Latin America and the Caribbean: Milled Rice Market 2020

Milled Rice Market Size in Latin America and the Caribbean

For the third consecutive year, the Latin American milled rice market recorded growth in sales value, which increased by X% to $X in 2019. The market value increased at an average annual rate of +X% from 2007 to 2019; the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. The pace of growth was the most pronounced in 2008 with an increase of X% year-to-year. The level of consumption peaked in 2019 and is expected to retain growth in the immediate term.

Milled Rice Production in Latin America and the Caribbean

In value terms, milled rice production rose slightly to $X in 2019 estimated in export prices. The total output value increased at an average annual rate of +X% from 2007 to 2019; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed in certain years. The pace of growth appeared the most rapid in 2008 with an increase of X% y-o-y. Over the period under review, production reached the maximum level in 2019 and is likely to see steady growth in years to come.

Brazil (X tons) remains the largest milled rice producing country in Latin America and the Caribbean, accounting for X% of total volume. Moreover, milled rice production in Brazil exceeded the figures recorded by the second-largest producer, Peru (X tons), threefold. Colombia (X tons) ranked third in terms of total production with a X% share.

From 2007 to 2019, the average annual growth rate of volume in Brazil was relatively modest. In the other countries, the average annual rates were as follows: Peru (+X% per year) and Colombia (+X% per year).

The average milled rice yield rose modestly to X tons per ha in 2019, picking up by X% against 2018. The yield figure increased at an average annual rate of +X% over the period from 2007 to 2019; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed in certain years. The growth pace was the most rapid in 2011 with an increase of X% against the previous year. The level of yield peaked in 2019 and is likely to see steady growth in years to come. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2019, the milled rice harvested area in Latin America and the Caribbean contracted to X ha, approximately equating the year before. Overall, the harvested area showed a mild decrease. The most prominent rate of growth was recorded in 2009 with an increase of X% y-o-y. As a result, the harvested area reached the peak level of X ha. From 2010 to 2019, the growth of the milled rice harvested area remained at a lower figure.

Production By Country in Latin America and the Caribbean

Brazil (X tons) constituted the country with the largest volume of milled rice production, accounting for X% of total volume. Moreover, milled rice production in Brazil exceeded the figures recorded by the second-largest producer, Peru (X tons), threefold. Colombia (X tons) ranked third in terms of total production with a X% share.

From 2007 to 2019, the average annual rate of growth in terms of volume in Brazil was relatively modest. In the other countries, the average annual rates were as follows: Peru (+X% per year) and Colombia (+X% per year).

Milled Rice Exports

Exports in Latin America and the Caribbean

For the fourth consecutive year, LatAmerica and the Caribbean recorded growth in shipments abroad of milled rice, which increased by X% to X tons in 2019. The total export volume increased at an average annual rate of +X% over the period from 2007 to 2019; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2009 when exports increased by X% against the previous year. The volume of export peaked at X tons in 2014; afterwards, it flattened through to 2019.

In value terms, milled rice exports totaled $X in 2019. Total exports indicated a temperate expansion from 2007 to 2019: its value increased at an average annual rate of +X% over the last twelve years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2019 figures, exports increased by +X% against 2015 indices. The pace of growth appeared the most rapid in 2008 when exports increased by X% against the previous year. The level of export peaked at $X in 2013; however, from 2014 to 2019, exports remained at a lower figure.

Exports by Country

The shipments of the three major exporters of milled rice, namely Uruguay, Brazil and Paraguay, represented more than two-thirds of total export. Argentina (X tons) occupied a X% share (based on tons) of total exports, which put it in second place, followed by Guyana (X%). Suriname (X tons) held a relatively small share of total exports.

From 2007 to 2019, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Paraguay, while exports for the other leaders experienced more modest paces of growth.

In value terms, the largest milled rice supplying countries in Latin America and the Caribbean were Uruguay ($X), Brazil ($X) and Paraguay ($X), with a combined X% share of total exports.

Paraguay recorded 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

In 2019, the milled rice export price in Latin America and the Caribbean amounted to $X per ton, remaining constant against the previous year. Overall, the export price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2008 an increase of X% against the previous year. As a result, export price attained the peak level of $X per ton. From 2009 to 2019, the growth in terms of the export prices failed to regain the momentum.

Average prices varied somewhat amongst the major exporting countries. In 2019, major exporting countries recorded the following prices: in Uruguay ($X per ton) and Guyana ($X per ton), while Paraguay ($X per ton) and Suriname ($X per ton) were amongst the lowest.

From 2007 to 2019, the most notable rate of growth in terms of prices was attained by Uruguay, while the other leaders experienced mixed trends in the export price figures.

Milled Rice Imports

Imports in Latin America and the Caribbean

In 2019, the amount of milled rice imported in Latin America and the Caribbean totaled X tons, picking up by X% against 2018 figures. In general, imports recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 when imports increased by X% year-to-year. Over the period under review, imports hit record highs at X tons in 2017; however, from 2018 to 2019, imports remained at a lower figure.

In value terms, milled rice imports totaled $X in 2019. The total import value increased at an average annual rate of +X% over the period from 2007 to 2019; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2008 when imports increased by X% year-to-year. Over the period under review, imports attained the peak figure at $X in 2017; however, from 2018 to 2019, imports stood at a somewhat lower figure.

Imports by Country

Brazil (X tons) and Haiti (X tons) represented roughly X% of total imports of milled rice in 2019. Peru (X tons) held the next position in the ranking, followed by Venezuela (X tons), Chile (X tons) and Mexico (X tons). All these countries together occupied near X% share of total imports. Jamaica (X tons) took a relatively small share of total imports.

From 2007 to 2019, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Venezuela, while imports for the other leaders experienced more modest paces of growth.

In value terms, Haiti ($X), Brazil ($X) and Peru ($X) constituted the countries with the highest levels of imports in 2019, with a combined X% share of total imports.

Among the main importing countries, Peru saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2019, the milled rice import price in Latin America and the Caribbean amounted to $X per ton, flattening at the previous year. Over the last twelve years, it increased at an average annual rate of +X%. The pace of growth appeared the most rapid in 2008 an increase of X% against the previous year. As a result, import price attained the peak level of $X per ton. From 2009 to 2019, the growth in terms of the import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2019, the country with the highest price was Mexico ($X per ton), while Brazil ($X per ton) was amongst the lowest.

From 2007 to 2019, the most notable rate of growth in terms of prices was attained by Haiti, while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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