Greece: Rice Market 2024

Rice Market Size in Greece

For the fourth year in a row, the Greek rice market recorded growth in sales value, which increased by X% to $X in 2023. In general, consumption continues to indicate resilient growth. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Rice Production in Greece

In value terms, rice production fell to $X in 2023 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2017 when the production volume increased by X%. Over the period under review, production attained the maximum level at $X in 2022, and then contracted in the following year.

In 2023, the average yield of rice in Greece dropped slightly to X tons per ha, shrinking by X% against the previous year's figure. Over the period under review, the yield showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 with an increase of X%. As a result, the yield reached the peak level of X tons per ha. From 2018 to 2023, the growth of the average rice yield remained at a somewhat lower figure. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2023, the total area harvested in terms of rice production in Greece was estimated at X ha, picking up by X% against 2022. Overall, the harvested area saw a relatively flat trend pattern. The growth pace was the most rapid in 2020 when the harvested area increased by X% against the previous year. As a result, the harvested area attained the peak level of X ha. From 2021 to 2023, the growth of the rice harvested area remained at a lower figure.

Rice Exports

Exports from Greece

In 2023, overseas shipments of rice decreased by X% to X tons, falling for the second consecutive year after two years of growth. In general, exports recorded a pronounced descent. The pace of growth was the most pronounced in 2017 with an increase of X% against the previous year. As a result, the exports reached the peak of X tons. From 2018 to 2023, the growth of the exports remained at a lower figure.

In value terms, rice exports amounted to $X in 2023. The total export value increased at an average annual rate of X% over the period from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2017 with an increase of X% against the previous year. Over the period under review, the exports attained the maximum in 2023 and are expected to retain growth in the immediate term.

Exports by Country

Turkey (X tons), Bulgaria (X tons) and Italy (X tons) were the main destinations of rice exports from Greece, with a combined X% share of total exports. Jordan, Poland, the Netherlands, the UK, Finland, the Czech Republic, Belgium, Spain, France and Cyprus lagged somewhat behind, together comprising a further X%.

From 2012 to 2023, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Jordan (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, Turkey ($X) emerged as the key foreign market for rice exports from Greece, comprising X% of total exports. The second position in the ranking was taken by Bulgaria ($X), with an X% share of total exports. It was followed by Italy, with an X% share.

From 2012 to 2023, the average annual growth rate of value to Turkey totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bulgaria (X% per year) and Italy (X% per year).

Export Prices by Country

In 2023, the average rice export price amounted to $X per ton, jumping by X% against the previous year. Overall, export price indicated a noticeable increase 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. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Cyprus ($X per ton), while the average price for exports to the Czech Republic ($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 Turkey (X%), while the prices for the other major destinations experienced more modest paces of growth.

Rice Imports

Imports into Greece

In 2023, imports of rice into Greece fell to X tons, with a decrease of X% compared with 2022. Overall, total imports indicated notable growth from 2012 to 2023: its volume 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, imports increased by X% against 2021 indices. The pace of growth appeared the most rapid in 2022 with an increase of X% against the previous year. Over the period under review, imports attained the maximum at X tons in 2020; however, from 2021 to 2023, imports failed to regain momentum.

In value terms, rice imports rose markedly to $X in 2023. Over the period under review, total imports indicated moderate growth from 2012 to 2023: its value 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, imports increased by X% against 2021 indices. The most prominent rate of growth was recorded in 2022 with an increase of X% against the previous year. Over the period under review, imports attained the peak figure in 2023 and are likely to continue growth in years to come.

Imports by Country

Myanmar (X tons), Pakistan (X tons) and Cambodia (X tons) were the main suppliers of rice imports to Greece, with a combined X% share of total imports. India, Italy, Belgium, Bulgaria and Spain lagged somewhat behind, together comprising a further X%.

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

In value terms, Pakistan ($X), Myanmar ($X) and Italy ($X) appeared to be the largest rice suppliers to Greece, together comprising X% of total imports. Belgium, India, Cambodia, Bulgaria and Spain lagged somewhat behind, together comprising a further X%.

Spain, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, among 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, picking up by X% against the previous year. Over the period under review, the import price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of X%. The import price peaked at $X per ton in 2014; however, from 2015 to 2023, import prices failed to regain momentum.

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

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

Source: IndexBox Platform