Rice market in Suriname

Earlier Report Observations

From 2018 to 2023, Suriname's rice market showed significant volatility. Production began at 274 thousand tons in 2018 and held steady in 2019, but domestic market volume fell during this period as exports grew. The global COVID-19 pandemic in 2020 disrupted supply chains, contributing to a production drop to 250 thousand tons and shrinking the market to 191 thousand tons.

A partial recovery in 2021 was followed by a sharp production decline to 184 thousand tons in 2022, coinciding with a worldwide rice shortage that drove up prices and likely strained input costs and trade. Market volume contracted to 142 thousand tons. In 2023, production rebounded to 229 thousand tons amidst the continued tight global supply situation, helping market volume recover to 190 thousand tons.

Production rice in Suriname

In kind, 2017-2020, K t

Top producers of rice, 2017-2020

World map of production of rice, 2017-2020

In 2020, Suriname produced 249.8 thousand tons of rice, marking a modest decline of 8.9% compared to 2019. Over the 2017-2020 period, production decreased by 13.7%, with a compound annual growth rate of 4.8%. The largest increase occurred in 2019, at 0.1%.

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

In value, 2017-2020, M $ US

Following a two-year decrease, rice production in Suriname increased. In 2020, the output of rice was valued at 115.4 million US dollars, up by 16.7% compared to the previous year. The minimum value was recorded in 2019 at 98.9 million US dollars, while the largest decline occurred in 2018, at 10.7%.

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

Exports rice from Suriname

Exports in kind, t

In 2020, rice volumes exported from Suriname amounted to 59 321 tons, representing a controlled decrease of 7.1% compared to the previous year. Over the 2017-2020 period, exports decreased by 23.3%, with a compound annual growth rate of 8.4%. The minimum value was recorded in 2018 at 46 236 tons, which also saw the largest decline of 40.2%. The largest increase occurred in 2019, at 38.1%.

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

From 2017 to 2020, Jamaica, Portugal, and France stood out as the main markets for Suriname's rice exports in kind. Jamaica accounted for 53.0% of exports, Portugal for 17.6%, and France for 7.5%, together representing 78.1% of total export flows.

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

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

Exports in value, K $ US

Suriname's rice export value increased for the second consecutive year. In 2020, the export volume amounted to 27 404 thousand US dollars, reflecting a robust advance of 19.0% compared to the previous year. Between 2017 and 2020, exports decreased by 9.7%, equating to an annualized rate of 3.4%. The minimum value was recorded in 2018 at 17 137 thousand US dollars, which also saw the largest decline of 43.5%. The largest increase occurred in 2019, at 34.3%.

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

From 2017 to 2020, Jamaica, Portugal, and France were the largest buyers of rice from Suriname in value terms. Jamaica accounted for 58.4% of exports, Portugal for 11.6%, and France for 7.9%, together forming 77.9% of total exports in value terms.

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

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

Imports rice to Suriname

Imports in kind, t

There were noticeable fluctuations in market performance during the period. From the low in 2019 to the high in 2017, import volumes varied by 2 times. In 2020, foreign rice supplies to Suriname were recorded at 427 tons, showing a steep rise of 84.9% year-over-year. The minimum value was recorded in 2019 at 231 tons, while the largest decline occurred in 2018, at 48.5%.

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

Over the 2017-2020 period, Thailand, Guyana, and the Netherlands were the primary suppliers of rice to Suriname in kind. Thailand accounted for 49.5% of imports, Guyana for 26.4%, and the Netherlands for 9.6%, jointly accounting for 85.4% of total imports in kind.

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

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

Imports in value, K $ US

Rice deliveries to Suriname increased for the second consecutive year. In 2020, Suriname imported approximately 294 thousand US dollars of rice, reflecting a gain of 54.4% compared to the previous year. Over the 2017-2020 period, imports decreased by 6.7%, with a compound annual growth rate of 2.3%. The minimum value was recorded in 2018 at 187 thousand US dollars, which also saw the largest decline of 40.6%.

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

Throughout 2017-2020, Thailand, Guyana, and the Netherlands formed the key group of partners for Suriname's rice imports in value terms. Thailand accounted for 53.5% of imports, Guyana for 21.2%, and the Netherlands for 12.8%, jointly representing 87.5% of total import flows.

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

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