Ecuador: Rice Market 2024

Rice Market Size in Ecuador

In 2022, after two years of growth, there was significant decline in the Ecuadorian rice market, when its value decreased by X% to $X. In general, consumption continues to indicate a deep downturn. Rice consumption peaked at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Rice Production in Ecuador

In value terms, rice production shrank to $X in 2022 estimated in export price. Overall, production continues to indicate a deep reduction. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. Rice production peaked at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

In 2022, the average yield of rice in Ecuador reduced to X tons per ha, falling by X% against the previous year's figure. Overall, the yield, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 with an increase of X% against the previous year. As a result, the yield attained the peak level of X tons per ha. From 2019 to 2022, the growth of the average rice 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 2022, the harvested area of rice in Ecuador reduced modestly to X ha, which is down by X% against the previous year's figure. Over the period under review, the harvested area recorded a mild descent. The pace of growth appeared the most rapid in 2021 when the harvested area increased by X%. Over the period under review, the harvested area dedicated to rice production reached the maximum at X ha in 2013; however, from 2014 to 2022, the harvested area failed to regain momentum.

Rice Exports

Exports from Ecuador

In 2022, the amount of rice exported from Ecuador soared to X tons, picking up by X% on the previous year's figure. Overall, exports continue to indicate a resilient increase. The exports peaked at X tons in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

In value terms, rice exports skyrocketed to $X in 2022. In general, exports enjoyed a prominent increase. The exports peaked at $X in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

Exports by Country

Colombia (X tons) was the main destination for rice exports from Ecuador, with a X% share of total exports. It was followed by Peru (X tons), with a X% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to Colombia totaled X%.

In value terms, Colombia ($X) remains the key foreign market for rice exports from Ecuador, comprising X% of total exports. The second position in the ranking was held by Peru ($X), with a X% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Colombia totaled X%.

Export Prices by Country

The average rice export price stood at $X per ton in 2022, with an increase of X% against the previous year. In general, the export price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 an increase of X% against the previous year. Over the period under review, the average export prices reached the maximum at $X per ton in 2020; however, from 2021 to 2022, the export prices failed to regain momentum.

Average prices varied noticeably for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Peru ($X per ton), while the average price for exports to Colombia stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Italy (X%), while the prices for the other major destinations experienced a decline.

Rice Imports

Imports into Ecuador

In 2022, supplies from abroad of rice increased by X% to X tons, rising for the fourth year in a row after three years of decline. Overall, imports enjoyed strong growth. The most prominent rate of growth was recorded in 2020 with an increase of X% against the previous year. Over the period under review, imports attained the maximum in 2022 and are likely to see steady growth in the near future.

In value terms, rice imports surged to $X in 2022. Over the period under review, imports posted strong growth. The pace of growth appeared the most rapid in 2020 when imports increased by X% against the previous year. Imports peaked in 2022 and are likely to see steady growth in the near future.

Imports by Country

In 2022, the United States (X tons) constituted the largest supplier of rice to Ecuador, with a X% share of total imports. Moreover, rice imports from the United States exceeded the figures recorded by the second-largest supplier, Italy (X tons), twofold. Peru (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual growth rate of volume from the United States stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (X% per year) and Peru (X% per year).

In value terms, the United States ($X), Italy ($X) and Peru ($X) constituted the largest rice suppliers to Ecuador, with a combined X% share of total imports. Spain, Argentina, India and Myanmar lagged somewhat behind, together comprising a further X%.

In terms of the main suppliers, Argentina, with a CAGR of X%, recorded the highest rates of growth with regard to 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, increasing by X% against the previous year. In general, the import price, however, saw a perceptible decline. The growth pace was the most rapid in 2020 an increase of X% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Argentina ($X per ton), while the price for Peru ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Peru (X%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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