South America Rice Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

The South America rice market analysis the Production (Volume), Consumption (Value and Volume), and trade in terms of Import (Value and Volume), & Export (Value and Volume), and Price Trend analysis of rice. The market is segmented by geography into Brazil, Argentina, Uruguay, Chile, Peru and Rest of South America.

Market Snapshot

South America Rice Market Overview
Study Period: 2016 - 2026
Base Year: 2020
CAGR: 3.5 %

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Market Overview

The rice market in South America is estimated to record a CAGR of 3.5% during the forecast period (2021-2026).

The covid-19 has led to the increased demand for rice purchase in the region. As a result, there is a significant increase in rice prices. Therefore, to minimize these effects, governments in the region allowed free tariff rates on importing rice. For instance, Brazil has provided duty-free access for up to 400,000 tons of paddy and milled rice from all origins from December 2020.

Rice is grown as a major staple crop in most countries of South America. The crop is cultivated in the wet soils common in the lowlands of the region. The lowland rice expansion in the vast wetlands of Brazil (with a potential of 24 million hectares), the Andean countries (Bolivia, Ecuador, Peru, and Venezuela), and the River Plate Basin (Argentina, Paraguay, and Uruguay) would greatly influence the regional production of rice in the future. The tropical countries of the region account for the majority of demand. Rice consumption is income elastic in the region, as consumers tend to increase consumption as their incomes rise. The average yield in the region varies between 3.9 ton per hectare to 5 metric ton per hectare. Direct seeding and purchased inputs are used for cultivation across the region. Uruguay has gained the third-highest rice productivity in the world with an average of 8 metric ton per hectare of dry paddy rice in the last 5 years.

Scope of the report

Rice is cultivated as the major staple crop and has economic importance in the region. Compared to the other rice-growing regions in the world, rice cultivation on larger farms in tropical South America is predominantly mechanized. Countries like Brazil, Argentina, and Uruguay have increased their trade relationship with key African countries. Rice production (Volume), consumption (Value & Volume), trade (export-import) scenario (Value & Volume), and price trend analysis is also involved in the report. The value chain and seasonality of the crop and future of the rice market are considered.

Geography (Production Analysis (Volume), Consumption Analysis (Value & Volume), Import Analysis (Value & Volume), Export Analysis (Value & Volume) and Price Trend Analysis)
Brazil
Argentina
Chile
Peru
Rest of South America

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Key Market Trends

Analysis of Rice Production in the Region.

In South America, Brazil accounted for the leading producer of rice with 10,368 thousand metric ton, followed by Peru and Colombia. with the production of 3188 thousand metric ton and 3012 thousand metric tons in 2019. In Brazil, Peru, Colombia, Argentina, and Uruguay, rice is the majorly consumed crop as it provides 20% more calories than any other crop. Rice acts as a leading source of protein for the poorest of the tropical population, which accounts for 25% in the South American region. Therefore, these reasons have triggered the increasingly efficient rice production in the region with the adoption of modern varieties that are more resistant to climate change. Furthermore, as per FAO data, the yield of rice is increased from 5.50 metric ton per hectare in 2016 to 6.10 metric ton per hectare in 2018, it has enhanced the rice production in the region. However, due to bad weather conditions, rice production is decreased by 7.9% in 2019 over the previous year.

South America Rice Market Analysis

Brazil Dominates the Export in Terms of Volume in South America

In South America, Brazil, Uruguay, Paraguay, and Argentina are the major exporters of rice, among which Brazil is the largest producer and exporter. As per the ITC Trade Map, the export of rice from Brazil has witnessed a growth of about 100.66% during 2016-2020. In the past five years, Brazil exported rice worth USD 251,941 thousand from 2016 to USD 503,579 thousand in 2020 to countries like Venezuela, Peru, Senegal, United States, Mexico, and more. In 2020, Venezuela accounted for a 26.5% share of the total Brazil Exports. Further, with the continental proportions and the cutting-edge technology employed in industrial processes, the country is quickly able to expand its offer of grain in the face of the global demand, which, in turn, may boost Brazil exports and in turn may drive the South America rice market during the forecast period.

South America Rice Market Share

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Market Definition & Study Assumptions

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Market Drivers

    3. 4.3 Market Restraints

    4. 4.4 Value Chain Analysis

  5. 5. MARKET SEGMENTATION

    1. 5.1 Geography (Production Analysis (Volume), Consumption Analysis (Value & Volume), Import Analysis (Value & Volume), Export Analysis (Value & Volume) and Price Trend Analysis)

      1. 5.1.1 Brazil

      2. 5.1.2 Argentina

      3. 5.1.3 Chile

      4. 5.1.4 Peru

      5. 5.1.5 Rest of South America

  6. 6. MARKET OPPORTUNITIES AND FUTURE TRENDS

  7. 7. AN ASSESSMENT OF IMPACT OF COVID-19 ON THE MARKET

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Frequently Asked Questions

The South America Rice Market market is studied from 2016 - 2026.

The South America Rice Market is growing at a CAGR of 3.5% over the next 5 years.

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