Market Research Report
Italy Rice Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)
|Published by||Mordor Intelligence Pvt Ltd||Product code||1005607|
|Published||Content info||100 Pages
Delivery time: 2-3 business days
|Italy Rice Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)|
|Published: April 21, 2021||Content info: 100 Pages||
Italy rice market in Italy is projected to register a CAGR of 4.2% during the forecast period (2021-2026). COVID-19 has an impact on the whole process from the field to the consumer. It has affected food production, processing, distribution, and demand. An increase in the demand for rice by Italian rice importing countries and consumption of rice locally led to demand for rice purchase in the region. As a result, there is a significant increase in rice prices. Average rice production in Italy is 1.3 million metric ton, 53.0% of which is exported to other European countries. Rice cultivation is mostly located in Northern Italy (Piemonte, Lombardia, and Veneto regions) where water is relatively abundant and the rice crop can be raised in flooded fields. Approximately 84.0% of rice varieties grown in Italy are Japonica, while the remainder is Indica. One rice variety that is widely cultivated for domestic consumption is "Lungo A" grain. This broad category includes Carnaroli, Arborio, Baldo, S. Andrea, and Volano types.
Italy Dominates the Rice Market in Europe in Terms of Production Volume
Italy is the major rice producer in Europe with 1.4 million metric ton in 2019, which was 37.0% of total European rice production. The climate suitable for rice production is the major reason for its domination. Northern Italian regions, such as Piemonte, Lombardia, and Veneto are the leading rice-growing regions. Italy is also the leading rice exporter of Europe, with a total 2.9% export of its production in 2019. Some of the top rice importing countries from Italy are France, Germany, the United Kingdom, and Turkey. Increase in the demand of rice by Italian rice importing countries driving the rice market.
Growing Imports of the long Grain Rice Varieties
Italy depends on imports for specialty long grain Indica rice, such as basmati and jasmine, from Asian countries. According to the ITC Trade Map, Pakistan, Thailand, and India are the top rice importing partners of Italy with 36.7%, 12%, and 10.4% of importing value share in 2019. Production of good quality long grain rice, such as basmati, in those regions is the vital reason for importing from these countries. Rice imports from other countries, such as Cambodia, Myanmar, Guyana, and Suriname, are also noticed because of the duty-free market access under 'Everything But Arms' (EBA) agreement.