Milled Rice Price in Iraq - 2022
Contents:
- Milled Rice Price in Iraq (CIF) - 2022
- Milled Rice Price in Iraq (FOB) - 2022
- Milled Rice Imports in Iraq
- Milled Rice Exports in Iraq
Milled Rice Price in Iraq (CIF) - 2022
The average milled rice import price stood at $632 per ton in 2022, picking up by 3.4% against the previous year. In general, the import price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 an increase of 28%. The import price peaked at $755 per ton in 2018; however, from 2019 to 2022, import prices remained at a lower figure.
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 India ($1,138 per ton), while the price for Argentina ($578 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+3.4%), while the prices for the other major suppliers experienced more modest paces of growth.
Milled Rice Price in Iraq (FOB) - 2022
The average milled rice export price stood at $1,338 per ton in 2022, picking up by 14% against the previous year. In general, export price indicated modest growth from 2012 to 2022: its price increased at an average annual rate of +1.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, milled rice export price increased by +48.5% against 2017 indices. The most prominent rate of growth was recorded in 2018 an increase of 88%. The export price peaked at $1,828 per ton in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.
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 Sweden ($2,638 per ton), while the average price for exports to the United Arab Emirates ($277 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 Sweden (+23.6%), while the prices for the other major destinations experienced mixed trend patterns.
Milled Rice Imports in Iraq
In 2022, the amount of semi-milled or wholly milled (bleached) rice imported into Iraq rose slightly to 1.5M tons, growing by 4.6% against the year before. Overall, total imports indicated a remarkable increase from 2019 to 2022: its volume increased at an average annual rate of +6.5% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +54.0% against 2020 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 47%. Imports peaked in 2022 and are likely to see gradual growth in years to come.
In value terms, milled rice imports totaled $977M in 2022. The total import value increased at an average annual rate of +4.4% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 when imports increased by 31% against the previous year. Imports peaked in 2022 and are expected to retain growth in years to come.
Import of Milled Rice in Iraq (Million USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
India | 478 | 494 | 488 | 253 | -19.1% |
Thailand | 34.8 | 8.4 | 106 | 81.4 | 32.7% |
Uruguay | 27.7 | 41.6 | 67.4 | 58.2 | 28.1% |
Vietnam | 156 | 39.9 | 53.8 | 48.1 | -32.4% |
United States | 72.6 | 49.2 | 42.8 | 42.4 | -16.4% |
Argentina | 14.5 | 12.2 | 13.8 | 10.7 | -9.6% |
Turkey | 29.0 | 31.2 | 20.4 | 7.6 | -36.0% |
Others | 44.3 | 15.3 | 112 | 475 | 120.5% |
Total | 858 | 692 | 904 | 977 | 4.4% |
Top Suppliers of Milled Rice to Iraq in 2022:
- India (222.4K tons)
- Thailand (129.8K tons)
- Uruguay (83.6K tons)
- Vietnam (76.9K tons)
- United States (52.1K tons)
- Argentina (18.6K tons)
- Turkey (8.5K tons)
Milled Rice Exports in Iraq
For the fourth year in a row, Iraq recorded growth in shipments abroad of semi-milled or wholly milled (bleached) rice, which increased by 180% to 333 tons in 2022. In general, exports enjoyed a significant increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.
In value terms, milled rice exports skyrocketed to $445K in 2022. Overall, exports enjoyed significant growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.
Export of Milled Rice in Iraq (Thousand USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
Sweden | N/A | N/A | 32.6 | 68.3 | 109.5% |
United States | N/A | N/A | N/A | 58.6 | 0% |
Saudi Arabia | 60.3 | 55.1 | 30.7 | 57.6 | -1.5% |
United Kingdom | N/A | N/A | N/A | 55.6 | 0% |
Germany | 5.8 | 23.0 | 12.0 | 33.8 | 80.0% |
Netherlands | N/A | N/A | 0.5 | 16.4 | 3180.0% |
United Arab Emirates | 0.6 | 2.6 | 6.1 | 11.3 | 166.1% |
Others | 13.5 | 63.3 | 57.5 | 144 | 120.1% |
Total | 80.2 | 144 | 139 | 445 | 77.0% |
Top Export Markets for Milled Rice from Iraq in 2022:
- Saudi Arabia (60.4 tons)
- United Kingdom (42.9 tons)
- United Arab Emirates (41.0 tons)
- United States (32.2 tons)
- Sweden (25.9 tons)
- Germany (23.5 tons)
- Netherlands (21.2 tons)
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This year, rice prices are forecast to ease, thanks primarily to rising production and exports from India, Thailand, Vietnam, China, and Pakistan. India dominates global trade, more than doubling its supplies at a competitive cost over the past two years.
Over 2020-2021 period, the global rice market displayed robust production indicators. Despite a pronounced shortage of shipping containers threatening to disrupt supplies to Africa, the global rice export market continues to expand. India maintains its status as the largest exporter, boasting the most competitive rice export prices.
Global rice consumption amounted to X tons in 2016 (in terms of milled rice weight), posting modest but robust gains from 2007-2016. The total consumption volume increased at an average annual rate of +X%. Over the period under review, the globa
Global rice consumption amounted to X thousand tons in 2015, increasing by +X% against the previous year level.
Global rice exports amounted to X thousand tons in 2015, descending by -X% against the previous year level.
Global rice imports amounted to X thousand tons in 2015, declining by -X% against the previous year level.
In 2015, the countries with the highest levels of rice production were China (X thousand tons), India (X thousand tons), Indonesia (X thousand tons), together accounting for X% of total output.
India, despite a slight drop in exports in 2014, continued its dominance in the global rice trade. In 2014, India exported X thousand tons of rice totaling X million USD, X% under the previous year. Its primary trading partner was Saudi Arab