MERCOSUR: Rice Market 2024

Rice Market Size in MERCOSUR

For the third year in a row, the MERCOSUR rice market recorded growth in sales value, which increased by 0.3% to $X in 2021. The market value increased at an average annual rate of +1.5% over the period from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations in certain years. The level of consumption peaked at $X in 2015; however, from 2016 to 2021, consumption remained at a lower figure.

Rice Production in MERCOSUR

In value terms, rice production declined modestly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.6% from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2013 with an increase of 21%. The level of production peaked at $X in 2015; however, from 2016 to 2021, production remained at a lower figure.

Brazil (X tons) remains the largest rice producing country in MERCOSUR, comprising approx. 45% of total volume. Moreover, 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 13% share.

From 2012 to 2021, 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 (+1.5% per year) and Colombia (+4.1% per year).

The average rice yield expanded slightly to X tons per ha in 2021, growing by 4.5% on 2020. The yield figure increased at an average annual rate of +2.5% from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2015 when the yield increased by 7.1%. The level of yield peaked in 2021 and is expected to retain growth in the near future. 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 dropped modestly to X ha in 2021, flattening at 2020 figures. Overall, the harvested area saw a mild decrease. The pace of growth appeared the most rapid in 2017 with an increase of 3.8% against the previous year. Over the period under review, the harvested area dedicated to rice production attained the peak figure at X ha in 2013; however, from 2014 to 2021, the harvested area failed to regain momentum.

Rice Exports

Exports in MERCOSUR

In 2021, the amount of rice exported in MERCOSUR contracted significantly to X tons, falling by -29.6% on 2020. In general, exports recorded a slight shrinkage. The pace of growth appeared the most rapid in 2018 with an increase of 33%. The volume of export peaked at X tons in 2020, and then fell rapidly in the following year.

In value terms, rice exports declined significantly to $X in 2021. Over the period under review, exports continue to indicate a pronounced downturn. The pace of growth was the most pronounced in 2020 with an increase of 34%. Over the period under review, the exports reached the peak figure at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

In 2021, Brazil (X tons), Uruguay (X tons) and Paraguay (X tons) represented the key exporter of rice in MERCOSUR, achieving 74% of total export. Guyana (X tons) ranks next in terms of the total exports with a 14% share, followed by Argentina (9.7%). Suriname (X tons) held a little share of total exports.

From 2012 to 2021, the biggest increases were recorded for Paraguay (with a CAGR of +10.4%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest rice supplying countries in MERCOSUR were Uruguay ($X), Brazil ($X) and Paraguay ($X), with a combined 72% share of total exports.

Paraguay, with a CAGR of +9.8%, 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 mixed trends in the exports figures.

Export Prices by Country

In 2021, the export price in MERCOSUR amounted to $X per ton, jumping by 15% against the previous year. Over the period under review, the export price, however, showed a mild decline. 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.

Average prices varied somewhat amongst the major exporting countries. In 2021, major exporting countries recorded the following prices: in Argentina ($X per ton) and Uruguay ($X per ton), while Paraguay ($X per ton) and Brazil ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Argentina (+0.5%), while the other leaders experienced a decline in the export price figures.

Rice Imports

Imports in MERCOSUR

After three years of growth, purchases abroad of rice decreased by -17.6% to X tons in 2021. In general, imports, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 with an increase of 21%. The volume of import peaked at X tons in 2020, and then contracted remarkably in the following year.

In value terms, rice imports fell to $X in 2021. Over the period under review, imports recorded a relatively flat trend pattern. The growth pace was the most rapid in 2020 when imports increased by 21% against the previous year. As a result, imports reached the peak of $X, and then reduced in the following year.

Imports by Country

Brazil (X tons) and Venezuela (X tons) were the key importers of rice in 2021, amounting to approx. 37% and 33% of total imports, respectively. Peru (X tons) took a 12% share (based on physical terms) of total imports, which put it in second place, followed by Chile (9.3%) and Colombia (9%).

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Chile (with a CAGR of +4.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Brazil ($X), Venezuela ($X) and Peru ($X) constituted the countries with the highest levels of imports in 2021, with a combined 81% share of total imports. These countries were followed by Chile and Colombia, which together accounted for a further 19%.

Chile, with a CAGR of +4.1%, 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 mixed trends in the imports figures.

Import Prices by Country

The import price in MERCOSUR stood at $X per ton in 2021, increasing by 4.7% against the previous year. In general, the import price, however, showed a slight reduction. The growth pace was the most rapid in 2020 an increase of 8.9%. The level of import peaked at $X per ton in 2014; however, from 2015 to 2021, import prices remained at a lower figure.

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 Peru ($X per ton), while Colombia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Peru (+0.8%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform