Rice market in Eastern Asia

Earlier Report Observations

Rice production in Eastern Asia began a gradual decline from 2018, influenced by agricultural policies that reduced planting areas in key provinces such as Heilongjiang, where fallow subsidies encouraged farmers to take land out of cultivation. The minimum purchase price policy for rice contributed to market softness, keeping price increases in check. After a minor rebound in 2020, production levels remained below the initial 2018 volume.

Market volume reached a peak of 234.7 million metric tons in 2021 before contracting over the following two years. The downturn coincided with a significant reduction in state purchases under the minimum price scheme, which lowered the volume of rice entering official channels.

In 2023, the rice market size fell to 226.0 million metric tons. This occurred alongside a recovery in foodservice and institutional demand following the COVID-19 pandemic and improved logistics efficiency. The national minimum purchase price policy continued to provide a floor for farmer incomes, though its implementation was more targeted. Looking at 2024, the policy remained active with adjusted timelines, while demographic pressures and evolving retail patterns like community group buying began influencing long-term consumption trends.

Production rice in Eastern Asia

In kind, 2017-2020, M t

Top producers of rice, 2017-2020

World map of production of rice, 2017-2020

Following two consecutive years of decline, rice production in Eastern Asia increased. In 2020, the region produced 229.2 million tons of rice, showing only minor fluctuations compared to the previous year. The lowest production level was recorded in 2019 at 228.0 million tons, which represented a decline of 0.9%.

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

In value, 2017-2020, B $ US

After two years of decline, the value of rice production in Eastern Asia increased. In 2020, rice output was valued at 97.1 billion US dollars, marking a modest increase of 2.4% over the previous year. Over the 2017-2020 period, production value decreased by 30.5%, with a compound annual growth rate of -11.4%. The lowest value was recorded in 2019 at 94.9 billion US dollars, following the largest decline of 24.5% in 2018.

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

Exports rice from Eastern Asia

Exports in kind, K t

The data reveals irregular changes, indicating a volatile market environment. The lowest export volume was recorded in 2017, while the highest occurred in 2019, representing a 2.6-fold difference between these years. In 2020, Eastern Asia exported 2,398 thousand tons of rice, down 13.8% from 2019. The peak export volume was 2,782 thousand tons in 2019, following the largest increase of 100.6% in 2018.

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

During the 2017-2020 period, Côte d'Ivoire (13.4% of exports in volume), Egypt (10.1% of exports in volume), and Turkey (5.7% of exports in volume) were notable but not dominant buyers of rice from Eastern Asia, with their combined share reaching only 29.2% of total exports by volume.

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

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

Exports in value, M $ US

Following two years of growth, the value of rice exports from Eastern Asia declined. In 2020, export value reached 1,016 million US dollars, marking a notable decrease of 12.2% compared to 2019. Between 2017 and 2020, exports increased by 55.3%, equating to a compound annual growth rate of 15.8%. The highest export value was recorded in 2019 at 1,158 million US dollars, following the largest increase of 52.2% in 2018.

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

From 2017 to 2020, rice from Eastern Asia was supplied to a diverse range of markets. Côte d'Ivoire (9.2% of exports by value), Egypt (6.8% of exports by value), and Turkey (4.3% of exports by value) together accounted for only 20.3% of total export value, while numerous smaller destinations comprised the remaining 79.7%.

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

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

Imports rice to Eastern Asia

Imports in kind, K t

After two years of decline, rice import volumes in Eastern Asia increased. In 2020, the region imported approximately 4,526 thousand tons of rice, showing a robust increase of 15.9% compared to the previous year. Between 2017 and 2020, imports decreased by 18%, equating to a compound annual decline rate of 6.4%. The lowest import volume was recorded in 2019 at 3,904 thousand tons, which represented a decline of 16.0%.

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

During the 2017-2020 period, Vietnam (30.8% of imports by volume), Thailand (26.5% of imports by volume), and the United States (10.4% of imports by volume) continued to lead as suppliers of rice to Eastern Asia, jointly accounting for 67.8% of total imports by volume.

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

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

Imports in value, M $ US

Following two years of decline, rice import volumes in Eastern Asia increased. In 2020, imports reached 2,702 million US dollars, indicating a strong gain of 13.9% compared to 2019. Between 2017 and 2020, imports decreased by 2.8%, equating to a compound annual decline rate of 0.9%. The lowest import value was recorded in 2019 at 2,372 million US dollars, which represented a decline of 13.6%.

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

Over the 2017-2020 period, Thailand (28.3% of imports by value), Vietnam (27.1% of imports by value), and the United States (14.8% of imports by value) were the primary suppliers of rice to Eastern Asia, jointly accounting for 70.2% of total imports by value.

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

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