Iraq: Paddy Rice Market 2024

Paddy Rice Market Size in Iraq

The Iraqi paddy rice market soared to $X in 2021, picking up by 25% against the previous year. Overall, consumption showed a measured increase. Paddy rice consumption peaked at $X in 2019; however, from 2020 to 2021, consumption remained at a lower figure.

Paddy Rice Production in Iraq

In value terms, paddy rice production surged to $X in 2021 estimated in export price. Overall, production recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of 259%. As a result, production attained the peak level of $X. From 2019 to 2021, production growth failed to regain momentum.

In 2021, the average yield of paddy rice in Iraq reduced slightly to X tons per ha, approximately reflecting the previous year's figure. Over the period under review, the yield showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when the yield increased by 157%. Over the period under review, the average paddy rice yield attained the maximum level at X tons per ha in 2014; however, from 2015 to 2021, the yield failed to regain momentum. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2021, approx. X ha of paddy rice were harvested in Iraq; increasing by 13% compared with 2020 figures. Over the period under review, the harvested area continues to indicate a tangible expansion. The most prominent rate of growth was recorded in 2018 when the harvested area increased by 68% against the previous year. The paddy rice harvested area peaked at X ha in 2019; however, from 2020 to 2021, the harvested area remained at a lower figure.

Paddy Rice Exports

Exports from Iraq

In 2021, the amount of paddy rice exported from Iraq skyrocketed to X tons, picking up by 614% on the year before. Overall, exports recorded a significant increase. The pace of growth was the most pronounced in 2013 with an increase of 797% against the previous year. The exports peaked in 2021 and are expected to retain growth in the immediate term.

In value terms, paddy rice exports skyrocketed to $X in 2021. Over the period under review, exports continue to indicate a significant expansion. The pace of growth was the most pronounced in 2013 when exports increased by 250% against the previous year. The exports peaked in 2021 and are likely to see steady growth in the near future.

Exports by Country

The UK (X tons) was the main destination for paddy rice exports from Iraq, accounting for a 98% share of total exports. It was followed by the Netherlands (X kg), with a 1.7% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of volume to the UK was relatively modest.

In value terms, the UK ($X) emerged as the key foreign market for paddy rice exports from Iraq, comprising 85% of total exports. The second position in the ranking was taken by the Netherlands ($X), with a 15% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to the UK was relatively modest.

Export Prices by Country

In 2021, the average paddy rice export price amounted to $X per ton, reducing by -57.9% against the previous year. In general, the export price continues to indicate a abrupt slump. The most prominent rate of growth was recorded in 2014 when the average export price increased by 22% against the previous year. The export price peaked at $X per ton in 2018; however, from 2019 to 2021, the export prices failed to regain momentum.

Prices varied noticeably country of destination: the country with the highest price was the Netherlands ($X per ton), while the average price for exports to the UK amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Egypt (-31.0%).

Paddy Rice Imports

Imports into Iraq

In 2021, imports of paddy rice into Iraq reduced dramatically to X tons, with a decrease of -34.8% compared with 2020 figures. Over the period under review, imports recorded a sharp setback. The pace of growth appeared the most rapid in 2020 when imports increased by 289% against the previous year. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, paddy rice imports shrank to $X in 2021. Overall, imports continue to indicate a abrupt shrinkage. The pace of growth appeared the most rapid in 2020 with an increase of 327%. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Russia (X tons) constituted the largest supplier of paddy rice to Iraq, with a 77% share of total imports. Moreover, paddy rice imports from Russia exceeded the figures recorded by the second-largest supplier, Kyrgyzstan (X tons), sixfold. The third position in this ranking was held by Turkey (X tons), with an 8.1% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Russia stood at -22.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Kyrgyzstan (-31.0% per year) and Turkey (+9.5% per year).

In value terms, Russia ($X), Turkey ($X) and Kyrgyzstan ($X) were the largest paddy rice suppliers to Iraq, with a combined 91% share of total imports. These countries were followed by Bahrain, which accounted for a further 3.5%.

In terms of the main suppliers, Bahrain, with a CAGR of +73.9%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

In 2021, the average paddy rice import price amounted to $X per ton, surging by 43% against the previous year. Overall, import price indicated a buoyant expansion from 2012 to 2021: its price increased at an average annual rate of +6.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, paddy rice import price increased by +56.5% against 2019 indices. 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, the country with the highest price was Turkey ($X per ton), while the price for Russia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Kyrgyzstan (+39.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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