Spain: Rice Bran Market 2024

Rice Bran Market Size in Spain

After three years of growth, the Spanish rice bran market decreased by -1.4% to $X in 2021. Overall, the total consumption indicated tangible growth from 2012 to 2021: its value increased at an average annual rate of +3.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +73.4% against 2017 indices. Over the period under review, the market attained the maximum level at $X in 2020, and then shrank in the following year.

Rice Bran Production in Spain

In value terms, rice bran production dropped slightly to $X in 2021 estimated in export price. Over the period under review, the total production indicated perceptible growth from 2012 to 2021: its value increased at an average annual rate of +2.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +94.5% against 2017 indices. The most prominent rate of growth was recorded in 2018 with an increase of 45%. Over the period under review, production hit record highs at $X in 2014; however, from 2015 to 2021, production stood at a somewhat lower figure.

Rice Bran Exports

Exports from Spain

In 2021, shipments abroad of rice bran decreased by -8.7% to X tons for the first time since 2018, thus ending a two-year rising trend. In general, exports showed a perceptible setback. The pace of growth appeared the most rapid in 2020 with an increase of 244% against the previous year. The exports peaked at X tons in 2015; however, from 2016 to 2021, the exports stood at a somewhat lower figure.

In value terms, rice bran exports contracted dramatically to $X in 2021. Over the period under review, exports showed a relatively flat trend pattern. The growth pace was the most rapid in 2020 when exports increased by 341%. The exports peaked at $X in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

Exports by Country

Portugal (X tons) and France (X tons) were the main destinations of rice bran exports from Spain.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by France (with a CAGR of +7.4%).

In value terms, Portugal ($X) and France ($X) appeared to be the largest markets for rice bran exported from Spain worldwide.

France, with a CAGR of +8.5%, saw the highest growth rate of the value of exports, among the main countries of destination over the period under review.

Export Prices by Country

The average rice bran export price stood at $X per ton in 2021, waning by -7.5% against the previous year. Over the period under review, export price indicated a notable increase from 2012 to 2021: its price increased at an average annual rate of +3.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, rice bran export price increased by +63.9% against 2016 indices. The most prominent rate of growth was recorded in 2018 an increase of 46%. Over the period under review, the average export prices attained the maximum at $X per ton in 2020, and then declined in the following year.

Average prices varied noticeably for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was France ($X per ton), while the average price for exports to Portugal stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Portugal (+3.3%).

Rice Bran Imports

Imports into Spain

For the fourth year in a row, Spain recorded growth in purchases abroad of rice bran, which increased by 35% to X tons in 2021. In general, imports continue to indicate buoyant growth. The most prominent rate of growth was recorded in 2020 when imports increased by 52%. Imports peaked in 2021 and are likely to see gradual growth in the immediate term.

In value terms, rice bran imports skyrocketed to $X in 2021. Overall, imports recorded a relatively flat trend pattern. The growth pace was the most rapid in 2020 with an increase of 95% against the previous year. Imports peaked at $X in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Portugal (X tons), Italy (X tons) and France (X tons) were the main suppliers of rice bran imports to Spain, with a combined 98% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Portugal (with a CAGR of +42.8%), while imports for the other leaders experienced mixed trend patterns.

In value terms, Portugal ($X), Italy ($X) and France ($X) were the largest rice bran suppliers to Spain, together comprising 90% of total imports.

Among the main suppliers, Portugal, with a CAGR of +50.1%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

In 2021, the average rice bran import price amounted to $X per ton, growing by 29% against the previous year. Over the period under review, the import price, however, showed a deep downturn. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Germany ($X per ton), while the price for Italy ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Portugal (+5.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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