Milled rice and broken rice market in Western Asia

Earlier Report Observations

The market for milled and broken rice in Western Asia expanded from 5.3 million tons in 2018 to nearly 6.9 million tons in 2020, with the value rising from $4.9 billion to $6.0 billion. This initial growth period was supported by stable prices in late 2018, coinciding with a main harvest that exceeded expectations, ensuring consistent supply.

Market volume contracted in 2021 to 5.9 million tons, a decrease of 13%, while the market value fell by 18% to $4.9 billion. This downturn interrupted the previous expansion, though no specific disruptive events were highlighted for the year.

A strong recovery followed in 2022, with volume reaching 7.1 million tons and value climbing to $6.0 billion. By 2023, volume stabilized at 7.2 million tons, but the market value jumped 15% to $6.9 billion. This significant price increase was driven by a severe drought affecting major Asian rice producers and India's imposition of export restrictions on white and brown rice, which tightened global supply. Furthermore, conflicts in West Asia raised chemical fertilizer costs, adding pressure to production expenses.

Production milled rice and broken rice in Western Asia

In kind, 2017-2020, K t

Top producers of milled rice and broken rice, 2017-2020

World map of production of milled rice and broken rice, 2017-2020

Milled rice and broken rice production in Western Asia has increased for the second year in a row. In 2020, the region produced 1,341 thousand tons, marking a significant year-over-year growth of 19.8%. Looking at the period from 2017 to 2020, production rose by 43.8%, which translates to an annualized rate of 12.9%. The lowest production level was recorded in 2018 at 712 thousand tons, with the largest decline that year of 23.7%. In contrast, the biggest increase occurred in 2019, when production jumped by 57.2%.

Annual dynamics of production in Western Asia in kind, 2017-2020, K t

In value, 2017-2020, M $ US

In 2020, the output of milled rice and broken rice in Western Asia was valued at 1,589 million US dollars, showing a slight decrease of 1.0% compared to the previous year. Over the 2017-2020 period, production value increased by 40.1%, with a compound annual growth rate of 11.9%. The minimum value was recorded in 2018 at 971 million US dollars, while the maximum was in 2019 at 1,605 million US dollars. The largest decline happened in 2018, dropping by 14.4%, whereas the largest increase was in 2019, surging by 65.3%.

Annual dynamics of production in Western Asia in value, 2017-2020, M $ US

Exports milled rice and broken rice from Western Asia

Exports in kind, K t

After a two-year decline, Western Asia's exports of milled rice and broken rice have increased. In 2020, the region exported 170 thousand tons, representing a notable gain of 18.3% compared to 2019. However, from 2017 to 2020, exports decreased by 55.7%, which equates to an annualized rate of 23.8%. The lowest export volume was in 2019 at 144 thousand tons, with the largest decline that year of 53.2%.

Annual dynamics of product's exports from Western Asia in kind, 2017-2020, K t

From 2017 to 2020, the largest buyers of milled rice and broken rice from Western Asia were Iran, accounting for 25.0% of exports in kind, Libya with 9.2%, and Sudan at 2.1%. Together, these three countries made up 36.3% of total exports in kind, indicating a diversified export structure with no single dominant market.

Structure of product's exports in kind by countries, 2017-2020

World map of product's exports from Western Asia in kind, 2017-2020

Exports in value, M $ US

Milled rice and broken rice deliveries from Western Asia have declined for the third consecutive year. In 2020, export value reached 201 million US dollars, falling by 2.3% compared to 2019. Over the 2017-2020 period, exports decreased by 56.9%, with a compound annual growth rate of -24.4%.

Annual dynamics of product's exports from Western Asia in value, 2017-2020, M $ US

Between 2017 and 2020, milled rice and broken rice from Western Asia was traded with numerous countries. Even the top destinations—Iran, Libya, and the United States—collectively represented only 44.5% of total exports in value terms, highlighting a broad and varied export market.

Structure of product's exports in value by countries, 2017-2020

World map of product's exports from Western Asia in value, 2017-2020

Imports milled rice and broken rice to Western Asia

Imports in kind, K t

Imported volumes of milled rice and broken rice in Western Asia have increased for the second year in a row. In 2020, the region imported 5,701 thousand tons, showing a modest rise of 7.2% compared to 2019. From 2017 to 2020, imports grew by 9.2%, equating to an annualized rate of 3.0%. The lowest import volume was in 2018 at 4,904 thousand tons, with the largest decline that year of 6.1%. The biggest increase occurred in 2019, when imports rose by 8.5%.

Annual dynamics of product's imports to Western Asia in kind, 2017-2020, K t

From 2017 to 2020, the leading sources for imports in kind were India, accounting for 59.5% of imports, Pakistan with 6.6%, and Thailand at 6.3%. Together, these three countries represented 72.4% of total import flows, showing a concentrated supply structure.

Structure of product's imports in kind by countries, 2017-2020

World map of product's imports to Western Asia in kind, 2017-2020

Imports in value, M $ US

Milled rice and broken rice deliveries to Western Asia have increased for the third consecutive year. In 2020, the region imported 4,564 million US dollars worth of these products, equivalent to a gradual increase of 4.4% compared to the previous year. Over the 2017-2020 period, imports increased by 11.5%, with a compound annual growth rate of 3.7%.

Annual dynamics of product's imports to Western Asia in value, 2017-2020, M $ US

Over the 2017-2020 period, the top suppliers of milled rice and broken rice to Western Asia in value terms were India, with 65.8% of imports, Pakistan at 6.9%, and the United States with 6.1%. Their combined share reached 78.8% of total imports in value terms, indicating a high level of concentration among key suppliers.

Structure of product's imports in value by countries, 2017-2020

World map of product's imports to Western Asia in value, 2017-2020