South-Eastern Asia: Rice Market 2025

Rice Market Size in South-Eastern Asia

The Southeast Asian rice market reached $X in 2021, growing by 5.4% against the previous year. In general, consumption, however, continues to indicate a mild contraction. Over the period under review, the market hit record highs at $X in 2013; however, from 2014 to 2021, consumption stood at a somewhat lower figure.

Rice Production in South-Eastern Asia

In value terms, rice production reached $X in 2021 estimated in export price. Over the period under review, production, however, saw a noticeable decline. The growth pace was the most rapid in 2017 with an increase of 15%. The level of production peaked at $X in 2013; however, from 2014 to 2021, production failed to regain momentum.

The countries with the highest volumes of production in 2021 were Indonesia (X tons), Vietnam (X tons) and Thailand (X tons), together accounting for 68% of total production. Myanmar, the Philippines, Cambodia and Lao People's Democratic Republic lagged somewhat behind, together accounting for a further 31%.

From 2012 to 2021, the most notable rate of growth in terms of production, amongst the main producing countries, was attained by Cambodia (with a CAGR of +2.3%), while production for the other leaders experienced more modest paces of growth.

The average rice yield expanded slightly to X tons per ha in 2021, with an increase of 1.5% against 2020. Over the period under review, the yield recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of 1.8%. Over the period under review, the rice yield hit record highs at X tons per ha in 2015; afterwards, it flattened through to 2021. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2021, approx. X ha of rice were harvested in South-Eastern Asia; almost unchanged from the previous year. In general, the harvested area, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2017 when the harvested area increased by 2.1% against the previous year. The level of harvested area peaked at X ha in 2012; however, from 2013 to 2021, the harvested area failed to regain momentum.

Rice Exports

Exports in South-Eastern Asia

For the fourth year in a row, South-Eastern Asia recorded decline in overseas shipments of rice, which decreased by -3.5% to X tons in 2021. Over the period under review, exports continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 with an increase of 27% against the previous year. The volume of export peaked at X tons in 2017; however, from 2018 to 2021, the exports failed to regain momentum.

In value terms, rice exports dropped to $X in 2021. Overall, exports showed a mild curtailment. The pace of growth was the most pronounced in 2017 when exports increased by 19%. Over the period under review, the exports hit record highs at $X in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Thailand (X tons) and Vietnam (X tons) represented roughly 82% of total exports in 2021. It was distantly followed by Myanmar (X tons), generating a 12% share of total exports. Cambodia (X tons) took a relatively small share of total exports.

From 2012 to 2021, the biggest increases were recorded for Cambodia (with a CAGR of +13.9%), while shipments for the other leaders experienced mixed trends in the exports figures.

In value terms, Thailand ($X), Vietnam ($X) and Myanmar ($X) appeared to be the countries with the highest levels of exports in 2021, with a combined 93% share of total exports. Cambodia lagged somewhat behind, comprising a further 5.6%.

Cambodia, with a CAGR of +13.1%, 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

The export price in South-Eastern Asia stood at $X per ton in 2021, falling by -4.4% against the previous year. Over the period under review, the export price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the export price increased by 11% against the previous year. Over the period under review, the export prices attained the maximum at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Cambodia ($X per ton), while Myanmar ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Vietnam (+1.5%), while the other leaders experienced a decline in the export price figures.

Rice Imports

Imports in South-Eastern Asia

In 2021, supplies from abroad of rice was finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. Total imports indicated mild growth from 2012 to 2021: its volume increased at an average annual rate of +1.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -7.1% against 2018 indices. The most prominent rate of growth was recorded in 2018 when imports increased by 110% against the previous year. As a result, imports reached the peak of X tons. From 2019 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, rice imports expanded significantly to $X in 2021. In general, imports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when imports increased by 104%. As a result, imports reached the peak of $X. From 2019 to 2021, the growth of imports remained at a lower figure.

Imports by Country

In 2021, the Philippines (X tons) represented the main importer of rice, mixing up 50% of total imports. Malaysia (X tons) held a 23% share (based on physical terms) of total imports, which put it in second place, followed by Indonesia (12%) and Singapore (7.7%). The following importers - Timor-Leste (X tons) and Vietnam (X tons) - each recorded a 4.2% share of total imports.

The Philippines was also the fastest-growing in terms of the rice imports, with a CAGR of +10.4% from 2012 to 2021. At the same time, Timor-Leste (+5.5%), Vietnam (+5.5%) and Malaysia (+1.0%) displayed positive paces of growth. Singapore experienced a relatively flat trend pattern. By contrast, Indonesia (-11.4%) illustrated a downward trend over the same period. While the share of the Philippines (+27 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Indonesia (-28 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the Philippines ($X) constitutes the largest market for imported rice in South-Eastern Asia, comprising 49% of total imports. The second position in the ranking was held by Malaysia ($X), with a 23% share of total imports. It was followed by Indonesia, with an 11% share.

From 2012 to 2021, the average annual growth rate of value in the Philippines totaled +12.2%. In the other countries, the average annual rates were as follows: Malaysia (-1.0% per year) and Indonesia (-13.0% per year).

Import Prices by Country

The import price in South-Eastern Asia stood at $X per ton in 2021, therefore, remained relatively stable against the previous year. In general, the import price, however, showed a mild shrinkage. The pace of growth was the most pronounced in 2020 an increase of 14%. Over the period under review, import prices attained the maximum at $X per ton in 2013; however, from 2014 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Philippines (+1.7%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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