Asia: Paddy Rice Market 2023

Paddy Rice Market Size in Asia

The Asian paddy rice market declined to $X in 2021, which is down by -1.8% against the previous year. The market value increased at an average annual rate of +1.0% over the period from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. Over the period under review, the market attained the peak level at $X in 2020, and then fell slightly in the following year.

Paddy Rice Production in Asia

In value terms, paddy rice production dropped modestly to $X in 2021 estimated in export price. In general, production, however, posted prominent growth. The pace of growth appeared the most rapid in 2017 with an increase of 225%. The level of production peaked at $X in 2020, and then reduced slightly in the following year.

The countries with the highest volumes of production in 2021 were China (X tons), India (X tons) and Bangladesh (X tons), with a combined 66% share of total production.

From 2012 to 2021, the most notable rate of growth in terms of production, amongst the leading producing countries, was attained by India (with a CAGR of +1.3%), while production for the other leaders experienced more modest paces of growth.

In 2021, the average paddy rice yield in Asia stood at X tons per ha, flattening at the previous year's figure. Overall, the yield continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 with an increase of 1.3% against the previous year. The level of yield peaked at X tons per ha in 2019; however, from 2020 to 2021, the yield failed to regain momentum. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2021, the total area harvested in terms of paddy rice production in Asia reduced to X ha, almost unchanged from the previous year's figure. Over the period under review, the harvested area continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 with an increase of 1.4%. Over the period under review, the harvested area dedicated to paddy rice production reached the peak figure at X ha in 2013; however, from 2014 to 2021, the harvested area stood at a somewhat lower figure.

Paddy Rice Exports

Exports in Asia

In 2021, paddy rice exports in Asia soared to X tons, rising by 58% on the year before. Over the period under review, exports showed resilient growth. The pace of growth appeared the most rapid in 2018 with an increase of 71%. The volume of export peaked in 2021 and is likely to continue growth in years to come.

In value terms, paddy rice exports skyrocketed to $X in 2021. Overall, exports showed a prominent expansion. The most prominent rate of growth was recorded in 2020 with an increase of 39% against the previous year. The level of export peaked in 2021 and is likely to see steady growth in the near future.

Exports by Country

India prevails in exports structure, reaching X tons, which was near 88% of total exports in 2021. Lao People's Democratic Republic (X tons), China (X tons) and Pakistan (X tons) took a relatively small share of total exports.

From 2012 to 2021, average annual rates of growth with regard to paddy rice exports from India stood at +11.9%. At the same time, Pakistan (+19.8%) and Lao People's Democratic Republic (+3.1%) displayed positive paces of growth. Moreover, Pakistan emerged as the fastest-growing exporter exported in Asia, with a CAGR of +19.8% from 2012-2021. China experienced a relatively flat trend pattern. India (+14 p.p.) significantly strengthened its position in terms of the total exports, while Lao People's Democratic Republic and China saw its share reduced by -2.8% and -3.6% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X) remains the largest paddy rice supplier in Asia, comprising 63% of total exports. The second position in the ranking was held by China ($X), with a 29% share of total exports. It was followed by Lao People's Democratic Republic, with a 2.2% share.

From 2012 to 2021, the average annual rate of growth in terms of value in India amounted to +10.5%. The remaining exporting countries recorded the following average annual rates of exports growth: China (+3.2% per year) and Lao People's Democratic Republic (+1.6% per year).

Export Prices by Country

In 2021, the export price in Asia amounted to $X per ton, falling by -12.9% against the previous year. Overall, the export price saw a noticeable contraction. The growth pace was the most rapid in 2016 when the export price increased by 33%. As a result, the export price attained the peak level of $X per ton. From 2017 to 2021, the export prices remained at a somewhat lower figure.

Prices varied noticeably country of origin: the country with the highest price was China ($X per ton), while Pakistan ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+2.3%), while the other leaders experienced a decline in the export price figures.

Paddy Rice Imports

Imports in Asia

In 2021, overseas purchases of paddy rice increased by 25% to X tons, rising for the fifth consecutive year after two years of decline. In general, imports enjoyed a strong expansion. The pace of growth was the most pronounced in 2020 with an increase of 52%. Over the period under review, imports reached the peak figure in 2021 and are expected to retain growth in years to come.

In value terms, paddy rice imports stood at $X in 2021. Total imports indicated a perceptible expansion from 2012 to 2021: its value increased at an average annual rate of +3.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +84.6% against 2017 indices. The pace of growth appeared the most rapid in 2020 when imports increased by 43% against the previous year. Over the period under review, imports attained the peak figure in 2021 and are expected to retain growth in the near future.

Imports by Country

Nepal dominates imports structure, finishing at X tons, which was approx. 72% of total imports in 2021. The Philippines (X tons) held the second position in the ranking, followed by Turkey (X tons). All these countries together held near 17% share of total imports. The following importers - Yemen (X tons) and Vietnam (X tons) - together made up 6.6% of total imports.

Imports into Nepal increased at an average annual rate of +13.6% from 2012 to 2021. At the same time, the Philippines (+43.5%) and Yemen (+8.5%) displayed positive paces of growth. Moreover, the Philippines emerged as the fastest-growing importer imported in Asia, with a CAGR of +43.5% from 2012-2021. By contrast, Vietnam (-5.0%) and Turkey (-11.9%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Nepal and the Philippines increased by +35 and +9 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nepal ($X) constitutes the largest market for imported paddy rice in Asia, comprising 46% of total imports. The second position in the ranking was taken by the Philippines ($X), with a 20% share of total imports. It was followed by Turkey, with an 8% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Nepal totaled +16.5%. The remaining importing countries recorded the following average annual rates of imports growth: the Philippines (+23.2% per year) and Turkey (-10.3% per year).

Import Prices by Country

The import price in Asia stood at $X per ton in 2021, shrinking by -13.2% against the previous year. Over the period under review, the import price continues to indicate a pronounced decline. The pace of growth was the most pronounced in 2014 an increase of 7.2% against the previous year. The level of import peaked at $X per ton in 2016; however, from 2017 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was the Philippines ($X per ton), while Nepal ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Nepal (+2.5%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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