MENA: Rice Bran Market 2024

Rice Bran Market Size in MENA

The MENA's rice bran market contracted rapidly to $X in 2021, which is down by -16% against the previous year. Overall, consumption, however, enjoyed a prominent increase. Over the period under review, the market hit record highs at $X in 2020, and then dropped dramatically in the following year.

Rice Bran Production in MENA

In value terms, rice bran production contracted to $X in 2021 estimated in export price. Over the period under review, production saw a resilient expansion. The growth pace was the most rapid in 2018 with an increase of 63%. Over the period under review, production attained the peak level at $X in 2020, and then dropped in the following year.

Rice Bran Exports

Exports in MENA

In 2021, the amount of rice bran exported in MENA rose markedly to X tons, picking up by 12% against the year before. Overall, exports enjoyed resilient growth. The pace of growth appeared the most rapid in 2016 when exports increased by 226% against the previous year. The volume of export peaked in 2021 and is expected to retain growth in the near future.

In value terms, rice bran exports declined slightly to $X in 2021. In general, exports enjoyed a strong expansion. The pace of growth appeared the most rapid in 2018 with an increase of 256% against the previous year. Over the period under review, the exports hit record highs at $X in 2020, and then shrank slightly in the following year.

Exports by Country

The United Arab Emirates was the key exporter of rice bran in MENA, with the volume of exports resulting at X tons, which was approx. 87% of total exports in 2021. It was distantly followed by Turkey (X tons), committing a 12% share of total exports.

The United Arab Emirates was also the fastest-growing in terms of the rice bran exports, with a CAGR of +63.2% from 2012 to 2021. Turkey (-11.5%) illustrated a downward trend over the same period. The United Arab Emirates (+84 p.p.) significantly strengthened its position in terms of the total exports, while Turkey saw its share reduced by -73.8% from 2012 to 2021, respectively.

In value terms, the United Arab Emirates ($X) remains the largest rice bran supplier in MENA, comprising 96% of total exports. The second position in the ranking was taken by Turkey ($X), with a 3.2% share of total exports.

In the United Arab Emirates, rice bran exports expanded at an average annual rate of +72.1% over the period from 2012-2021.

Export Prices by Country

The export price in MENA stood at $X per ton in 2021, falling by -14.5% against the previous year. Export price indicated noticeable growth from 2012 to 2021: its price increased at an average annual rate of +3.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, rice bran export price increased by +102.4% against 2017 indices. The growth pace was the most rapid in 2018 an increase of 76%. Over the period under review, the export prices attained the maximum at $X per ton in 2020, and then dropped in the following year.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while Turkey amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+5.4%).

Rice Bran Imports

Imports in MENA

Rice bran imports contracted significantly to X tons in 2021, waning by -21.7% on 2020 figures. Total imports indicated a noticeable increase from 2012 to 2021: its volume increased at an average annual rate of +3.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +41.3% against 2019 indices. The most prominent rate of growth was recorded in 2020 with an increase of 81% against the previous year. As a result, imports attained the peak of X tons, and then reduced notably in the following year.

In value terms, rice bran imports contracted to $X in 2021. The total import value increased at an average annual rate of +1.6% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2020 with an increase of 60%. As a result, imports reached the peak of $X, and then fell in the following year.

Imports by Country

Turkey represented the major importing country with an import of about X tons, which finished at 67% of total imports. Morocco (X tons) held an 18% share (based on physical terms) of total imports, which put it in second place, followed by Oman (5.2%) and Israel (5%). The United Arab Emirates (X tons) and Kuwait (X tons) followed a long way behind the leaders.

Turkey experienced a relatively flat trend pattern with regard to volume of imports of rice bran. At the same time, Morocco (+63.4%), Kuwait (+43.9%), Israel (+28.0%) and the United Arab Emirates (+21.8%) displayed positive paces of growth. Moreover, Morocco emerged as the fastest-growing importer imported in MENA, with a CAGR of +63.4% from 2012-2021. Oman experienced a relatively flat trend pattern. Morocco (+17 p.p.), Israel (+4.3 p.p.), the United Arab Emirates (+2.2 p.p.) and Kuwait (+1.7 p.p.) significantly strengthened its position in terms of the total imports, while Oman and Turkey saw its share reduced by -1.8% and -20.5% from 2012 to 2021, respectively.

In value terms, Turkey ($X) constitutes the largest market for imported rice bran in MENA, comprising 70% of total imports. The second position in the ranking was taken by Morocco ($X), with a 15% share of total imports. It was followed by Oman, with a 7.4% share.

In Turkey, rice bran imports remained relatively stable over the period from 2012-2021. In the other countries, the average annual rates were as follows: Morocco (+68.9% per year) and Oman (+7.4% per year).

Import Prices by Country

The import price in MENA stood at $X per ton in 2021, surging by 20% against the previous year. In general, the import price, however, showed a mild curtailment. The level of import peaked at $X per ton in 2013; however, from 2014 to 2021, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Oman ($X per ton), while Israel ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Oman (+7.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform