Southern Asia: Rice Market 2025

Rice Market Size in Southern Asia

For the third consecutive year, the South Asian rice market recorded growth in sales value, which increased by 1.3% to $X in 2021. The total consumption indicated a noticeable increase from 2012 to 2021: its value increased at an average annual rate of +4.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +51.4% against 2016 indices. The level of consumption peaked in 2021 and is expected to retain growth in the immediate term.

Rice Production in Southern Asia

In value terms, rice production shrank to $X in 2021 estimated in export price. Over the period under review, production recorded resilient growth. The most prominent rate of growth was recorded in 2017 with an increase of 58%. Over the period under review, production attained the peak level at $X in 2020, and then shrank modestly in the following year.

The country with the largest volume of rice production was India (X tons), comprising approx. 70% of total volume. Moreover, rice production in India exceeded the figures recorded by the second-largest producer, Bangladesh (X tons), threefold. The third position in this ranking was taken by Pakistan (X tons), with a 5% share.

In India, rice production increased at an average annual rate of +2.4% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Bangladesh (+1.3% per year) and Pakistan (+6.0% per year).

The average rice yield rose to X tons per ha in 2021, increasing by 1.6% on 2020. The yield figure increased at an average annual rate of +1.4% over the period from 2012 to 2021; the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. The growth pace was the most rapid in 2019 with an increase of 4.1%. The level of yield peaked in 2021 and is likely to see steady 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.

In 2021, the rice harvested area in Southern Asia expanded to X ha, growing by 3% on the previous year's figure. Overall, the harvested area recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 with an increase of 3.1%. The level of harvested area peaked in 2021 and is expected to retain growth in the near future.

Rice Exports

Exports in Southern Asia

In 2021, overseas shipments of rice increased by 36% to X tons, rising for the second year in a row after two years of decline. Total exports indicated a remarkable increase from 2012 to 2021: its volume increased at an average annual rate of +6.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +75.1% against 2019 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, rice exports skyrocketed to $X in 2021. The total export value increased at an average annual rate of +4.4% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2013 with an increase of 28%. Over the period under review, the exports hit record highs in 2021 and are expected to retain growth in the near future.

Exports by Country

In 2021, India (X tons) was the major exporter of rice, comprising 84% of total exports. It was distantly followed by Pakistan (X tons), mixing up a 16% share of total exports.

India was also the fastest-growing in terms of the rice exports, with a CAGR of +8.0% from 2012 to 2021. At the same time, Pakistan (+1.8%) displayed positive paces of growth. From 2012 to 2021, the share of India increased by +8.5 percentage points.

In value terms, India ($X) remains the largest rice supplier in Southern Asia, comprising 82% of total exports. The second position in the ranking was taken by Pakistan ($X), with an 18% share of total exports.

In India, rice exports increased at an average annual rate of +5.1% over the period from 2012-2021.

Export Prices by Country

In 2021, the export price in Southern Asia amounted to $X per ton, waning by -14.1% against the previous year. Overall, the export price showed a noticeable contraction. The most prominent rate of growth was recorded in 2013 when the export price increased by 18%. The level of export peaked at $X per ton in 2014; however, from 2015 to 2021, the export prices failed to regain momentum.

Average prices varied noticeably amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Pakistan ($X per ton), while India totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Pakistan (-0.3%).

Rice Imports

Imports in Southern Asia

In 2021, supplies from abroad of rice increased by 49% to X tons, rising for the second year in a row after two years of decline. Over the period under review, imports posted a prominent expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, rice imports surged to $X in 2021. In general, imports continue to indicate a resilient increase. The most prominent rate of growth was recorded in 2017 when imports increased by 46% against the previous year. Over the period under review, imports attained the maximum in 2021 and are likely to see steady growth in years to come.

Imports by Country

Bangladesh represented the main importer of rice in Southern Asia, with the volume of imports resulting at X tons, which was approx. 58% of total imports in 2021. Nepal (X tons) ranks second in terms of the total imports with a 30% share, followed by Afghanistan (7.1%). Sri Lanka (X tons) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Sri Lanka (with a CAGR of +17.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Bangladesh ($X) constitutes the largest market for imported rice in Southern Asia, comprising 58% of total imports. The second position in the ranking was taken by Nepal ($X), with a 26% share of total imports. It was followed by Afghanistan, with a 7.2% share.

In Bangladesh, rice imports increased at an average annual rate of +5.3% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Nepal (+18.7% per year) and Afghanistan (-2.3% per year).

Import Prices by Country

In 2021, the import price in Southern Asia amounted to $X per ton, reducing by -4.3% against the previous year. In general, the import price showed a pronounced reduction. The pace of growth was the most pronounced in 2016 an increase of 4%. The level of import peaked at $X per ton in 2012; however, from 2013 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 Sri Lanka ($X per ton), while Nepal ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Nepal (+2.9%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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