Australia: Rice Market 2024

Rice Market Size in Australia

In 2022, after two years of growth, there was significant decline in the Australian rice market, when its value decreased by X% to $X. Overall, consumption continues to indicate a abrupt curtailment. Rice consumption peaked at $X in 2013; however, from 2014 to 2022, consumption stood at a somewhat lower figure.

Rice Production in Australia

In value terms, rice production dropped slightly to $X in 2022 estimated in export price. In general, production continues to indicate a precipitous slump. The pace of growth was the most pronounced in 2017 when the production volume increased by X%. Over the period under review, production hit record highs at $X in 2013; however, from 2014 to 2022, production failed to regain momentum.

In 2022, the average rice yield in Australia fell notably to X tons per ha, waning by X% against 2021 figures. In general, the yield continues to indicate a deep contraction. The pace of growth was the most pronounced in 2021 with an increase of X%. Over the period under review, the average rice yield hit record highs at X tons per ha in 2014; however, from 2015 to 2022, the yield stood at a somewhat lower figure. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, approx. X ha of rice were harvested in Australia; growing by X% on the previous year. In general, the harvested area, however, showed a abrupt downturn. The pace of growth was the most pronounced in 2013 with an increase of X%. As a result, the harvested area attained the peak level of X ha. From 2014 to 2022, the growth of the rice harvested area remained at a somewhat lower figure.

Rice Exports

Exports from Australia

In 2022, the amount of rice exported from Australia soared to X tons, increasing by X% compared with the previous year's figure. In general, exports, however, recorded a abrupt slump. The growth pace was the most rapid in 2019 when exports increased by X%. The exports peaked at X tons in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

In value terms, rice exports soared to $X in 2022. Over the period under review, exports, however, recorded a abrupt curtailment. The most prominent rate of growth was recorded in 2019 with an increase of X%. The exports peaked at $X in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

Exports by Country

South Africa (X tons) was the main destination for rice exports from Australia, with a X% share of total exports. Moreover, rice exports to South Africa exceeded the volume sent to the second major destination, New Zealand (X tons), more than tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume to South Africa amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: New Zealand (X% per year) and Argentina (X.3% per year).

In value terms, South Africa ($X) emerged as the key foreign market for rice exports from Australia, comprising X% of total exports. The second position in the ranking was held by New Zealand ($X), with less than X% share of total exports.

From 2012 to 2022, the average annual growth rate of value to South Africa totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: New Zealand (X% per year) and Argentina (X.0% per year).

Export Prices by Country

The average rice export price stood at $X per ton in 2022, waning by X% against the previous year. Over the period under review, export price indicated tangible growth from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, rice export price decreased by X% against 2020 indices. The pace of growth was the most pronounced in 2019 when the average export price increased by X%. Over the period under review, the average export prices attained the peak figure at $X per ton in 2020; however, from 2021 to 2022, the export prices failed to regain momentum.

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 New Zealand ($X per ton), while the average price for exports to South Africa ($X 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 the United States (X%), while the prices for the other major destinations experienced more modest paces of growth.

Rice Imports

Imports into Australia

In 2022, the amount of rice imported into Australia skyrocketed to X tons, rising by X% compared with the previous year. Overall, total imports indicated prominent growth from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by X% against 2020 indices. The growth pace was the most rapid in 2020 with an increase of X% against the previous year. As a result, imports reached the peak of X tons. From 2021 to 2022, the growth of imports remained at a lower figure.

In value terms, rice imports soared to $X in 2022. In general, total imports indicated a resilient increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by X% against 2020 indices. Imports peaked at $X in 2020; however, from 2021 to 2022, imports remained at a lower figure.

Imports by Country

Thailand (X tons), India (X tons) and Vietnam (X tons) were the main suppliers of rice imports to Australia, with a combined X% share of total imports. Pakistan, Taiwan (Chinese), Cambodia, Italy and the United States lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Taiwan (Chinese) (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest rice suppliers to Australia were India ($X), Thailand ($X) and Vietnam ($X), together accounting for X% of total imports. Pakistan, Taiwan (Chinese), Italy, the United States and Cambodia lagged somewhat behind, together comprising a further X%.

In terms of the main suppliers, Taiwan (Chinese), with a CAGR of X%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average rice import price stood at $X per ton in 2022, surging by X% against the previous year. Overall, the import price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the average import price increased by X%. The import price peaked at $X per ton in 2013; afterwards, it flattened through to 2022.

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 the United States ($X per ton), while the price for Cambodia ($X 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 (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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