Latin America and the Caribbean: Rice Bran Market 2024

Rice Bran Market Size in Latin America and the Caribbean

In 2021, the Latin American rice bran market increased by 14% to $X, rising for the second year in a row after three years of decline. In general, consumption recorded a relatively flat trend pattern. The level of consumption peaked at $X in 2013; however, from 2014 to 2021, consumption stood at a somewhat lower figure.

Rice Bran Production in Latin America and the Caribbean

In value terms, rice bran production amounted to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.0% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2016 with an increase of 39% against the previous year. The level of production peaked at $X in 2013; however, from 2014 to 2021, production stood at a somewhat lower figure.

Rice Bran Exports

Exports in Latin America and the Caribbean

After two years of growth, overseas shipments of rice bran decreased by -37.8% to X tons in 2021. Overall, exports saw a pronounced slump. The growth pace was the most rapid in 2016 when exports increased by 19%. As a result, the exports reached the peak of X tons. From 2017 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, rice bran exports fell notably to $X in 2021. Over the period under review, exports recorded a deep setback. The most prominent rate of growth was recorded in 2016 when exports increased by 40% against the previous year. As a result, the exports reached the peak of $X. From 2017 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

The shipments of the three major exporters of rice bran, namely Paraguay, Argentina and Uruguay, represented more than two-thirds of total export. It was distantly followed by Brazil (X tons), achieving a 5.1% share of total exports. Honduras (X tons) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Honduras (with a CAGR of +10.3%), while the other leaders experienced more modest paces of growth.

In value terms, the largest rice bran supplying countries in Latin America and the Caribbean were Paraguay ($X), Brazil ($X) and Argentina ($X), together comprising 75% of total exports.

Brazil, with a CAGR of +16.3%, 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 Latin America and the Caribbean stood at $X per ton in 2021, growing by 12% against the previous year. Over the period under review, the export price, however, continues to indicate a mild contraction. The pace of growth appeared the most rapid in 2016 when the export price increased by 18%. The level of export peaked at $X per ton in 2013; however, from 2014 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Brazil ($X per ton), while Uruguay ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Brazil (+9.7%), while the other leaders experienced a decline in the export price figures.

Rice Bran Imports

Imports in Latin America and the Caribbean

In 2021, approx. X tons of rice bran were imported in Latin America and the Caribbean; reducing by -14.3% against 2020 figures. Overall, imports showed a drastic downturn. The pace of growth was the most pronounced in 2019 with an increase of 7.4% against the previous year. The volume of import peaked at X tons in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, rice bran imports declined to $X in 2021. Over the period under review, imports recorded a drastic downturn. The most prominent rate of growth was recorded in 2019 with an increase of 5.1%. Over the period under review, imports reached the maximum at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Argentina (X tons) and Mexico (X tons) were the key importers of rice bran in Latin America and the Caribbean, together reaching near 68% of total imports. Uruguay (X tons) held a 16% share (based on physical terms) of total imports, which put it in second place, followed by Honduras (8.4%). The following importers - Guatemala (X tons) and Colombia (X tons) - each accounted for a 3.7% share of total imports.

From 2012 to 2021, the biggest increases were recorded for Guatemala (with a CAGR of +56.4%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Mexico ($X) constitutes the largest market for imported rice bran in Latin America and the Caribbean, comprising 50% of total imports. The second position in the ranking was taken by Uruguay ($X), with a 16% share of total imports. It was followed by Honduras, with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Mexico stood at -13.5%. The remaining importing countries recorded the following average annual rates of imports growth: Uruguay (-1.7% per year) and Honduras (+22.5% per year).

Import Prices by Country

The import price in Latin America and the Caribbean stood at $X per ton in 2021, growing by 6% against the previous year. Over the period under review, the import price, however, showed a mild decline. The pace of growth appeared the most rapid in 2015 an increase of 10%. As a result, import price attained the peak level of $X per ton. From 2016 to 2021, the import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Colombia ($X per ton), while Argentina ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Honduras (+7.9%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :