Japan: Rice Market 2024

Rice Market Size in Japan

After two years of growth, the Japanese rice market decreased by -8.8% to $X in 2021. The market value increased at an average annual rate of +3.9% over the period from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market hit record highs at $X in 2020, and then fell in the following year.

Rice Production in Japan

In value terms, rice production fell to $X in 2021 estimated in export price. Overall, the total production indicated a resilient expansion from 2012 to 2021: its value increased at an average annual rate of +5.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +31.9% against 2018 indices. The most prominent rate of growth was recorded in 2016 when the production volume increased by 51%. Over the period under review, production reached the peak level at $X in 2020, and then declined in the following year.

The average yield of rice in Japan rose slightly to X tons per ha in 2021, growing by 4.7% compared with 2020 figures. In general, the yield continues to indicate slight growth. As a result, the yield attained the peak level 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 Japan declined slightly to X ha in 2021, which is down by -4% on 2020. Over the period under review, the harvested area saw a mild decline. The growth pace was the most rapid in 2013 when the harvested area increased by 0.3% against the previous year. As a result, the harvested area reached the peak level of X ha. From 2014 to 2021, the growth of the rice harvested area failed to regain momentum.

Rice Exports

Exports from Japan

In 2021, shipments abroad of rice was finally on the rise to reach X tons after two years of decline. Over the period under review, exports, however, showed a abrupt descent. The growth pace was the most rapid in 2018 when exports increased by 51%. Over the period under review, the exports reached the maximum at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, rice exports rose rapidly to $X in 2021. Overall, exports enjoyed a notable increase. The most prominent rate of growth was recorded in 2018 when exports increased by 32%. The exports peaked in 2021 and are likely to continue growth in the immediate term.

Exports by Country

Mauritania (X tons), Hong Kong SAR (X tons) and Singapore (X tons) were the main destinations of rice exports from Japan, with a combined 50% share of total exports. These countries were followed by Gambia, Haiti, Democratic Republic of the Congo, the United States, Benin, Taiwan (Chinese), Sao Tome and Principe, Niger, Burkina Faso and Australia, which together accounted for a further 41%.

From 2012 to 2021, the biggest increases were recorded for the United States (with a CAGR of +52.5%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Hong Kong SAR ($X) remains the key foreign market for rice exports from Japan, comprising 28% of total exports. The second position in the ranking was taken by Singapore ($X), with a 13% share of total exports. It was followed by Mauritania, with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Hong Kong SAR totaled +20.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Singapore (+15.2% per year) and Mauritania (+3.8% per year).

Export Prices by Country

The average rice export price stood at $X per ton in 2021, approximately equating the previous year. Overall, the export price continues to indicate a prominent increase. The growth pace was the most rapid in 2016 an increase of 48% against the previous year. Over the period under review, the average export prices reached the maximum in 2021 and is expected to retain growth in the immediate term.

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 Australia ($X per ton), while the average price for exports to Gambia ($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 Niger (+6.3%), while the prices for the other major destinations experienced more modest paces of growth.

Rice Imports

Imports into Japan

In 2021, approx. X tons of rice were imported into Japan; which is down by -2.3% compared with 2020. Overall, imports, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 with an increase of 9.8%. As a result, imports reached the peak of X tons. From 2014 to 2021, the growth of imports remained at a lower figure.

In value terms, rice imports rose slightly to $X in 2021. The total import value increased at an average annual rate of +1.2% over the period from 2012 to 2021; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2018 when imports increased by 37%. Over the period under review, imports reached the peak figure in 2021 and are expected to retain growth in the near future.

Imports by Country

The United States (X tons), Thailand (X tons) and China (X tons) were the main suppliers of rice imports to Japan, together comprising 98% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Thailand (with a CAGR of +3.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) constituted the largest supplier of rice to Japan, comprising 59% of total imports. The second position in the ranking was held by Thailand ($X), with a 28% share of total imports. It was followed by China, with an 11% share.

From 2012 to 2021, the average annual growth rate of value from the United States stood at +3.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (+1.2% per year) and China (+0.6% per year).

Import Prices by Country

The average rice import price stood at $X per ton in 2021, with an increase of 5.7% against the previous year. In general, the import price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the average import price increased by 38% against the previous year. Over the period under review, average import prices hit record highs in 2021 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 Australia ($X per ton), while the price for Thailand ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Australia (+4.4%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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