GCC: Paddy Rice Market 2024

Paddy Rice Market Size in GCC

The GCC paddy rice market declined notably to $X in 2023, reducing by X% against the previous year. In general, consumption continues to indicate a noticeable slump. Over the period under review, the market reached the peak level at $X in 2015; however, from 2016 to 2023, consumption failed to regain momentum.

Paddy Rice Production in GCC

In value terms, paddy rice production reduced remarkably to $X in 2023 estimated in export price. Over the period under review, production, however, continues to indicate a significant expansion. The most prominent rate of growth was recorded in 2022 when the production volume increased by X% against the previous year. As a result, production attained the peak level of $X, and then reduced dramatically in the following year.

The countries with the highest volumes of production in 2023 were the United Arab Emirates (X tons), Oman (X tons) and Saudi Arabia (X tons), with a combined X% share of total production.

From 2012 to 2023, the most notable rate of growth in terms of production, amongst the leading producing countries, was attained by the United Arab Emirates (with a CAGR of X%), while production for the other leaders experienced more modest paces of growth.

Paddy Rice Exports

Exports in GCC

In 2023, shipments abroad of paddy rice decreased by X% to X tons for the first time since 2019, thus ending a three-year rising trend. Overall, exports showed a slight contraction. The pace of growth was the most pronounced in 2021 when exports increased by X%. Over the period under review, the exports reached the peak figure at X tons in 2013; however, from 2014 to 2023, the exports remained at a lower figure.

In value terms, paddy rice exports declined significantly to $X in 2023. Over the period under review, exports, however, enjoyed measured growth. The pace of growth appeared the most rapid in 2021 when exports increased by X%. The level of export peaked at $X in 2013; however, from 2014 to 2023, the exports stood at a somewhat lower figure.

Exports by Country

In 2023, the United Arab Emirates (X tons) represented the major exporter of paddy rice, generating X% of total exports. Saudi Arabia (X tons) took the second position in the ranking, distantly followed by Oman (X tons). All these countries together held near X% share of total exports. Kuwait (X tons) took a relatively small share of total exports.

The United Arab Emirates experienced a relatively flat trend pattern with regard to volume of exports of paddy rice. At the same time, Kuwait (X%) displayed positive paces of growth. Moreover, Kuwait emerged as the fastest-growing exporter exported in GCC, with a CAGR of X% from 2012-2023. Saudi Arabia experienced a relatively flat trend pattern. By contrast, Oman (X%) illustrated a downward trend over the same period. The United Arab Emirates (X p.p.), Saudi Arabia (X p.p.) and Kuwait (X p.p.) significantly strengthened its position in terms of the total exports, while Oman saw its share reduced by X% from 2012 to 2023, respectively.

In value terms, the United Arab Emirates ($X) remains the largest paddy rice supplier in GCC, comprising X% of total exports. The second position in the ranking was taken by Saudi Arabia ($X), with an X% share of total exports. It was followed by Oman, with an X% share.

From 2012 to 2023, the average annual growth rate of value in the United Arab Emirates amounted to X%. The remaining exporting countries recorded the following average annual rates of exports growth: Saudi Arabia (X% per year) and Oman (X% per year).

Export Prices by Country

The export price in GCC stood at $X per ton in 2023, with an increase of X% against the previous year. Overall, the export price enjoyed buoyant growth. The pace of growth was the most pronounced in 2019 when the export price increased by X% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2020 to 2023, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Kuwait ($X per ton), while Saudi Arabia ($X per ton) was amongst the lowest.

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

Paddy Rice Imports

Imports in GCC

In 2023, purchases abroad of paddy rice was finally on the rise to reach X tons for the first time since 2020, thus ending a two-year declining trend. In general, imports, however, recorded a abrupt curtailment. The pace of growth appeared the most rapid in 2015 when imports increased by X% against the previous year. As a result, imports attained the peak of X tons. From 2016 to 2023, the growth of imports remained at a somewhat lower figure.

In value terms, paddy rice imports fell to $X in 2023. Overall, imports, however, saw a abrupt curtailment. 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 in 2015; however, from 2016 to 2023, imports remained at a lower figure.

Imports by Country

The United Arab Emirates (X tons) and Saudi Arabia (X tons) prevails in imports structure, together mixing up X% of total imports. The following importers - Kuwait (X tons) and Oman (X tons) - each accounted for a X% share of total imports.

From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by the United Arab Emirates (with a CAGR of X%), while imports for the other leaders experienced a decline in the imports figures.

In value terms, Saudi Arabia ($X) constitutes the largest market for imported paddy rice in GCC, comprising X% of total imports. The second position in the ranking was taken by the United Arab Emirates ($X), with a X% share of total imports. It was followed by Oman, with a X% share.

In Saudi Arabia, paddy rice imports contracted by an average annual rate of X% over the period from 2012-2023. The remaining importing countries recorded the following average annual rates of imports growth: the United Arab Emirates (X% per year) and Oman (X% per year).

Import Prices by Country

The import price in GCC stood at $X per ton in 2023, shrinking by X% against the previous year. Overall, the import price saw a pronounced contraction. The pace of growth appeared the most rapid in 2022 when the import price increased by X% against the previous year. Over the period under review, import prices reached the peak figure at $X per ton in 2014; however, from 2015 to 2023, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was Oman ($X per ton), while the United Arab Emirates ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform