Milled Rice Price in Bangladesh - 2022

Milled Rice Price in Bangladesh (CIF) - 2022

The average milled rice import price stood at $400 per ton in 2022, surging by 3.5% against the previous year. In general, the import price, however, continues to indicate a mild setback. The growth pace was the most rapid in 2016 when the average import price increased by 5.5%. Over the period under review, average import prices attained the peak figure at $451 per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Pakistan ($1,110 per ton), while the price for India ($382 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Pakistan (+8.3%), while the prices for the other major suppliers experienced a decline.

Milled Rice Price in Bangladesh (FOB) - 2022

In 2022, the average milled rice export price amounted to $931 per ton, reducing by -24.4% against the previous year. Over the period under review, the export price, however, saw mild growth. The most prominent rate of growth was recorded in 2017 an increase of 80% against the previous year. The export price peaked at $1,232 per ton in 2021, and then dropped dramatically in the following year.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($1,783 per ton), while the average price for exports to India ($426 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Sri Lanka (+68.0%), while the prices for the other major destinations experienced more modest paces of growth.

Milled Rice Imports in Bangladesh

In 2022, purchases abroad of semi-milled or wholly milled (bleached) rice decreased by -56.6% to 1.2M tons for the first time since 2018, thus ending a three-year rising trend. Overall, imports continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2021 with an increase of 79%. As a result, imports attained the peak of 2.7M tons, and then contracted sharply in the following year.

In value terms, milled rice imports dropped notably to $470M in 2022. In general, imports continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 with an increase of 68% against the previous year. As a result, imports attained the peak of $1B, and then shrank significantly in the following year.

Import of Milled Rice in Bangladesh (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
India	395	327	912	250	-14.1%
Myanmar	N/A	N/A	34.5	57.3	66.1%
Thailand	2.3	1.3	N/A	37.4	153.3%
Vietnam	44.7	33.5	32.2	15.7	-29.4%
Pakistan	34.4	93.6	1.4	1.4	-65.6%
China	3.3	166	N/A	N/A	4930.3%
Others	0.7	0.7	67.1	109	438.0%
Total	480	623	1,047	470	-0.7%

Top Suppliers of Milled Rice to Bangladesh in 2022:

India (653.1K tons)
Myanmar (147.3K tons)
Thailand (82.2K tons)
Vietnam (31.4K tons)
Pakistan (1.3K tons)

Milled Rice Exports in Bangladesh

In 2022, after three years of growth, there was decline in shipments abroad of semi-milled or wholly milled (bleached) rice, when their volume decreased by -0.6% to 15K tons. In general, total exports indicated strong growth from 2019 to 2022: its volume increased at an average annual rate of +15.0% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +51.9% against 2019 indices. The most prominent rate of growth was recorded in 2020 when exports increased by 41%.

In value terms, milled rice exports dropped dramatically to $14M in 2022. Over the period under review, total exports indicated a buoyant expansion from 2019 to 2022: its value increased at an average annual rate of +7.6% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2020 when exports increased by 37% against the previous year.

Export of Milled Rice in Bangladesh (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
United States	2,306	3,382	3,099	3,253	12.2%
India	N/A	N/A	N/A	2,810	0%
Italy	553	708	795	966	20.4%
United Kingdom	377	652	677	626	18.4%
United Arab Emirates	591	704	887	585	-0.3%
Canada	302	555	485	505	18.7%
Malaysia	1,392	1,397	1,399	415	-33.2%
Australia	473	820	546	381	-7.0%
Singapore	159	219	347	364	31.8%
Kuwait	109	128	125	310	41.7%
Greece	367	696	568	235	-13.8%
Jordan	224	212	299	151	-12.3%
Saudi Arabia	2,187	3,214	4,647	N/A	45.8%
Others	1,976	2,364	4,400	3,121	16.5%
Total	11,017	15,050	18,275	13,722	7.6%