United Kingdom: Rice Market 2024

Rice Market Size in the UK

The UK rice market soared to $X in 2023, increasing by X% against the previous year. The market value increased at an average annual rate of X% over the period from 2012 to 2023; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market reached the maximum level in 2023 and is likely to see gradual growth in the immediate term.

Rice Production in the UK

In value terms, rice production fell modestly to $X in 2023 estimated in export price. Over the period under review, production, however, recorded slight growth. The pace of growth appeared the most rapid in 2019 when the production volume increased by X%. Over the period under review, production hit record highs at $X in 2014; however, from 2015 to 2023, production remained at a lower figure.

In 2023, the average rice yield in the UK totaled less than X kg per ha, remaining relatively unchanged against the year before. Over the period under review, the yield continues to indicate a relatively flat trend pattern. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

The rice harvested area in the UK amounted to less than X ha in 2023, approximately equating 2022. In general, the harvested area showed a relatively flat trend pattern.

Rice Exports

Exports from the UK

In 2023, exports of rice from the UK declined to X tons, with a decrease of X% against the previous year. In general, exports saw a slight contraction. The pace of growth appeared the most rapid in 2016 when exports increased by X% against the previous year. The exports peaked at X tons in 2017; however, from 2018 to 2023, the exports failed to regain momentum.

In value terms, rice exports rose significantly to $X in 2023. Over the period under review, total exports indicated a slight expansion from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, exports increased by X% against 2021 indices. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. The exports peaked at $X in 2014; however, from 2015 to 2023, the exports failed to regain momentum.

Exports by Country

Ireland (X tons), the Netherlands (X tons) and France (X tons) were the main destinations of rice exports from the UK, with a combined X% share of total exports.

From 2012 to 2023, the biggest increases were recorded for the Netherlands (with a CAGR of X%), while shipments for the other leaders experienced mixed trend patterns.

In value terms, Ireland ($X), the Netherlands ($X) and France ($X) appeared to be the largest markets for rice exported from the UK worldwide, together comprising X% of total exports.

The Netherlands, with a CAGR of X%, saw the highest growth rate of the value of exports, among the main countries of destination 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 2023, growing by X% against the previous year. Over the period under review, export price indicated perceptible growth from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, rice export price increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2018 an increase of X%. The export price peaked in 2023 and is expected to retain growth in years to come.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Canada ($X per ton), while the average price for exports to Italy ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Belgium (X%), while the prices for the other major destinations experienced more modest paces of growth.

Rice Imports

Imports into the UK

In 2023, approx. X tons of rice were imported into the UK; growing by X% on the previous year. Overall, imports saw a relatively flat trend pattern. The growth pace was the most rapid in 2017 with an increase of X%. Over the period under review, imports attained the peak figure at X tons in 2020; however, from 2021 to 2023, imports failed to regain momentum.

In value terms, rice imports skyrocketed to $X in 2023. The total import value increased at an average annual rate of X% over the period from 2012 to 2023; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2017 when imports increased by X% against the previous year. Over the period under review, imports reached the maximum in 2023 and are likely to see steady growth in years to come.

Imports by Country

India (X tons), Pakistan (X tons) and Uruguay (X tons) were the main suppliers of rice imports to the UK, together comprising X% of total imports. Italy, Myanmar, Thailand, Spain, Argentina, Cambodia, the United States, Guyana, the Netherlands and Belgium lagged somewhat behind, together comprising a further X%.

From 2012 to 2023, the biggest increases were recorded for Myanmar (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, India ($X), Pakistan ($X) and Italy ($X) were the largest rice suppliers to the UK, together accounting for X% of total imports. Spain, Uruguay, Thailand, Myanmar, Argentina, Cambodia, the United States, Guyana, the Netherlands and Belgium lagged somewhat behind, together comprising a further X%.

Myanmar, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2023, the average rice import price amounted to $X per ton, surging by X% against the previous year. Over the period from 2012 to 2023, it increased at an average annual rate of X%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the Netherlands ($X per ton), while the price for Myanmar ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Spain (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform