Slovakia: Rice Bran Market 2024

Rice Bran Market Size in Slovakia

In 2021, the Slovak rice bran market decreased by -6.6% to $X, falling for the sixth year in a row after four years of growth. Over the period under review, consumption showed a abrupt decrease. Rice bran consumption peaked at $X in 2015; however, from 2016 to 2021, consumption failed to regain momentum.

Rice Bran Production in Slovakia

In value terms, rice bran production declined to $X in 2021 estimated in export price. Overall, production continues to indicate a perceptible reduction. The most prominent rate of growth was recorded in 2020 when the production volume increased by 33% against the previous year. Over the period under review, production attained the maximum level at $X in 2013; however, from 2014 to 2021, production remained at a lower figure.

Rice Bran Exports

Exports from Slovakia

In 2021, exports of rice bran from Slovakia declined dramatically to X tons, falling by -19.1% compared with 2020. In general, exports, however, showed a strong increase. The most prominent rate of growth was recorded in 2020 when exports increased by 1,875%. As a result, the exports attained the peak of X tons, and then reduced dramatically in the following year.

In value terms, rice bran exports contracted to $X in 2021. Over the period under review, exports, however, showed tangible growth. The most prominent rate of growth was recorded in 2020 with an increase of 2,574% against the previous year. The exports peaked at $X in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

Exports by Country

Hungary (X tons) was the main destination for rice bran exports from Slovakia, with a 69% share of total exports. Moreover, rice bran exports to Hungary exceeded the volume sent to the second major destination, Austria (X tons), fivefold. Germany (X tons) ranked third in terms of total exports with a 6.6% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Hungary stood at +64.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Austria (-0.7% per year) and Germany (-6.2% per year).

In value terms, Hungary ($X) remains the key foreign market for rice bran exports from Slovakia, comprising 70% of total exports. The second position in the ranking was taken by Austria ($X), with a 12% share of total exports. It was followed by Germany, with an 8.8% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Hungary stood at +59.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Austria (-4.5% per year) and Germany (-8.4% per year).

Export Prices by Country

In 2021, the average rice bran export price amounted to $X per ton, picking up by 6.8% against the previous year. Overall, the export price, however, saw a abrupt descent. The most prominent rate of growth was recorded in 2020 an increase of 35%. Over the period under review, the average export prices hit record highs at $X per ton in 2013; however, from 2014 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was the Czech Republic ($X per ton), while the average price for exports to Poland ($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 Germany (-2.3%), while the prices for the other major destinations experienced a decline.

Rice Bran Imports

Imports into Slovakia

In 2021, the amount of rice bran imported into Slovakia skyrocketed to X tons, growing by 24% on the previous year. Over the period under review, imports continue to indicate a strong increase. The most prominent rate of growth was recorded in 2013 with an increase of 4,230% against the previous year. As a result, imports attained the peak of X tons. From 2014 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, rice bran imports reached $X in 2021. Overall, imports posted a resilient increase. The most prominent rate of growth was recorded in 2013 with an increase of 1,337%. Imports peaked at $X in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, the Czech Republic (X tons) constituted the largest supplier of rice bran to Slovakia, with a 86% share of total imports. Moreover, rice bran imports from the Czech Republic exceeded the figures recorded by the second-largest supplier, Germany (X tons), more than tenfold. The third position in this ranking was held by Poland (X tons), with a 3.5% share.

From 2012 to 2021, the average annual growth rate of volume from the Czech Republic stood at +21.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+90.6% per year) and Poland (+45.1% per year).

In value terms, the Czech Republic ($X), the Netherlands ($X) and Germany ($X) constituted the largest rice bran suppliers to Slovakia, with a combined 92% share of total imports.

Germany, with a CAGR of +100.8%, recorded the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average rice bran import price amounted to $X per ton, falling by -14.7% against the previous year. Overall, the import price saw a pronounced reduction. The pace of growth appeared the most rapid in 2014 when the average import price increased by 311% against the previous year. The import price peaked at $X per ton in 2017; however, from 2018 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the Netherlands ($X per ton), while the price for the Czech Republic ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Austria (+23.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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