Trinidad and Tobago: Rice Market 2020

Rice Exports

Exports from Trinidad and Tobago

In 2018, the amount of rice exported from Trinidad and Tobago stood at X tons, falling by -X% against the previous year. In general, rice exports continue to indicate an abrupt decline. The pace of growth was the most pronounced in 2014 with an increase of X% year-to-year. Over the period under review, rice exports reached their maximum at X tons in 2007; however, from 2008 to 2018, exports failed to regain their momentum.

In value terms, rice exports stood at $X in 2018. In general, rice exports continue to indicate an abrupt downturn. The most prominent rate of growth was recorded in 2009 when exports increased by X% y-o-y. Over the period under review, rice exports attained their peak figure at $X in 2007; however, from 2008 to 2018, exports failed to regain their momentum.

Exports by Country

Antigua and Barbuda (X tons), Jamaica (X tons) and Guyana (X tons) were the main destinations of rice exports from Trinidad and Tobago, with a combined X% share of total exports. These countries were followed by Brazil, Saint Kitts and Nevis, France and Grenada, which together accounted for a further X 2007 to 2018, the most notable rate of growth in terms of exports, amongst the main countries of destination, was attained by Brazil, while the other leaders experienced mixed trend patterns.

In value terms, the largest markets for rice exported from Trinidad and Tobago were Antigua and Barbuda ($X), France ($X) and Guyana ($X), together comprising X% of total exports. Jamaica, Brazil, Saint Kitts and Nevis and Grenada lagged somewhat behind, together accounting for a further X recorded the highest growth rate of exports, among the main countries of destination over the last eleven years, while the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2018, the average rice export price amounted to $X per ton, approximately equating the previous year. Overall, the export price indicated resilient growth from 2007 to 2018: its price increased at an average annual rate of +X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2018 figures, rice export price increased by +X% against 2015 indices. The most prominent rate of growth was recorded in 2013 when the average export price increased by X% y-o-y. In that year, the average export prices for rice attained their peak level of $X per ton. From 2014 to 2018, the growth in terms of the average export prices for rice failed to regain its momentum.

Prices varied noticeably by the country of destination; the country with the highest price was France ($X per ton), while the average price for exports to Brazil ($X per ton) was amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of prices was recorded for supplies to France, while the prices for the other major destinations experienced more modest paces of growth.

Rice Imports

Imports into Trinidad and Tobago

In 2018, the amount of rice imported into Trinidad and Tobago totaled X tons, reducing by -X% against the previous year. Over the period under review, rice imports continue to indicate a drastic contraction. The pace of growth appeared the most rapid in 2011 when imports increased by X% y-o-y. Over the period under review, rice imports reached their maximum at X tons in 2007; however, from 2008 to 2018, imports stood at a somewhat lower figure.

In value terms, rice imports totaled $X in 2018. The total import value increased at an average annual rate of +X% from 2007 to 2018; however, the trend pattern indicated some noticeable fluctuations being recorded over the period under review. The growth pace was the most rapid in 2008 with an increase of X% year-to-year. In that year, rice imports attained their peak of $X. From 2009 to 2018, the growth of rice imports failed to regain its momentum.

Imports by Country

Guyana (X tons), Brazil (X tons) and Paraguay (X tons) were the main suppliers of rice imports to Trinidad and Tobago, together accounting for X% of total imports. These countries were followed by Pakistan, Suriname and Thailand, which together accounted for a further X 2007 to 2018, the most notable rate of growth in terms of imports, amongst the main suppliers, was attained by Pakistan, while the other leaders experienced mixed trend patterns.

In value terms, Guyana ($X) constituted the largest supplier of rice to Trinidad and Tobago, comprising X% of total rice imports. The second position in the ranking was occupied by Brazil ($X), with a X% share of total imports. It was followed by Paraguay, with a X% share.

From 2007 to 2018, the average annual growth rate of value from Guyana amounted to +X%. The remaining supplying countries recorded the following average annual rates of imports growth: Brazil (+X% per year) and Paraguay (+X% per year).

Import Prices by Country

In 2018, the average rice import price amounted to $X per ton, surging by X% against the previous year. Over the period under review, the import price indicated a prominent expansion from 2007 to 2018: its price increased at an average annual rate of +X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2018 figures, rice import price increased by +X% against 2008 indices. The pace of growth was the most pronounced in 2008 an increase of X% against the previous year. Over the period under review, the average import prices for rice attained their maximum in 2018 and is likely to continue its growth in the immediate term.

Prices varied noticeably by the country of origin; the country with the highest price was Thailand ($X per ton), while the price for Suriname ($X per ton) was amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of prices was attained by Guyana, while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform