Paddy rice market in Caribbean

Earlier Report Observations

The paddy rice market in the Caribbean underwent a significant contraction from 2018 to 2023, with total volume falling from 1 599 thousand tons to 1 134 thousand tons. This represents a decline of nearly 30%, underscoring a sustained downward trend over the period, primarily due to reduced domestic production.

The most pronounced decreases occurred in 2020 and 2023, where the market shrank by 133 thousand tons and 169 thousand tons, respectively. A brief reversal took place in 2021 with a modest increase of 28 thousand tons, but the overall downward trajectory quickly resumed, leading to the lowest observed market volume by 2023.

Production paddy rice in Caribbean

In kind, 2017-2020, K t

Top producers of paddy rice, 2017-2020

World map of production of paddy rice, 2017-2020

Caribbean's paddy rice production declined for the second year in a row. In 2020, the region produced 1 364 thousand tons, marking a 9.1% decrease from the previous year. Looking at the period from 2017 to 2020, production fell by 8.6%, which translates to an average annual decline of 2.9%. The highest production level was recorded in 2018 at 1 593 thousand tons, with the largest year-on-year increase of 6.8% also occurring that year.

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

Exports paddy rice from Caribbean

Exports in kind, t

The export market showed an unstable pattern over the observed period. Exports reached their lowest point in 2019 at 6 tons and peaked in 2018 at 36 tons, representing a 6.1-fold difference between these years. In 2020, paddy rice shipments from the Caribbean to foreign markets totaled 6 tons, reflecting a moderate year-over-year increase of 7.6%. The largest decline occurred in 2019 with an 83.5% drop, while the largest increase was in 2018 at 7.7%.

Annual dynamics of product's exports from Caribbean in kind, 2017-2020, t

From 2017 to 2020, the main buyers of paddy rice from the Caribbean were Venezuela, accounting for 38.7% of exports in kind, Suriname with 35.5%, and Bunkers at 8.8%. Together, these three markets represented 82.9% of total exports in kind.

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

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

Exports in value, K $ US

Caribbean's paddy rice exports in value terms declined for the third consecutive year. In 2020, exports amounted to 8 thousand US dollars, showing a moderate decrease of 4.8% compared to 2019. Over the period from 2017 to 2020, exports fell by 81.8%, which corresponds to an average annual decline of 43.3%.

Annual dynamics of product's exports from Caribbean in value, 2017-2020, K $ US

During 2017–2020, the three largest markets for Caribbean paddy rice exports in value terms were Venezuela, Suriname, and Bunkers. Together, they accounted for 79.4% of total export flows.

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

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

Imports paddy rice to Caribbean

Imports in kind, t

After two years of decline, Caribbean's paddy rice imports increased. In 2020, imports reached 9 205 tons, which is 58.3% higher than the previous year. From 2017 to 2020, imports decreased by 12.6%, equating to an average annual decline of 4.4%. The lowest import volume was recorded in 2019 at 5 814 tons, with the largest year-on-year decline of 40.4% occurring in 2018.

Annual dynamics of product's imports to Caribbean in kind, 2017-2020, t

Between 2017 and 2020, Suriname and Guyana were the dominant sources of paddy rice imports to the Caribbean in kind. Suriname accounted for 55.4% of total flows, while Guyana contributed 26.9%, together making up 82.4% of imports. Other partners supplied the remaining volume.

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

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

Imports in value, K $ US

Following a two-year decline, paddy rice imports to the Caribbean increased. In 2020, import value totaled 5 600 thousand US dollars, representing a sharp rise of 40.1% compared to 2019. Over the 2017-2020 period, imports decreased by 8.2%, with a compound annual growth rate of -2.8%. The lowest value was recorded in 2019 at 3 998 thousand US dollars, and the largest decline occurred in 2018 with a 29.2% drop.

Annual dynamics of product's imports to Caribbean in value, 2017-2020, K $ US

From 2017 to 2020, the United States, Suriname, and Guyana were the leading sources of paddy rice imports to the Caribbean in value terms. The United States accounted for 42.7% of imports, Suriname for 35.8%, and Guyana for 19.7%. Collectively, these three countries represented 98.2% of total import flows.

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

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