Rice market in South America, 2026

Earlier Report Observations

From 2018 to 2019, the South American rice market volume declined from 23 119 thousand tons to 21 425 thousand tons. This contraction was primarily driven by a continued reduction in planted area in Brazil, as low profitability compared to crops like soybeans discouraged planting, compounded by adverse weather conditions that hampered yields. In 2020, the market saw a modest recovery to 21 972 thousand tons, but remained constrained by the COVID-19 pandemic's disruption, which tightened supplies and pushed prices higher, alongside a reported 8.51% national decrease in sown area in Brazil due to persistent cost pressures.

Market volume rebounded strongly to 24 053 thousand tons in 2021, supported by robust external demand for Brazilian rice which incentivized production, despite severe droughts in Argentina limiting output in parts of the region. This growth was sharply reversed in 2022, with the market falling to 20 974 thousand tons. Brazil recorded its smallest harvest in 26 years at an estimated 10.2 million tons, severely impacted by extreme weather and high production costs, while concurrent droughts and wildfires in Argentina further reduced regional supply.

In 2023, the market volume increased to 21 776 thousand tons, though it remained below pre-2021 levels. Brazilian production continued to face headwinds from unfavorable climatic conditions and rising input costs, limiting recovery. Meanwhile, the Argentine domestic market experienced surprising growth, with rising per capita consumption contributing to demand, even as the industry remained concentrated among large-scale producers.

Production rice in South America

In kind, 2017-2020, K t

Top producers of rice, 2017-2020

World map of production of rice, 2017-2020

South America's rice production rebounded in 2020 after two years of contraction. The region produced 24 925 thousand tonnes of rice that year, marking a modest year-on-year increase of 7.6%. However, looking at the broader period from 2017 to 2020, production actually declined by 3.1%, which translates to an average annual decrease of 1.1%. The lowest production level was recorded in 2019 at 23 156 thousand tonnes, with the largest annual decline of 7.4% also occurring that year.

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

In value, 2017-2020, M $ US

South America's rice production value showed a recovery in 2020 following two years of decline. The output was valued at 12 578 million US dollars that year, representing a modest uptick of 3.2% compared to 2019. Over the four-year period from 2017 to 2020, however, production value fell by 14.6%, equivalent to an annualized decrease of 5.1%. The lowest value was recorded in 2019 at 12 190 million US dollars, while the largest annual decline of 12.3% occurred in 2018.

Annual dynamics of production in South America in value, 2017-2020, M $ US

Exports rice from South America

Exports in kind, K t

South America's rice exports surged in 2020, with cross-border shipments reaching 3 975 thousand tonnes. This represented a substantial increase of 49.0% compared to the previous year. Over the 2017-2020 period, exports grew by 75%, with a compound annual growth rate of 20.5%. The only decline during this period was recorded in 2019, when exports fell by 5.6%.

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

Between 2017 and 2020, South America's rice exports were quite diversified across destinations. The top three markets - Mexico (5.5% of exports), Senegal (5.0%), and Iraq (4.4%) - together accounted for just 14.8% of total export volumes, indicating that no single destination dominated the trade flows.

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

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

Exports in value, M $ US

South America's rice export value experienced significant growth in 2020, reaching 2 006 million US dollars. This represented a sharp increase of 42.8% compared to 2019. Over the 2017-2020 period, export value rose by 54.3%, with a compound annual growth rate of 15.5%. The only decline during this period occurred in 2019, when export value dropped by 3.8%.

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

From 2017 to 2020, South America's rice exports were distributed across numerous trading partners. Even the three largest destinations - Mexico, Iraq, and Senegal - collectively represented only 14.6% of total export value, demonstrating the region's diversified export market structure.

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

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

Imports rice to South America

Imports in kind, K t

South America's rice imports continued to grow for the second consecutive year in 2020. The region imported 1 022 thousand tonnes of rice that year, which was 9.1% higher than in 2019. However, looking at the broader 2017-2020 period, imports actually decreased by 19.5%, equivalent to an annualized decline of 7.0%. The lowest import volume was recorded in 2018 at 931 thousand tonnes, with the largest annual decrease of 26.6% also occurring that year.

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

Between 2017 and 2020, the United States was South America's leading supplier of rice, accounting for 13.7% of import volumes. Thailand followed with 1.3%, and India with 0.8%. Together, these three suppliers represented 15.8% of total rice imports to the region during this period.

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

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

Imports in value, M $ US

South America's rice import value increased for the second year in a row in 2020, reaching 1 199 million US dollars. This represented a significant rise of 33.5% compared to the previous year. Over the 2017-2020 period, import value grew by 37.2%, with a compound annual growth rate of 11.1%. The lowest value was recorded in 2018 at 804 million US dollars, while the largest annual decline of 8.0% also occurred that year.

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

Throughout the 2017-2020 period, the United States remained South America's primary source of rice imports in value terms, accounting for 13.3% of the total. Thailand contributed 1.5%, and Italy 0.8%. These three partners together represented 15.6% of South America's total rice import value during this timeframe.

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

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