Latin America and the Caribbean: Paddy Rice Market 2024

Paddy Rice Market Size in Latin America and the Caribbean

The Latin American paddy rice market was estimated at $X in 2022, growing by X% against the previous year. Over the period under review, consumption, however, showed a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2021 to 2022, the growth of the market remained at a somewhat lower figure.

Paddy Rice Production in Latin America and the Caribbean

In value terms, paddy rice production surged to $X in 2022 estimated in export price. In general, production, however, posted a temperate expansion. The most prominent rate of growth was recorded in 2020 when the production volume increased by X%. As a result, production reached the peak level of $X. From 2021 to 2022, production growth remained at a lower figure.

The country with the largest volume of paddy rice production was Brazil (X tons), comprising approx. X% of total volume. Moreover, paddy rice production in Brazil exceeded the figures recorded by the second-largest producer, Peru (X tons), threefold. The third position in this ranking was held by Colombia (X tons), with a X% share.

In Brazil, paddy rice production remained relatively stable over the period from 2012-2022. The remaining producing countries recorded the following average annual rates of production growth: Peru (X% per year) and Colombia (X% per year).

The average paddy rice yield contracted modestly to X tons per ha in 2022, waning by X% against the year before. The yield figure increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. The growth pace was the most rapid in 2015 when the yield increased by X%. The level of yield peaked at X tons per ha in 2021, and then shrank modestly in the following year. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, the paddy rice harvested area in Latin America and the Caribbean was estimated at X ha, remaining constant against the previous year. Over the period under review, the harvested area, however, recorded a mild decline. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. 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 2022, the harvested area remained at a lower figure.

Paddy Rice Exports

Exports in Latin America and the Caribbean

In 2022, the amount of paddy rice exported in Latin America and the Caribbean soared to X tons, increasing by X% on the year before. In general, exports enjoyed a resilient increase. The pace of growth was the most pronounced in 2018 with an increase of X%. Over the period under review, the exports hit record highs in 2022 and are likely to see steady growth in the near future.

In value terms, paddy rice exports skyrocketed to $X in 2022. Overall, exports continue to indicate a prominent increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Brazil represented the key exporter of paddy rice in Latin America and the Caribbean, with the volume of exports accounting for X tons, which was approx. X% of total exports in 2022. Uruguay (X tons) ranks second in terms of the total exports with a X% share, followed by Paraguay (X%) and Guyana (X%).

Brazil was also the fastest-growing in terms of the paddy rice exports, with a CAGR of X% from 2012 to 2022. At the same time, Paraguay (X%) and Uruguay (X%) displayed positive paces of growth. By contrast, Guyana (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Brazil and Guyana increased by X and X percentage points, respectively.

In value terms, Brazil ($X) remains the largest paddy rice supplier in Latin America and the Caribbean, comprising X% of total exports. The second position in the ranking was held by Uruguay ($X), with a X% share of total exports. It was followed by Guyana, with a X% share.

From 2012 to 2022, the average annual growth rate of value in Brazil stood at X%. The remaining exporting countries recorded the following average annual rates of exports growth: Uruguay (X% per year) and Guyana (X% per year).

Export Prices by Country

In 2022, the export price in Latin America and the Caribbean amounted to $X per ton, picking up by X% against the previous year. In general, the export price, however, recorded a noticeable decline. The pace of growth was the most pronounced in 2021 when the export price increased by X%. Over the period under review, the export prices reached the peak figure at $X per ton in 2014; however, from 2015 to 2022, the export prices remained at a lower figure.

Average prices varied somewhat amongst the major exporting countries. In 2022, major exporting countries recorded the following prices: in Guyana ($X per ton) and Brazil ($X per ton), while Paraguay ($X per ton) and Uruguay ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Brazil (X%), while the other leaders experienced a decline in the export price figures.

Paddy Rice Imports

Imports in Latin America and the Caribbean

Paddy rice imports fell dramatically to X tons in 2022, waning by X% against 2021. In general, imports, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 when imports increased by X%. 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, paddy rice imports reduced to $X in 2022. Overall, imports, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 with an increase of X%. As a result, imports attained the peak of $X. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

Mexico (X tons) and Venezuela (X tons) were the largest importers of paddy rice in 2022, amounting to near X% and X% of total imports, respectively. It was distantly followed by Costa Rica (X tons), Honduras (X tons), Guatemala (X tons), Colombia (X tons), Nicaragua (X tons) and El Salvador (X tons), together constituting a X% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Colombia (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Mexico ($X), Venezuela ($X) and Costa Rica ($X) appeared to be the countries with the highest levels of imports in 2022, together accounting for X% of total imports. Guatemala, Colombia, Honduras, Nicaragua and El Salvador lagged somewhat behind, together accounting for a further X%.

Among the main importing countries, Colombia, with a CAGR of X%, saw 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 import price in Latin America and the Caribbean stood at $X per ton in 2022, growing by X% against the previous year. Overall, the import price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 an increase of X%. Over the period under review, import prices hit record highs at $X per ton in 2014; however, from 2015 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Nicaragua ($X per ton), while Venezuela ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Nicaragua (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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