Rice market in Asia

Earlier Report Observations

The Asian rice market volume showed mixed movements from 2018 to 2020. A slight decline to 670.0 million tons occurred in 2019, primarily due to adverse weather conditions that hampered production in several regions. The market rebounded to 683.2 million tons in 2020, supported by the expansion of ready-to-eat rice-based meal segments from major fast-food chains, which increased consumer demand during the pandemic.

Market growth strengthened in 2021, with volume rising to 706.6 million tons, driven by growing consumer preference for organic and specialty rice varieties linked to health and sustainability trends. However, volume contracted to 692.4 million tons in 2022 as price volatility stemming from the war in Ukraine disrupted global cereal supply and demand. The market resumed expansion in 2023, reaching 714.9 million tons.

Production rice in Asia

In kind, 2017-2020, M t

Top producers of rice, 2017-2020

World map of production of rice, 2017-2020

In 2020, Asia produced 690 million tons of rice, marking a slight improvement of 1.7% compared to 2019. Over the period from 2017 to 2020, production increased by 3.6%, which translates to an annualized growth rate of 1.2%. The largest decline occurred in 2019, with a drop of 1.3%, while the largest increase was recorded in 2018, at 3.3%.

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

In value, 2017-2020, B $ US

In 2020, the output of rice in Asia was valued at 455.7 billion US dollars, up by 1.5% from the previous year. Between 2017 and 2020, production decreased by 3.6%, equating to an annualized decline of 1.2%. The minimum value was recorded in 2019 at 448.8 billion US dollars, and the maximum value was in 2018 at 495.9 billion US dollars. The largest decline occurred in 2019, with a drop of 9.5%, while the largest increase was in 2018, at 4.9%.

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

Exports rice from Asia

Exports in kind, K t

In 2020, Asia exported 17 080 thousand tons of rice, indicating a small rise of 1.5% relative to the prior year. The minimum value was recorded in 2019 at 16 834 thousand tons, and the maximum value was in 2018 at 18 147 thousand tons. The largest decline occurred in 2019, with a drop of 7.2%, while the largest increase was in 2018, at 5.7%.

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

The analysis of exports in kind from 2017 to 2020 shows a broad distribution across many markets. Benin accounted for 6.0% of exports in kind, Côte d'Ivoire for 4.6%, and South Africa for 3.3%. Together, these three countries represented only 13.9% of total flows, with the remaining 86.1% falling on other partners.

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

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

Exports in value, M $ US

In 2020, exported rice volumes from Asia amounted to 11 280 million US dollars, up by 1.3% compared to the previous year. Over the period from 2017 to 2020, exports decreased by 7.5%, with a compound annual growth rate (CAGR) of -2.6%. The minimum value was recorded in 2019 at 11 136 million US dollars, and the maximum value was in 2018 at 13 085 million US dollars. The largest decline occurred in 2019, with a drop of 14.9%, while the largest increase was in 2018, at 7.3%.

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

From 2017 to 2020, exports in value terms were distributed across a wide set of partner countries. Benin accounted for 4.6% of exports in value terms, the United States for 4.1%, and Côte d'Ivoire for 3.6%. Together, these three countries jointly accounted for just 12.4% of total flows.

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

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

Imports rice to Asia

Imports in kind, K t

In 2020, cross-border shipments of rice to Asia came to 10 187 thousand tons, which is 22.8% greater compared to 2019. The minimum value was recorded in 2019 at 8 293 thousand tons, and the maximum value was in 2018 at 12 374 thousand tons. The largest decline occurred in 2019, with a drop of 33.0%.

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

From 2017 to 2020, the United States accounted for 4.6% of imports in kind, Uruguay for 0.6%, and Australia for 0.6%. These three countries continued to be the main suppliers of rice to Asia, jointly forming 5.8% of total imports in kind.

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

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

Imports in value, M $ US

In 2020, Asia imported approximately 11 360 million US dollars of rice, representing a 0.6% uptick over the past year. The maximum value was recorded in 2018 at 12 677 million US dollars. The largest decline occurred in 2019, with a drop of 10.9%, while the largest increase was in 2018, at 12.6%.

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

Over the period from 2017 to 2020, the United States accounted for 5.9% of imports in value terms, Australia for 0.9%, and Uruguay for 0.5%. These three countries consistently occupied leading positions in the country structure of imports in value terms, jointly accounting for 7.3% of total flows.

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

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