Rice market in ASEAN

Earlier Report Observations

The ASEAN rice market volume declined from 189.5 million tons in 2018 to 181.4 million tons in 2020, before recovering to 185.4 million tons by 2023. In value terms, the market contracted from $132.3 billion to $114.2 billion over the same two-year period, then rebounded to $134.5 billion in 2023.

In 2024, regional rice imports surged to 9.0 million tons, driven by increased purchases among ASEAN member states and global supply constraints. India's ongoing export ban created a worldwide shortage, supporting high prices and stimulating import demand within the region. Exports from ASEAN remained elevated at 14.8 million tons, supported by Vietnam's record shipments.

The market saw a shift towards higher-quality rice segments, with Vietnamese companies exporting low-emission rice to Japan. Governments in the region, such as Cambodia and Vietnam, actively promoted rice exports through trade agreements and brand-building initiatives to capture value in premium markets.

Production rice in ASEAN

In kind, 2017-2020, M t

Top producers of rice, 2017-2020

World map of production of rice, 2017-2020

ASEAN's rice production has declined for the second year in a row. In 2019, production remained almost flat at 190.9 million tonnes, showing little change from the previous year. The highest production was recorded in 2018 at 200.6 million tonnes, which represented a 4.5% increase. However, in 2019, production saw its largest decline of 4.5%.

Annual dynamics of production in ASEAN in kind, 2017-2020, M t

Exports rice from ASEAN

Exports in kind, K t

After two years of decline, ASEAN's rice exports increased in 2020, reaching 12 571 thousand tonnes. This marked a controlled improvement of 7.9% compared to 2019. Over the period from 2017 to 2020, exports decreased by 32.4%, averaging an annual decline of 12.2%. The lowest export volume was recorded in 2019 at 11 651 thousand tonnes, with the largest single-year decline occurring in 2018 at 25.7%.

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

From 2017 to 2020, ASEAN's rice exports were relatively evenly distributed among various partners. China accounted for 15.2% of exports in kind, Benin for 7.6%, and South Africa for 4.6%. Together, these three countries represented just 27.4% of total export flows, indicating no single dominant market.

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

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

Exports in value, M $ US

In 2020, ASEAN's rice exports in value terms amounted to 7 890 million US dollars, a 5.9% increase from the previous year. Over the 2017-2020 period, exports decreased by 14.8%, with a compound annual growth rate of -5.2%. The lowest value was recorded in 2019 at 7 449 million US dollars, while the peak was in 2018 at 9 602 million US dollars. The largest decline occurred in 2019, falling by 22.4%.

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

Between 2017 and 2020, the distribution of ASEAN's rice exports by value remained scattered. China accounted for 17.6% of exports in value terms, Benin for 5.8%, and the United States for 5.1%. Combined, these three partners represented only 28.5% of total flows, with no single country emerging as clearly dominant.

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

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

Imports rice to ASEAN

Imports in kind, K t

ASEAN's rice imports showed noticeable fluctuations during this period. In 2019, imports reached their lowest point at 1 527 thousand tonnes, declining by 43.2%. By 2020, imports rebounded to 3 058 thousand tonnes, reflecting a significant year-over-year gain of 100.2%. Overall, import volumes varied by a factor of two between the low in 2019 and the high in 2020.

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

From 2017 to 2020, the main suppliers of rice to ASEAN in kind were India, accounting for 9.0% of imports, Pakistan with 7.7%, and China with 1.5%. Together, these three countries comprised 18.3% of total imports in kind.

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

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

Imports in value, M $ US

ASEAN's rice imports in value terms displayed volatility over the observed period. In 2017, imports hit their minimum at 2 238 million US dollars, while they peaked in 2018 at 2 538 million US dollars, representing a 2.1-fold increase. In 2020, imports were recorded at 2 238 million US dollars, showing a moderate increase of 4.8% from the previous year. The largest decline occurred in 2019, falling by 15.8%, whereas the largest increase was in 2018, rising by 113.3%.

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

Over the 2017-2020 period, India, Pakistan, and China were the main sources of ASEAN's rice imports in value terms. India accounted for 10.3% of imports, Pakistan for 6.6%, and China for 2.4%. Together, these three countries absorbed 19.3% of total import value.

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

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