a result, import price attained the peak level of $X per ton. From 2015 to 2021, the import prices failed to regain momentum.

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 Russia ($X per ton), while Uzbekistan ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Russia (+1.9%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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