Market Research Report
Rice Trade Analysis - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)
|Published by||Mordor Intelligence Pvt Ltd||Product code||629154|
|Published||Content info||102 Pages
Delivery time: 2-3 business days
|Rice Trade Analysis - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)|
|Published: April 21, 2021||Content info: 102 Pages||
The global rice trade is projected to register a CAGR of 4.5% during the forecast period (2021-2026).
The global, COVID-19 pandemic, has resulted in imposing lockdown in several countries across the globe. Some governments have responded to the food security alarms and limited the exports to protect domestic supplies. The trade restrictions imposed have led to increase in prices , which in turn led the poor households into hunger. The global pandemic had a significant impact on ASEAN countries, where rice is the key staple food.
The Middle East & Africa account for nearly half of the total rice trade. Within rice varieties, Japonica accounts for the highest market share of the global rice trade (around 12.0%), followed by Basmati rice (around 10.0%) in 2018. Global trade in glutinous rice has been increasing over the past 3 years. Rice import scenario is quite fragmented, with the top five importers accounting for only 30.0% of the global imports.
Favorable Trade Policies
Rice has a critical role in food security, hence, it is politically sensitive and vulnerable to national government policy actions and private sector speculation almost all around the world. The international rice trade policies can be characterized by importing and exporting countries. While importing countries pursue market-stabilizing policies, exporting countries pursue policies to promote rice exports. Subsidies, credit guarantees, State-controlled trading monopolies, bans, or quotas on rice imports, etc., are among the many policy strategies implemented by nations to isolate their domestic markets from external competition and to boost exports. The government sets minimum support prices and provides input subsidies at the farm-level, coupled with policies on procurement, stocks, and distribution are driving the trade of rice, globally.
Thailand, Vietnam, India, Pakistan, and the US dominates the market in Exports
The top five rice exporters, Thailand, Vietnam, India, Pakistan, and the United States, represent 65.0% of the overall trade in rice. In spite of current uncertainties with respect to the effect of Thailand's plan and other rice approaches into the future, the country with its production resources and strong focus on quality and branding is expected to remain the best global rice exporter over the forecast period. The limited area under rice cultivation in the United States and Vietnam slowers the rice trade in the countries. Additionally, irrigation constraints in the United States also hamper the rice trade from the country.