South-Eastern Asia: Rice Market 2024

Rice Market Size in South-Eastern Asia

The Southeast Asian rice market contracted slightly to $X in 2022, which is down by X% against the previous year. Over the period under review, consumption showed a mild shrinkage. As a result, consumption reached the peak level of $X. From 2019 to 2022, the growth of the market remained at a lower figure.

Rice Production in South-Eastern Asia

In value terms, rice production dropped slightly to $X in 2022 estimated in export price. Overall, production showed a pronounced setback. The pace of growth was the most pronounced in 2018 when the production volume increased by X% against the previous year. The level of production peaked at $X in 2014; however, from 2015 to 2022, production remained at a lower figure.

The countries with the highest volumes of production in 2022 were Indonesia (X tons), Vietnam (X tons) and Thailand (X tons), with a combined X% share of total production. Myanmar, the Philippines, Cambodia and Lao People's Democratic Republic lagged somewhat behind, together accounting for a further X%.

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

The average rice yield contracted slightly to X tons per ha in 2022, therefore, remained relatively stable against the previous year. Over the period under review, the yield, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2018 when the yield increased by X%. The level of yield peaked at X tons per ha in 2015; afterwards, it flattened through to 2022. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, the rice harvested area in South-Eastern Asia declined to X ha, leveling off at 2021 figures. In general, the harvested area saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 with an increase of X%. Over the period under review, the harvested area dedicated to rice production reached the peak figure at X ha in 2012; however, from 2013 to 2022, the harvested area failed to regain momentum.

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Rice Exports

Exports in South-Eastern Asia

In 2022, overseas shipments of rice increased by X% to X tons, rising for the second consecutive year after three years of decline. The total export volume increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2014 when exports increased by X%. Over the period under review, the exports hit record highs at X tons in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

In value terms, rice exports totaled $X in 2022. In general, exports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when exports increased by X%. The level of export peaked at $X in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

Exports by Country

In 2022, Thailand (X tons) and Vietnam (X tons) were the key exporters of rice in South-Eastern Asia, together finishing at approx. X% of total exports. It was distantly followed by Myanmar (X tons), making up a X% share of total exports. Cambodia (X tons) held a minor share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Myanmar (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, Thailand ($X), Vietnam ($X) and Myanmar ($X) constituted the countries with the highest levels of exports in 2022, together comprising X% of total exports. These countries were followed by Cambodia, which accounted for a further X%.

Cambodia, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

In 2022, the export price in South-Eastern Asia amounted to $X per ton, with a decrease of X% against the previous year. Overall, the export price recorded a slight shrinkage. The pace of growth was the most pronounced in 2018 an increase of X%. The level of export peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Cambodia ($X per ton), while Myanmar ($X per ton) was amongst the lowest.

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

Rice Imports

Imports in South-Eastern Asia

In 2022, approx. X tons of rice were imported in South-Eastern Asia; waning by X% compared with the previous year's figure. Over the period under review, imports showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when imports increased by X% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, rice imports reached $X in 2022. In general, imports, however, showed a tangible expansion. The growth pace was the most rapid in 2018 when imports increased by X% against the previous year. The level of import peaked in 2022 and is expected to retain growth in the immediate term.

Imports by Country

The purchases of the three major importers of rice, namely Malaysia, the Philippines and Vietnam, represented more than two-thirds of total import. Indonesia (X tons) took a X% share (based on physical terms) of total imports, which put it in second place, followed by Singapore (X%). Timor-Leste (X tons) and Lao People's Democratic Republic (X tons) held a minor share of total imports.

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

In value terms, the Philippines ($X), Vietnam ($X) and Malaysia ($X) were the countries with the highest levels of imports in 2022, together accounting for X% of total imports.

Vietnam, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in South-Eastern Asia amounted to $X per ton, increasing by X% against the previous year. Import price indicated a tangible expansion 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 import price increased by X% against 2019 indices. The growth pace was the most rapid in 2017 when the import price increased by X%. The level of import peaked in 2022 and is likely to see steady growth in years to come.

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 the Philippines ($X per ton), while Timor-Leste ($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 Philippines (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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