EU: Rice Market 2024

Rice Market Size in the EU

The EU rice market expanded markedly to $X in 2021, surging by 5.3% against the previous year. The market value increased at an average annual rate of +2.7% over the period from 2012 to 2021; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2019 with an increase of 9.9% against the previous year. Over the period under review, the market reached the peak level in 2021 and is likely to see gradual growth in the near future.

Rice Production in the EU

In value terms, rice production amounted to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.0% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2020 when the production volume increased by 13%. The level of production peaked in 2021 and is likely to see gradual growth in the immediate term.

Italy (X tons) remains the largest rice producing country in the European Union, comprising approx. 51% of total volume. Moreover, rice production in Italy exceeded the figures recorded by the second-largest producer, Spain (X tons), twofold. Greece (X tons) ranked third in terms of total production with an 8.4% share.

From 2012 to 2021, the average annual rate of growth in terms of volume in Italy amounted to -1.0%. In the other countries, the average annual rates were as follows: Spain (-4.1% per year) and Greece (+0.5% per year).

In 2021, the average yield of rice in the European Union dropped slightly to X tons per ha, waning by -2.4% on the previous year. Overall, the yield saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 when the yield increased by 3.8% against the previous year. The level of yield peaked at X tons per ha in 2017; however, from 2018 to 2021, the yield remained at a lower figure. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2021, the rice harvested area in the European Union reduced modestly to X ha, with a decrease of -4.5% on the year before. Over the period under review, the harvested area saw a mild shrinkage. The pace of growth appeared the most rapid in 2020 when the harvested area increased by 2%. Over the period under review, the harvested area dedicated to rice production attained the peak figure at X ha in 2012; however, from 2013 to 2021, the harvested area stood at a somewhat lower figure.

Rice Exports

Exports in the EU

Rice exports dropped to X tons in 2021, waning by -5.9% against 2020 figures. The total export volume increased at an average annual rate of +1.8% from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations throughout the analyzed period. The pace of growth appeared the most rapid in 2020 with an increase of 19%. As a result, the exports attained the peak of X tons, and then fell in the following year.

In value terms, rice exports rose to $X in 2021. The total export value increased at an average annual rate of +3.1% over the period from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2020 with an increase of 18% against the previous year. Over the period under review, the exports reached the peak figure in 2021 and are expected to retain growth in the near future.

Exports by Country

In 2021, Italy (X tons), distantly followed by Belgium (X tons), the Netherlands (X tons), Spain (X tons) and Greece (X tons) were the main exporters of rice, together committing 82% of total exports. The following exporters - Portugal (X tons) and Bulgaria (X tons) - each recorded an 8.3% share of total exports.

From 2012 to 2021, the biggest increases were recorded for Portugal (with a CAGR of +18.5%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest rice supplying countries in the European Union were Italy ($X), Belgium ($X) and the Netherlands ($X), together comprising 69% of total exports. Spain, Greece, Portugal and Bulgaria lagged somewhat behind, together accounting for a further 18%.

Portugal, with a CAGR of +19.6%, saw the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in the European Union stood at $X per ton in 2021, with an increase of 8.4% against the previous year. Over the last nine-year period, it increased at an average annual rate of +1.3%. As a result, the export 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 exporting countries. In 2021, amid the top suppliers, the country with the highest price was the Netherlands ($X per ton), while Bulgaria ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Italy (+2.2%), while the other leaders experienced more modest paces of growth.

Rice Imports

Imports in the EU

In 2021, supplies from abroad of rice decreased by -4.2% to X tons for the first time since 2017, thus ending a three-year rising trend. The total import volume increased at an average annual rate of +4.2% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2020 with an increase of 16% against the previous year. As a result, imports reached the peak of X tons, and then shrank in the following year.

In value terms, rice imports stood at $X in 2021. The total import value increased at an average annual rate of +4.6% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2020 with an increase of 17%. The level of import peaked in 2021 and is expected to retain growth in the near future.

Imports by Country

Belgium (X tons), France (X tons), the Netherlands (X tons), Germany (X tons), Spain (X tons), Italy (X tons), Poland (X tons) and Portugal (X tons) represented roughly 84% of total imports in 2021.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Spain (with a CAGR of +10.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, France ($X), Germany ($X) and Belgium ($X) were the countries with the highest levels of imports in 2021, with a combined 48% share of total imports. These countries were followed by the Netherlands, Italy, Spain, Poland and Portugal, which together accounted for a further 33%.

Italy, with a CAGR of +8.8%, 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

In 2021, the import price in the European Union amounted to $X per ton, with an increase of 5.9% against the previous year. In general, the import price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the import price increased by 7.7%. The level of import peaked at $X per ton in 2014; however, from 2015 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+2.5%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :