MERCOSUR: Rice Market 2024

Rice Market Size in MERCOSUR

In 2023, the MERCOSUR rice market was finally on the rise to reach $X after two years of decline. The market value increased at an average annual rate of X% over the period from 2012 to 2023; the trend pattern remained consistent, with only minor fluctuations being recorded in certain years. The level of consumption peaked at $X in 2020; however, from 2021 to 2023, consumption stood at a somewhat lower figure.

Rice Production in MERCOSUR

In value terms, rice production amounted to $X in 2023 estimated in export price. The total output value increased at an average annual rate of X% over the period from 2012 to 2023; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2013 with an increase of X% against the previous year. As a result, production reached the peak level of $X. From 2014 to 2023, production growth failed to regain momentum.

Brazil (X tons) constituted the country with the largest volume of rice production, accounting for X% of total volume. Moreover, rice production in Brazil exceeded the figures recorded by the second-largest producer, Peru (X tons), threefold. Colombia (X tons) ranked third in terms of total production with a X% share.

In Brazil, rice production remained relatively stable over the period from 2012-2023. The remaining producing countries recorded the following average annual rates of production growth: Peru (X% per year) and Colombia (X% per year).

The average rice yield amounted to X tons per ha in 2023, surging by X% on the previous year. The yield figure increased at an average annual rate of X% over the period from 2012 to 2023; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed throughout the analyzed period. The pace of growth appeared the most rapid in 2015 when the yield increased by X%. Over the period under review, the rice yield reached the peak level at X tons per ha in 2021; afterwards, it flattened through to 2023. 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 amounted to X ha in 2023, increasing by X% against the previous year. In general, the harvested area, however, showed a mild contraction. The pace of growth appeared the most rapid in 2017 with an increase of X%. The level of harvested area peaked at X ha in 2013; however, from 2014 to 2023, the harvested area remained at a lower figure.

Rice Exports

Exports in MERCOSUR

In 2023, approx. X tons of rice were exported in MERCOSUR; shrinking by X% against the year before. The total export volume increased at an average annual rate of X% from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2022 when exports increased by X% against the previous year. As a result, the exports reached the peak of X tons, and then fell in the following year.

In value terms, rice exports expanded modestly to $X in 2023. Total exports indicated mild growth 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 2016 indices. The most prominent rate of growth was recorded in 2022 when exports increased by X% against the previous year. The level of export peaked in 2023 and is expected to retain growth in years to come.

Exports by Country

In 2023, Brazil (X tons), Uruguay (X tons) and Paraguay (X tons) was the major exporter of rice in MERCOSUR, achieving X% of total export. It was distantly followed by Guyana (X tons) and Argentina (X tons), together achieving a X% share of total exports. Suriname (X tons) followed a long way behind the leaders.

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

In value terms, the largest rice supplying countries in MERCOSUR were Brazil ($X), Uruguay ($X) and Paraguay ($X), together accounting for X% of total exports.

Among the main exporting countries, Paraguay, 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 export price in MERCOSUR stood at $X per ton in 2023, increasing by X% against the previous year. Over the period under review, the export price, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when the export price increased by X%. Over the period under review, the export prices attained the peak figure at $X per ton in 2013; however, from 2014 to 2023, the export prices failed to regain momentum.

Average prices varied somewhat amongst the major exporting countries. In 2023, major exporting countries recorded the following prices: in Argentina ($X per ton) and Guyana ($X per ton), while Brazil ($X per ton) and Paraguay ($X per ton) were amongst the lowest.

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

Rice Imports

Imports in MERCOSUR

In 2023, approx. X tons of rice were imported in MERCOSUR; growing by X% on the previous year's figure. The total import volume increased at an average annual rate of X% from 2012 to 2023; the trend pattern remained relatively stable, with only minor fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2016 with an increase of X% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2020; however, from 2021 to 2023, imports stood at a somewhat lower figure.

In value terms, rice imports surged 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. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Brazil was the main importing country with an import of around X tons, which accounted for X% of total imports. Venezuela (X tons) held a X% share (based on physical terms) of total imports, which put it in second place, followed by Chile (X%), Peru (X%) and Colombia (X%).

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

In value terms, the largest rice importing markets in MERCOSUR were Brazil ($X), Venezuela ($X) and Chile ($X), together comprising X% of total imports.

In terms of the main importing countries, Chile, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

The import price in MERCOSUR stood at $X per ton in 2023, picking up by X% against the previous year. In general, the import price recorded a relatively flat trend pattern. The level of import peaked at $X per ton in 2013; however, from 2014 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 Peru ($X per ton), while Venezuela ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Brazil (X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform