Uruguay: Paddy Rice Market 2024

Paddy Rice Market Size in Uruguay

The Uruguayan paddy rice market shrank slightly to $X in 2021, stabilizing at the previous year. Over the period under review, consumption, however, showed a pronounced decrease. The pace of growth was the most pronounced in 2020 with an increase of 8.8% against the previous year. Paddy rice consumption peaked at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Paddy Rice Production in Uruguay

In value terms, paddy rice production reduced to $X in 2021 estimated in export price. Over the period under review, production continues to indicate a deep downturn. The most prominent rate of growth was recorded in 2020 with an increase of 13%. Over the period under review, production reached the peak level at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

In 2021, the average yield of paddy rice in Uruguay reduced to X tons per ha, dropping by -2% against the previous year. In general, the yield, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 with an increase of 7.9%. As a result, the yield reached the peak level of X tons per ha. From 2016 to 2021, the growth of the average paddy rice yield remained at a somewhat lower figure. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2021, the total area harvested in terms of paddy rice production in Uruguay totaled X ha, increasing by 1.7% compared with 2020 figures. Overall, the harvested area, however, continues to indicate a perceptible curtailment. The pace of growth was the most pronounced in 2017 with an increase of 2% against the previous year. Over the period under review, the harvested area dedicated to paddy rice production reached the maximum at X ha in 2012; however, from 2013 to 2021, the harvested area remained at a lower figure.

Paddy Rice Exports

Exports from Uruguay

In 2021, shipments abroad of paddy rice decreased by -22.8% to X tons, falling for the second year in a row after two years of growth. In general, exports, however, continue to indicate pronounced growth. The pace of growth appeared the most rapid in 2019 with an increase of 229%. As a result, the exports attained the peak of X tons. From 2020 to 2021, the growth of the exports remained at a lower figure.

In value terms, paddy rice exports dropped to $X in 2021. Overall, exports, however, recorded tangible growth. The most prominent rate of growth was recorded in 2019 when exports increased by 210%. The exports peaked at $X in 2020, and then declined in the following year.

Exports by Country

Venezuela (X tons), Mexico (X tons) and Brazil (X tons) were the main destinations of paddy rice exports from Uruguay, with a combined 100% share of total exports.

From 2012 to 2021, the biggest increases were in Mexico (with a CAGR of +28.4%), while shipments for the other leaders experienced a decline.

In value terms, Venezuela ($X), Mexico ($X) and Brazil ($X) appeared to be the largest markets for paddy rice exported from Uruguay worldwide, with a combined 100% share of total exports.

Among the main countries of destination, Mexico, with a CAGR of +43.6%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

The average paddy rice export price stood at $X per ton in 2021, increasing by 17% against the previous year. Over the period under review, the export price, however, recorded a slight decrease. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

Average prices varied somewhat for the major export markets. In 2021, the country with the highest price was Brazil ($X per ton), while the average price for exports to Mexico ($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 Mexico (+11.8%), while the prices for the other major destinations experienced more modest paces of growth.

Paddy Rice Imports

Imports into Uruguay

After two years of growth, purchases abroad of paddy rice decreased by -61.6% to X tons in 2021. Over the period under review, imports recorded a abrupt decrease. The pace of growth appeared the most rapid in 2016 with an increase of 256%. Over the period under review, imports reached the peak figure at X tons in 2013; however, from 2014 to 2021, imports failed to regain momentum.

In value terms, paddy rice imports fell sharply to $X in 2021. In general, imports saw a noticeable decrease. The growth pace was the most rapid in 2016 with an increase of 584%. Over the period under review, imports hit record highs at $X in 2013; however, from 2014 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, the United States (X tons) constituted the largest paddy rice supplier to Uruguay, with a 68% share of total imports. Moreover, paddy rice imports from the United States exceeded the figures recorded by the second-largest supplier, Argentina (X tons), threefold. Brazil (X tons) ranked third in terms of total imports with a 7.7% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from the United States totaled +133.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Argentina (-23.1% per year) and Brazil (-22.8% per year).

In value terms, the United States ($X) constituted the largest supplier of paddy rice to Uruguay, comprising 76% of total imports. The second position in the ranking was held by Argentina ($X), with a 13% share of total imports. It was followed by Brazil, with an 8.7% share.

From 2012 to 2021, the average annual rate of growth in terms of value from the United States stood at +122.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Argentina (-21.4% per year) and Brazil (-12.6% per year).

Import Prices by Country

In 2021, the average paddy rice import price amounted to $X per ton, picking up by 7.7% against the previous year. Overall, the import price continues to indicate a buoyant increase. The most prominent rate of growth was recorded in 2016 an increase of 92%. As a result, import price attained the peak level of $X per ton. From 2017 to 2021, the average import prices remained at a somewhat lower figure.

Prices varied noticeably country of origin: the country with the highest price was Australia ($X per ton), while the price for Argentina ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Brazil (+13.2%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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