Rice market in Chile

Earlier Report Observations

The Chilean rice market volume fluctuated between 2018 and 2020, starting from 369.3 thousand tons. A high sown area of 29.5 thousand hectares in the 2017/2018 season supported domestic production initially. The market then contracted to 341.3 thousand tons in 2019 before recovering to 380.7 thousand tons in 2020.

A sustained decline followed, with the market volume falling to 334.6 thousand tons in 2021 and 296.8 thousand tons in 2022. This downturn was driven by a significant reduction in the area sown for rice, which dropped to 23 thousand hectares in 2021 and fell a further 10% to 20.7 thousand hectares in 2022, curtailing national output. Global factors including the COVID-19 pandemic, the Ukraine conflict, and climate change increased costs for agricultural inputs and oil, while adverse weather in major Asian producer countries like China and Thailand constrained world supply. Concurrently, high domestic inflation, with consumer prices rising 8.5% in 2022, pressured local demand. The market rebounded to 323.3 thousand tons in 2023.

International and domestic rice prices continued their upward trend into 2024, with the FAO price index rising 19.7% between mid-2022 and 2024. Chile's high reliance on imports, which supplied 73% of consumption, underscored ongoing efforts to develop new rice varieties and production systems for long-term viability.

Production rice in Chile

In kind, 2018-2021, K t

Top producers of rice, 2018-2021

World map of production of rice, 2018-2021

Chile's rice production has declined for the third year in a row. In 2021, the country produced 146.1 thousand tons of rice, marking a significant decrease of 13.9% compared to the previous year. From 2018 to 2021, production fell by 24.2%, which translates to an average annual decline of 8.8%.

Annual dynamics of production in Chile in kind, 2018-2021, K t

In value, 2018-2021, M $ US

Chile's rice production has declined for the third consecutive year. In 2021, the value of rice output was 143.8 million US dollars, representing a sharp drop of 24.5% from 2020. Between 2018 and 2021, production decreased by 47.6%, equivalent to an annualized rate of 19.4%.

Annual dynamics of production in Chile in value, 2018-2021, M $ US

Exports rice from Chile

Exports in kind, K t

Chile's rice exports have fallen for the third year running. In 2021, the country exported 0.2 thousand tons of rice, which is an 18.4% decrease compared to 2020. From 2018 to 2021, exports plummeted by 95%, with an average annual decline of 63.3%.

Annual dynamics of product's exports from Chile in kind, 2018-2021, K t

From 2018 to 2021, Venezuela remained the primary destination for Chile's rice exports, accounting for 85.2% of total exports in volume. Other markets played a much smaller role during this period.

Structure of product's exports in kind by countries, 2018-2021

World map of product's exports from Chile in kind, 2018-2021

Exports in value, M $ US

Rice exports from Chile have declined for the third year in a row. In 2021, exports reached 0.2 million US dollars, showing a drop of 28.4% compared to the previous year. Over the period from 2018 to 2021, exports decreased by 96.6%, with an average annual decline of 67.5%.

Annual dynamics of product's exports from Chile in value, 2018-2021, M $ US

From 2018 to 2021, nearly all of Chile's rice exports in value terms were directed to Venezuela, which accounted for 91.7% of total flows.

Structure of product's exports in value by countries, 2018-2021

World map of product's exports from Chile in value, 2018-2021

Imports rice to Chile

Imports in kind, K t

Chile imported 188.8 thousand tons of rice in 2021, reflecting a decrease of 10.6% compared to the previous year. Over the period from 2018 to 2021, imports increased by 4.3%, with an average annual growth rate of 1.4%. The lowest volume was recorded in 2019 at 169.7 thousand tons, while the peak occurred in 2020 with 211.3 thousand tons. The largest increase was seen in 2020, at 24.5%.

Annual dynamics of product's imports to Chile in kind, 2018-2021, K t

From 2018 to 2021, Argentina and Paraguay were the dominant sources for Chile's rice imports in volume, jointly accounting for 81.6% of total flows. The remaining imports were distributed among smaller markets.

Structure of product's imports in kind by countries, 2018-2021

World map of product's imports to Chile in kind, 2018-2021

Imports in value, M $ US

In 2021, the value of rice imports into Chile totaled 106.6 million US dollars, down by 2.4% relative to the prior year. From 2018 to 2021, imports increased by 20.2%, with an average annual growth rate of 6.3%. The lowest value was recorded in 2019 at 79.7 million US dollars, while the highest was in 2020 at 109.2 million US dollars. The largest decline occurred in 2019, at 10.1%, and the largest increase was in 2020, at 37.0%.

Annual dynamics of product's imports to Chile in value, 2018-2021, M $ US

From 2018 to 2021, Argentina, Paraguay, and Uruguay were the leading sources for Chile's rice imports in value terms, with shares of 48.1%, 28.8%, and 8.4%, respectively. Together, they accounted for 85.3% of total import flows.

Structure of product's imports in value by countries, 2018-2021

World map of product's imports to Chile in value, 2018-2021