Uruguay: Rice Market 2024

Rice Market Size in Uruguay

The Uruguayan rice market reduced notably to $X in 2022, waning by X% against the previous year. Overall, consumption showed a noticeable decline. Over the period under review, the market attained the maximum level at $X in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

Rice Production in Uruguay

In value terms, rice production stood at $X in 2022 estimated in export price. In general, production, however, showed buoyant growth. The most prominent rate of growth was recorded in 2017 when the production volume increased by X%. Over the period under review, production reached the maximum level at $X in 2020; afterwards, it flattened through to 2022.

The average yield of rice in Uruguay fell modestly to X tons per ha in 2022, with a decrease of X% against the previous year. The yield figure increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2021 when the yield increased by X%. As a result, the yield attained the peak level of X tons per ha, and then contracted 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 total area harvested in terms of rice production in Uruguay reached X ha, almost unchanged from 2021 figures. In general, the harvested area, however, saw a noticeable decline. The pace of growth appeared the most rapid in 2017 when the harvested area increased by X% against the previous year. The rice harvested area peaked at X ha in 2012; however, from 2013 to 2022, the harvested area failed to regain momentum.

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Rice Exports

Exports from Uruguay

In 2022, the amount of rice exported from Uruguay skyrocketed to X tons, with an increase of X% on the year before. In general, exports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 with an increase of X% against the previous year. Over the period under review, the exports attained the maximum in 2022 and are expected to retain growth in the immediate term.

In value terms, rice exports surged to $X in 2022. Overall, exports, however, showed a mild slump. The most prominent rate of growth was recorded in 2020 when exports increased by X% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Mexico (X tons), Brazil (X tons) and Venezuela (X tons) were the main destinations of rice exports from Uruguay, together comprising X% of total exports. Costa Rica, Cuba, Peru, the UK, Belgium, Turkey, the Netherlands, Sierra Leone, Iraq and Spain lagged somewhat behind, together comprising a further X%.

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

In value terms, Mexico ($X), Brazil ($X) and Venezuela ($X) constituted the largest markets for rice exported from Uruguay worldwide, with a combined X% share of total exports. Costa Rica, Peru, Cuba, the UK, Turkey, Belgium, the Netherlands, Sierra Leone, Iraq and Spain lagged somewhat behind, together accounting for a further X%.

Among the main countries of destination, Cuba, with a CAGR of X%, 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 rice export price stood at $X per ton in 2022, shrinking by X% against the previous year. In general, the export price recorded a mild downturn. The growth pace was the most rapid in 2021 an increase of X%. Over the period under review, the average export prices hit record highs at $X per ton in 2018; however, from 2019 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Turkey ($X per ton), while the average price for exports to Costa Rica ($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 Sierra Leone (X%), while the prices for the other major destinations experienced mixed trend patterns.

Rice Imports

Imports into Uruguay

In 2022, purchases abroad of rice decreased by X% to X tons, falling for the second consecutive year after five years of growth. Over the period under review, imports continue to indicate a deep contraction. The pace of growth appeared the most rapid in 2013 when imports increased by X%. As a result, imports attained the peak of X tons. From 2014 to 2022, the growth of imports failed to regain momentum.

In value terms, rice imports dropped rapidly to $X in 2022. In general, imports recorded a deep downturn. The growth pace was the most rapid in 2016 with an increase of X%. Imports peaked at $X in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Brazil (X tons) constituted the largest supplier of rice to Uruguay, with a X% share of total imports. Moreover, rice imports from Brazil exceeded the figures recorded by the second-largest supplier, the United States (X tons), twofold. The third position in this ranking was held by Argentina (X tons), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Brazil was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (X% per year) and Argentina (X% per year).

In value terms, the United States ($X), Brazil ($X) and Argentina ($X) constituted the largest rice suppliers to Uruguay, with a combined X% share of total imports.

Among the main suppliers, the United States, 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 a decline.

Import Prices by Country

In 2022, the average rice import price amounted to $X per ton, declining by X% against the previous year. In general, the import price, however, showed a temperate increase. The most prominent rate of growth was recorded in 2016 when the average import price increased by X%. Over the period under review, average import prices reached the maximum at $X per ton in 2014; however, from 2015 to 2022, import prices stood at a somewhat lower figure.

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 ($X per ton), while the price for Paraguay ($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 mixed trend patterns.

Source: IndexBox Platform

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