Semi-milled or wholly milled rice market in South America

Earlier Report Observations

The market volume for semi-milled or wholly milled rice in South America showed notable changes between 2018 and 2023. After reaching 14.8 million tonnes in 2018, it dropped to 13.2 million tonnes in 2019 due to winter rains that hampered production in important growing regions. The market stabilized in 2020 at 13.4 million tonnes as the COVID-19 pandemic reinforced domestic supply chains and expanded storage infrastructure.

Continued government storage subsidies and mill automation helped push the market to 14.6 million tonnes in 2021. Another weather-related production decline brought volume down to 14.0 million tonnes in 2022, but the market recovered to 14.5 million tonnes in 2023 after the removal of storage incentives prompted increased market releases and higher production.

Production semi-milled or wholly milled rice in South America

In kind, 2017-2020, K t

Top producers of semi-milled or wholly milled rice, 2017-2020

World map of production of semi-milled or wholly milled rice, 2017-2020

After two years of decline, South America's production of semi-milled or wholly milled rice rebounded in 2020. That year, the region produced 14 900 K t, marking a 5.5% year-over-year increase. Looking at the broader period from 2017 to 2020, production overall decreased by 7.6%, with a compound annual growth rate of 2.6%. The lowest production level was recorded in 2019 at 14 128 K t, which also saw the largest decline of 9.5% during this timeframe.

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

In value, 2017-2020, M $ US

In 2020, the value of semi-milled or wholly milled rice output in South America reached 9 294 M $ US, representing a 7.8% increase compared to the previous year. Over the 2017-2020 period, production value decreased by 5.8%, with a compound annual growth rate of 2.0%. The lowest value was recorded in 2019 at 8 618 M $ US, while the highest was in 2018 at 9 962 M $ US. The most significant decline occurred in 2019, dropping by 13.5%.

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

Exports semi-milled or wholly milled rice from South America

Exports in kind, K t

South America's exports of semi-milled or wholly milled rice have grown for the third consecutive year. In 2020, export volumes reached 2 013 K t, showing a sharp increase of 41.2% compared to the previous year. From 2017 to 2020, exports rose by 63.3%, with a compound annual growth rate of 17.8%.

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

Between 2017 and 2020, South America's exports of semi-milled or wholly milled rice were distributed across a wide range of markets. The top three destinations—Iraq (8.6% of export volume), Cuba (5.7%), and Mexico (5.7%)—together accounted for only 20.1% of total flows, indicating a highly diversified export structure.

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 export value of semi-milled or wholly milled rice has increased for the third year in a row. In 2020, exports amounted to 1 255 M $ US, reflecting a 44.4% rise over the previous year. From 2017 to 2020, export value grew by 66.5%, equivalent to an annualized rate of 18.5%.

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

The value structure of exports from 2017 to 2020 reveals a diversified set of trading partners. Iraq (8.4% of export value), Mexico (5.9%), and Cuba (5.5%) jointly accounted for just 19.9% of total flows, while the remaining 80.1% was spread across numerous smaller markets.

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 semi-milled or wholly milled rice to South America

Imports in kind, K t

Following two years of reduction, South America's imports of semi-milled or wholly milled rice increased in 2020. That year, imports reached 498 K t, up 6.3% from 2019. Over the 2017-2020 period, imports decreased by 37.5%, with a compound annual growth rate of 14.5%. The lowest import volume was recorded in 2019 at 469 K t, and the largest decline occurred in 2018, falling by 38.4%.

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

From 2017 to 2020, the United States (3.6% of import volume), Thailand (2.2%), and India (1.3%) were consistently the main sources for South America's imports of semi-milled or wholly milled rice, together accounting for 7.1% of total flows.

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 imports of semi-milled or wholly milled rice have risen for the second consecutive year. In 2020, the region imported 838 M $ US worth of this rice, up 38.7% compared to 2019. Over the 2017-2020 period, imports increased by 33.5%, with a compound annual growth rate of 10.1%. The lowest import value was recorded in 2018 at 507 M $ US, which also saw the largest decline of 19.4%.

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

Between 2017 and 2020, three key markets—the United States, Thailand, and India—together accounted for 8.1% of South America's total import value for semi-milled or wholly milled rice.

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

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