Croatia: Rice Market 2024

Rice Market Size in Croatia

The Croatian rice market skyrocketed to $X in 2021, rising by 18% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). The market value increased at an average annual rate of +2.0% over the period from 2012 to 2021; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed in certain years. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Rice Exports

Exports from Croatia

In 2021, overseas shipments of rice decreased by -43.5% to X tons, falling for the second year in a row after two years of growth. In general, exports saw a drastic downturn. The most prominent rate of growth was recorded in 2015 when exports increased by 170% 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 shrank rapidly to $X in 2021. Over the period under review, exports showed a deep downturn. The growth pace was the most rapid in 2018 when exports increased by 122% 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 stood at a somewhat lower figure.

Exports by Country

Germany (X tons) was the main destination for rice exports from Croatia, accounting for a 51% share of total exports. Moreover, rice exports to Germany exceeded the volume sent to the second major destination, Slovenia (X tons), twofold. Bosnia and Herzegovina (X tons) ranked third in terms of total exports with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Germany stood at +153.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Slovenia (+32.8% per year) and Bosnia and Herzegovina (-23.2% per year).

In value terms, the largest markets for rice exported from Croatia were Germany ($X), Slovenia ($X) and Montenegro ($X), together comprising 86% of total exports. These countries were followed by Bosnia and Herzegovina, Sweden, Serbia and the Netherlands, which together accounted for a further 12%.

Among the main countries of destination, Sweden, with a CAGR of +557.7%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average rice export price amounted to $X per ton, jumping by 49% against the previous year. Over the period under review, the export price, however, recorded a mild decrease. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was the Netherlands ($X per ton), while the average price for exports to Sweden ($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 Serbia (+21.8%), while the prices for the other major destinations experienced more modest paces of growth.

Rice Imports

Imports into Croatia

In 2021, imports of rice into Croatia rose slightly to X tons, growing by 4.7% on 2020. In general, imports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when imports increased by 9.4%. As a result, imports reached the peak of X tons. From 2017 to 2021, the growth of imports remained at a lower figure.

In value terms, rice imports surged to $X in 2021. The total import value increased at an average annual rate of +2.2% over the period from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Italy (X tons) constituted the largest rice supplier to Croatia, with a 51% share of total imports. Moreover, rice imports from Italy exceeded the figures recorded by the second-largest supplier, Slovenia (X tons), fourfold. Myanmar (X tons) ranked third in terms of total imports with a 12% share.

From 2012 to 2021, the average annual growth rate of volume from Italy stood at +7.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Slovenia (+4.6% per year) and Myanmar (+42.1% per year).

In value terms, Italy ($X) constituted the largest supplier of rice to Croatia, comprising 58% of total imports. The second position in the ranking was taken by Slovenia ($X), with a 15% share of total imports. It was followed by Myanmar, with a 6.4% share.

From 2012 to 2021, the average annual growth rate of value from Italy stood at +6.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Slovenia (+4.5% per year) and Myanmar (+49.0% per year).

Import Prices by Country

In 2021, the average rice import price amounted to $X per ton, increasing by 15% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.5%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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 Slovenia ($X per ton), while the price for India ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Thailand (+30.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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