Milled Rice Price in Estonia - 2023
Contents:
- Milled Rice Price in Estonia (CIF) - 2023
- Milled Rice Price in Estonia (FOB) - 2022
- Milled Rice Imports in Estonia
- Milled Rice Exports in Estonia
Milled Rice Price in Estonia (CIF) - 2023
In September 2023, the average milled rice import price amounted to $1,346 per ton, declining by -5.8% against the previous month. Over the period from September 2022 to September 2023, it increased at an average monthly rate of +2.8%. The most prominent rate of growth was recorded in June 2023 an increase of 27% month-to-month. As a result, import price attained the peak level of $1,521 per ton. From July 2023 to September 2023, the average import prices remained at a somewhat lower figure.
There were significant differences in the average prices amongst the major supplying countries. In September 2023, the country with the highest price was Belgium ($1,860 per ton), while the price for Vietnam ($851 per ton) was amongst the lowest.
From September 2022 to September 2023, the most notable rate of growth in terms of prices was attained by Portugal (+6.1%), while the prices for the other major suppliers experienced more modest paces of growth.
Milled Rice Price in Estonia (FOB) - 2022
In 2022, the average milled rice export price amounted to $1,765 per ton, dropping by -5.7% against the previous year. Overall, the export price, however, posted a strong increase. The pace of growth was the most pronounced in 2021 an increase of 81% against the previous year. As a result, the export price attained the peak level of $1,872 per ton, and then fell in the following year.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Finland ($4,460 per ton), while the average price for exports to Ukraine ($931 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 Finland (+10.1%), while the prices for the other major destinations experienced more modest paces of growth.
Milled Rice Imports in Estonia
In 2022, approx. 3.8K tons of semi-milled or wholly milled (bleached) rice were imported into Estonia; surging by 5.3% on the previous year's figure. The total import volume increased at an average annual rate of +3.8% from 2019 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2020 when imports increased by 9.4% against the previous year. Over the period under review, imports attained the maximum in 2022 and are expected to retain growth in the near future.
In value terms, milled rice imports reached $4.4M in 2022. The total import value increased at an average annual rate of +9.9% from 2019 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations in certain years. The pace of growth appeared the most rapid in 2020 with an increase of 18% against the previous year. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the near future.
| Import of Milled Rice in Estonia (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Latvia | 803 | 1,500 | 1,369 | 1,361 | 19.2% |
| Lithuania | 305 | 507 | 702 | 780 | 36.8% |
| Belgium | 411 | 561 | 491 | 581 | 12.2% |
| Portugal | 35.8 | 73.3 | 139 | 340 | 111.8% |
| India | 66.6 | 91.2 | 223 | 270 | 59.5% |
| Pakistan | 217 | 128 | 123 | 240 | 3.4% |
| Italy | 429 | 199 | 242 | 231 | -18.6% |
| Germany | 431 | 231 | 241 | 194 | -23.4% |
| Myanmar | 108 | 207 | 142 | 164 | 14.9% |
| Others | 532 | 439 | 336 | 270 | -20.2% |
| Total | 3,339 | 3,937 | 4,008 | 4,429 | 9.9% |
Top Suppliers of Milled Rice to Estonia in 2022:
- Latvia (1088.2 tons)
- Lithuania (764.3 tons)
- Belgium (405.7 tons)
- Portugal (315.3 tons)
- Pakistan (261.6 tons)
- Myanmar (220.0 tons)
- India (185.0 tons)
- Italy (173.8 tons)
- Germany (171.3 tons)
Milled Rice Exports in Estonia
In 2022, shipments abroad of semi-milled or wholly milled (bleached) rice decreased by -6.5% to 292 tons, falling for the second consecutive year after two years of growth. Overall, exports recorded a noticeable decrease. The pace of growth appeared the most rapid in 2020 with an increase of 10%. As a result, the exports reached the peak of 344 tons. From 2021 to 2022, the growth of the exports failed to regain momentum.
In value terms, milled rice exports contracted to $515K in 2022. In general, total exports indicated a resilient expansion from 2019 to 2022: its value increased at an average annual rate of +13.4% 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 +45.8% against 2019 indices. The most prominent rate of growth was recorded in 2021 with an increase of 64% against the previous year. As a result, the exports reached the peak of $584K, and then dropped in the following year.
| Export of Milled Rice in Estonia (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Finland | 26.5 | 73.5 | 344 | 275 | 118.1% |
| Latvia | 278 | 190 | 190 | 172 | -14.8% |
| Lithuania | 32.6 | 90.8 | 44.0 | 44.0 | 10.5% |
| Ukraine | N/A | N/A | N/A | 20.5 | 0% |
| Others | 16.0 | 2.2 | 5.4 | 2.9 | -43.4% |
| Total | 353 | 357 | 584 | 515 | 13.4% |
Top Export Markets for Milled Rice from Estonia in 2022:
- Latvia (183.6 tons)
- Finland (61.7 tons)
- Lithuania (22.6 tons)
- Ukraine (22.0 tons)
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