Milled Rice Price in New Zealand - 2023
Contents:
- Milled Rice Price in New Zealand (CIF) - 2023
- Milled Rice Price in New Zealand (FOB) - 2022
- Milled Rice Imports in New Zealand
- Milled Rice Exports in New Zealand
Milled Rice Price in New Zealand (CIF) - 2023
In July 2023, the average milled rice import price amounted to $1,083 per ton, surging by 7.4% against the previous month. Overall, the import price, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in November 2022 when the average import price increased by 9.8% month-to-month. As a result, import price reached the peak level of $1,220 per ton. From December 2022 to July 2023, the average import prices remained at a lower figure.
There were significant differences in the average prices amongst the major supplying countries. In July 2023, the country with the highest price was the United States ($1,914 per ton), while the price for Cambodia ($730 per ton) was amongst the lowest.
From July 2022 to July 2023, the most notable rate of growth in terms of prices was attained by Pakistan (+0.7%), while the prices for the other major suppliers experienced more modest paces of growth.
Milled Rice Price in New Zealand (FOB) - 2022
In 2022, the average milled rice export price amounted to $2,010 per ton, increasing by 29% against the previous year. Over the period under review, export price indicated strong growth from 2012 to 2022: its price increased at an average annual rate of +5.1% 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 +68.1% against 2020 indices. The growth pace was the most rapid in 2017 an increase of 40% against the previous year. The export price peaked in 2022 and is likely to continue growth in the immediate term.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Niue ($3,993 per ton), while the average price for exports to Vietnam ($954 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 Niue (+15.1%), while the prices for the other major destinations experienced more modest paces of growth.
Milled Rice Imports in New Zealand
In 2022, the amount of semi-milled or wholly milled (bleached) rice imported into New Zealand rose slightly to 50K tons, increasing by 2.6% on the previous year's figure. Over the period under review, imports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when imports increased by 13%. As a result, imports reached the peak of 56K tons. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.
In value terms, milled rice imports totaled $57M in 2022. The total import value increased at an average annual rate of +3.7% over the period from 2019 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2020 with an increase of 13%. As a result, imports reached the peak of $57M. From 2021 to 2022, the growth of imports failed to regain momentum.
| Import of Milled Rice in New Zealand (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Thailand | 10.6 | 14.4 | 14.9 | 18.2 | 19.7% |
| Australia | 17.2 | 12.2 | 5.4 | 9.5 | -18.0% |
| India | 8.0 | 9.0 | 10.6 | 8.6 | 2.4% |
| Vietnam | 3.6 | 5.3 | 8.4 | 8.6 | 33.7% |
| Cambodia | 2.8 | 5.5 | 3.6 | 3.0 | 2.3% |
| Pakistan | 3.2 | 3.8 | 3.0 | 2.8 | -4.4% |
| United States | 3.8 | 4.4 | 4.5 | 2.2 | -16.7% |
| Others | 1.6 | 2.8 | 2.3 | 3.8 | 33.4% |
| Total | 50.8 | 57.4 | 52.6 | 56.7 | 3.7% |
Top Suppliers of Milled Rice to New Zealand in 2022:
- Thailand (17.4K tons)
- Vietnam (9.4K tons)
- Australia (7.6K tons)
- India (6.9K tons)
- Cambodia (3.1K tons)
- Pakistan (2.4K tons)
- United States (1.4K tons)
Milled Rice Exports in New Zealand
In 2022, overseas shipments of semi-milled or wholly milled (bleached) rice decreased by -10.8% to 157 tons for the first time since 2018, thus ending a three-year rising trend. In general, total exports indicated a strong expansion from 2019 to 2022: its volume increased at an average annual rate of +13.3% 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 +45.4% against 2019 indices. The most prominent rate of growth was recorded in 2020 when exports increased by 44% against the previous year.
In value terms, milled rice exports rose significantly to $316K in 2022. Overall, exports, however, showed significant growth. The most prominent rate of growth was recorded in 2021 when exports increased by 48% against the previous year. Over the period under review, the exports reached the peak figure in 2022 and are expected to retain growth in years to come.
| Export of Milled Rice in New Zealand (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Tonga | 21.4 | 8.0 | 27.8 | 91.7 | 62.4% |
| Cook Islands | 41.5 | 23.5 | 43.7 | 52.3 | 8.0% |
| Niue | 24.4 | 27.9 | 25.4 | 38.7 | 16.6% |
| Solomon Islands | 16.0 | 12.2 | 16.4 | 31.7 | 25.6% |
| Vietnam | N/A | N/A | 19.2 | 17.2 | -10.4% |
| Australia | 3.2 | 37.3 | 22.0 | 17.1 | 74.8% |
| Fiji | 11.0 | 4.7 | 16.2 | 16.4 | 14.2% |
| Samoa | 7.1 | 14.5 | 3.7 | 11.7 | 18.1% |
| Vanuatu | 13.6 | 7.9 | 7.5 | 10.5 | -8.3% |
| French Polynesia | 9.9 | 12.0 | 41.2 | 6.5 | -13.1% |
| Thailand | 7.1 | N/A | N/A | N/A | 0% |
| India | N/A | N/A | 26.5 | N/A | 0% |
| Turkey | N/A | 4.9 | N/A | N/A | 0% |
| Others | 6.0 | 33.7 | 25.9 | 22.3 | 54.9% |
| Total | 161 | 187 | 275 | 316 | 25.2% |
Top Export Markets for Milled Rice from New Zealand in 2022:
- Tonga (54.5 tons)
- Cook Islands (20.8 tons)
- Vietnam (18.0 tons)
- Solomon Islands (14.7 tons)
- Fiji (14.3 tons)
- Niue (9.7 tons)
- Samoa (5.8 tons)
- Australia (4.8 tons)
- Vanuatu (4.7 tons)
- French Polynesia (2.4 tons)
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