![]() Among them, China would account for the largest amount of rice imports in 2021 with 2.9 million tons, followed by the EU (2.45 million tons), and the Philippines (2.2 million tons), with all of them being Vietnam’s major rice buyers. In contrast, global rice consumption and residual use during the period is projected to be a record 504.3 million tons, 0.4 million tons less than the previous forecast but eight million tons more than a year earlier.Ĭountries and territories that are expected to boost their rice imports include the Philippines (up 13%), Cote d’Ivoire (9.1%), Ghana (5.6%), and EU (2.1%). The US Department of Agriculture (USDA) released the latest projected data on its global rice outlook report.Īccording to the USDA, India is expected to remain the largest rice exporter of the world with 15.5 million tons, representing a surge of 940,000 tons year-on-year, while Thailand could be the third by exporting 6.1 million tons, up nearly 400,000 tons.įor the 2020-2021 period, global rice production is forecast to reach an all-time high of 504.2 million tons, down 0.24 million tons from the previous forecast but up 1% from a year earlier. Aside from enhanced production, government rules, and controllable prices from conventional suppliers, export operations are greatly aided by these reasons.Rice packaging for export at Trung An Hi-tech Farming Company. These key rice exporters have lower import taxes than other countries. According to our analysis, due to their proximity and competitive rates, India, Thailand, and Vietnam are typically the leading suppliers to the worldwide market. China, Myanmar, Cambodia, Uruguay, and Paraguay are involved. The export market in India, Thailand, Vietnam, Pakistan, and the United States is examined in our report. India, Thailand, and Vietnam Exports Experiences Significant Presence in the Market Through the Rice Competitiveness Enhancement Fund, the Philippines Department of Agriculture also implements projects to boost production through improved quality seeds, machinery, farm loans, and extension. According to our analysis, following quantitative limits on rice imports, the Philippines is the largest rice importer. The import markets for the Philippines, the EU-27, China, Nigeria, Cote d'Ivoire, Saudi Arabia, the United Arab Emirates, Iran, Iraq, and Senegal are all included in our report. Philippines Rice Import Forecast Extensive Market Despite the scenario, China, India, and Bangladesh remain the world's top three rice producers, according to our analysis. Furthermore, bad weather may lead to higher domestic pricing due to lower production, encouraging purchases from the global market. Production and domestic price variations may force countries to enter and depart the international market in substantial numbers. According to our research, China has continually been the world's most significant rice consumer.Ĭhina, India, and Bangladesh Key Producers in the Global Market China, India, Bangladesh, Indonesia, Vietnam, Philippines, Thailand, Myanmar, Japan, and Brazil are all covered in our report. A limited number of exporting countries engage with many importing countries in the global rice trade. Nonetheless, the worldwide rice trade has grown in volume. Unlike maize and wheat, most rice is consumed locally and does not enter foreign markets. ![]() Support from governments and other organizations in developing countries, technological advancements, and demand for higher-quality rice from Gulf countries during festive seasons drive the global rice industry. On the other hand, rice is a vital wage commodity and cash crop for workers in non-agricultural industries. Rice, a staple food in many industrialized and developing countries, has long been regarded as a strategic commodity, susceptible to various government controls and interventions. Global Rice Market Size is expanding at a CAGR of 4.97% from 2021 to 2027 As a result, Asia is referred to as 'Rice-producing Asia,' excluding Mongolia and Central Asia. Furthermore, most rice is farmed and consumed across Asia, from Pakistan to Japan. While most rice is consumed in the nations where it is grown, increased demand benefits the worldwide rice trade. Rice is the staple foodstuff of over half of the world's population, with over 700 million tons produced each year. 14, 2022 (GLOBE NEWSWIRE) - The "Rice Market, Size, Global Forecast 2022-2027, Industry Trends, Share, Growth, Insight, Impact of COVID-19, Company Analysis" report has been added to 's offering.Īs per the report, Global Rice Market will be US$ 315.6 Billion by the end of the year 2027.
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