Greece: Paddy Rice Market 2023

Paddy Rice Market Size in Greece

The Greek paddy rice market surged to $X in 2022, picking up by 16% against the previous year. The market value increased at an average annual rate of +1.5% over the period from 2012 to 2022; however, the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. Paddy rice consumption peaked at $X in 2016; however, from 2017 to 2022, consumption stood at a somewhat lower figure.

Paddy Rice Production in Greece

In value terms, paddy rice production rose significantly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.9% from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. The pace of growth appeared the most rapid in 2020 when the production volume increased by 27%. As a result, production reached the peak level of $X. From 2021 to 2022, production growth remained at a lower figure.

In 2022, the average yield of paddy rice in Greece expanded sharply to X tons per ha, increasing by 7.6% against the previous year's figure. In general, the yield, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 when the yield increased by 12% against the previous year. The paddy rice yield peaked at X tons per ha in 2015; however, from 2016 to 2022, the yield remained at a 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 paddy rice were harvested in Greece; growing by 1.7% compared with the previous year's figure. The harvested area increased at an average annual rate of +1.4% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being observed throughout the analyzed period. The pace of growth appeared the most rapid in 2020 when the harvested area increased by 21% against the previous year. As a result, the harvested area attained the peak level of X ha. From 2021 to 2022, the growth of the paddy rice harvested area failed to regain momentum.

Paddy Rice Exports

Exports from Greece

In 2022, overseas shipments of paddy rice decreased by -32.5% to X tons, falling for the second consecutive year after five years of growth. Over the period under review, exports, however, saw a temperate expansion. The most prominent rate of growth was recorded in 2020 with an increase of 79% against the previous year. As a result, the exports reached the peak of X tons. From 2021 to 2022, the growth of the exports remained at a lower figure.

In value terms, paddy rice exports contracted to $X in 2022. In general, exports, however, saw buoyant growth. The growth pace was the most rapid in 2020 with an increase of 74%. As a result, the exports attained the peak of $X. From 2021 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Italy (X tons), Bulgaria (X tons) and Belgium (X tons) were the main destinations of paddy rice exports from Greece, with a combined 88% share of total exports. Portugal and France lagged somewhat behind, together accounting for a further 10%.

From 2012 to 2022, the biggest increases were recorded for Portugal (with a CAGR of +315.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Italy ($X), Bulgaria ($X) and Belgium ($X) appeared to be the largest markets for paddy rice exported from Greece worldwide, with a combined 87% share of total exports. Portugal and France lagged somewhat behind, together comprising a further 11%.

In terms of the main countries of destination, Portugal, with a CAGR of +396.2%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average paddy rice export price stood at $X per ton in 2022, increasing by 30% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.8%. As a result, the export price attained the peak level 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 France ($X per ton), while the average price for exports to Belgium ($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 France (+21.8%), while the prices for the other major destinations experienced more modest paces of growth.

Paddy Rice Imports

Imports into Greece

In 2022, purchases abroad of paddy rice increased by 0.7% to X tons, rising for the second consecutive year after three years of decline. In general, imports, however, showed a pronounced contraction. The most prominent rate of growth was recorded in 2017 with an increase of 443% against the previous year. As a result, imports attained the peak of X tons. From 2018 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, paddy rice imports surged to $X in 2022. Overall, imports, however, showed a mild decrease. The pace of growth was the most pronounced in 2017 when imports increased by 272% against the previous year. As a result, imports attained the peak of $X. From 2018 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, Italy (X tons) constituted the largest paddy rice supplier to Greece, accounting for a 73% share of total imports. Moreover, paddy rice imports from Italy exceeded the figures recorded by the second-largest supplier, Bulgaria (X tons), threefold.

From 2012 to 2022, the average annual rate of growth in terms of volume from Italy totaled -1.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Bulgaria (+6.2% per year) and the Netherlands (+131.5% per year).

In value terms, Italy ($X) constituted the largest supplier of paddy rice to Greece, comprising 70% of total imports. The second position in the ranking was held by the Netherlands ($X), with a 16% share of total imports.

From 2012 to 2022, the average annual growth rate of value from Italy was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+155.9% per year) and Bulgaria (+8.9% per year).

Import Prices by Country

In 2022, the average paddy rice import price amounted to $X per ton, with an increase of 35% against the previous year. In general, the import price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 an increase of 52%. The import price peaked at $X per ton in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

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 Netherlands ($X per ton), while the price for Bulgaria ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Turkey (+53.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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