The Middle East and Africa together account for nearly half of the total rice trade. Within rice varieties, Japonica rice accounts for the highest share of the global rice trade (around 12%), followed by Basmati rice (around 10%). World 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% of the global imports.
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. Strategies like subsidies, credit guarantees and State controlled trading monopolies, bans or quotas on rice imports, etc. are among policy strategies implemented 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.
The top five rice exporters, Thailand, Vietnam, India, Pakistan, and the US represent 85% of the overall trade in rice. In spite of current uncertainties with regard 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 as worldwide rice exporter over the time frame. Slower rice trade development is normal for Vietnam and the US because of area limitations, and irrigation constraints on account of the US. Worldwide net rice exports are anticipated to develop by 9.3 million metric ton over the benchmark time frame.
Key Topics Covered:
2. Research Scope & Methodology
3. Trade Dynamics
4. Market Segmentation
5. Future Outlook
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