Global Rice Market 2025

Rice Market Size

In 2021, the global rice market increased by 1.5% to $X, rising for the second year in a row after two years of decline. Overall, consumption, however, recorded a mild curtailment. The pace of growth appeared the most rapid in 2017 when the market value increased by 3.5% against the previous year. Over the period under review, the global market attained the maximum level at $X in 2014; however, from 2015 to 2021, consumption failed to regain momentum.

Rice Production

In value terms, rice production fell to $X in 2021 estimated in export price. Over the period under review, production, however, showed a noticeable descent. The pace of growth appeared the most rapid in 2017 when the production volume increased by 5.1%. Global production peaked at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

The countries with the highest volumes of production in 2021 were China (X tons), India (X tons) and Bangladesh (X tons), with a combined 59% share of global production. Indonesia, Vietnam, Thailand, Myanmar, the Philippines and Pakistan lagged somewhat behind, together accounting for a further 24%.

From 2012 to 2021, the biggest increases were recorded for Pakistan (with a CAGR of +6.0%), while production for the other global leaders experienced more modest paces of growth.

The global average rice yield amounted to X tons per ha in 2021, almost unchanged from 2020. In general, the yield saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 with an increase of 1.3%. Over the period under review, the average rice yield reached the maximum level in 2021 and is likely to see steady growth in years to come. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

The global rice harvested area totaled X ha in 2021, approximately reflecting 2020. In general, the harvested area saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 with an increase of 1.6%. Over the period under review, the harvested area dedicated to rice production reached the peak figure in 2021 and is expected to retain growth in the near future.

Rice Exports

Exports

In 2021, overseas shipments of rice increased by 10% to X tons, rising for the second year in a row after two years of decline. The total export volume increased at an average annual rate of +2.8% from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2017 with an increase of 13% against the previous year. Over the period under review, the global exports hit record highs in 2021 and are likely to see steady growth in the near future.

In value terms, rice exports expanded to $X in 2021. The total export value increased at an average annual rate of +1.5% from 2012 to 2021; the trend pattern remained consistent, with somewhat noticeable fluctuations in certain years. The pace of growth was the most pronounced in 2017 when exports increased by 17%. The global exports peaked in 2021 and are likely to see gradual growth in years to come.

Exports by Country

In 2021, India (X tons) was the largest exporter of rice, comprising 40% of total exports. Thailand (X tons) took a 12% share (based on physical terms) of total exports, which put it in second place, followed by Vietnam (11%), Pakistan (7.4%), the United States (6.3%) and China (4.6%). Myanmar (X tons) took a relatively small share of total exports.

From 2012 to 2021, average annual rates of growth with regard to rice exports from India stood at +8.0%. At the same time, China (+26.6%), Myanmar (+7.3%) and Pakistan (+1.8%) displayed positive paces of growth. Moreover, China emerged as the fastest-growing exporter exported in the world, with a CAGR of +26.6% from 2012-2021. Thailand experienced a relatively flat trend pattern. By contrast, the United States (-1.2%) and Vietnam (-3.6%) illustrated a downward trend over the same period. While the share of India (+14 p.p.) and China (+3.9 p.p.) increased significantly in terms of the global exports from 2012-2021, the share of the United States (-2.7 p.p.), Thailand (-4.5 p.p.) and Vietnam (-8.4 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X) remains the largest rice supplier worldwide, comprising 35% of global exports. The second position in the ranking was held by Thailand ($X), with a 12% share of global exports. It was followed by Vietnam, with an 11% share.

In India, rice exports increased at an average annual rate of +5.1% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: Thailand (-3.4% per year) and Vietnam (-2.2% per year).

Export Prices by Country

The average rice export price stood at $X per ton in 2021, declining by -5.8% against the previous year. Over the period under review, the export price showed a slight slump. The pace of growth was the most pronounced in 2013 when the average export price increased by 8.2% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2014 to 2021, the average export prices failed to regain momentum.

Average prices varied somewhat amongst the major exporting countries. In 2021, major exporting countries recorded the following prices: in the United States ($X per ton) and Thailand ($X per ton), while Myanmar ($X per ton) and China ($X per ton) were 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 global leaders experienced mixed trends in the export price figures.

Rice Imports

Imports

In 2021, global imports of rice expanded rapidly to X tons, growing by 8.7% compared with the previous year's figure. The total import volume increased at an average annual rate of +3.3% over the period from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 when imports increased by 16%. Global imports peaked in 2021 and are expected to retain growth in years to come.

In value terms, rice imports expanded modestly to $X in 2021. The total import value increased at an average annual rate of +1.1% over the period from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. The pace of growth appeared the most rapid in 2017 with an increase of 16%. Global imports peaked in 2021 and are expected to retain growth in years to come.

Imports by Country

In 2021, China (X tons), followed by Bangladesh (X tons) and the Philippines (X tons) represented the main importers of rice, together achieving 20% of total imports. Senegal (X tons), Iraq (X tons), Cote d'Ivoire (X tons), Benin (X tons), Nepal (X tons), Mozambique (X tons), Saudi Arabia (X tons), Malaysia (X tons), Cameroon (X tons) and South Africa (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 Mozambique (with a CAGR of +15.3%), while imports for the other global leaders experienced more modest paces of growth.

In value terms, the largest rice importing markets worldwide were China ($X), the Philippines ($X) and Saudi Arabia ($X), with a combined 17% share of global imports. These countries were followed by Bangladesh, Iraq, Benin, Cote d'Ivoire, Malaysia, South Africa, Senegal, Nepal, Cameroon and Mozambique, which together accounted for a further 22%.

Nepal, with a CAGR of +18.7%, recorded the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average rice import price amounted to $X per ton, reducing by -4.8% against the previous year. Overall, the import price saw a noticeable decline. The most prominent rate of growth was recorded in 2018 when the average import price increased by 7.8% against the previous year. Global 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 importing countries. In 2021, amid the top importers, the country with the highest price was Saudi Arabia ($X per ton), while Mozambique ($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 global leaders experienced more modest paces of growth.

Source: IndexBox Platform

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