Analyst Pin-board Growth opportunities for "professional" rice companies
Rice exports in 2020 grew due to the recovery of prices
In 2020, the country produced 27.1 million tons of rice, down by 1.9% YoY. In which, 20.85 million tons were consumed domestically. Bad weather conditions caused a saline drought at the beginning of the year and storms in the second half of the year, reducing the cultivated area. Export volume in the 1H reached 3.5 million tons, up by 5% YoY, thanks to the increase imports of other countries. Export prices increased continuously, causing many partners to switch to buying Indian rice in 4Q due to lower prices. The 2020 export turnover reached 3.12 billion USD, up by 11.2% YoY. The average price was 499 USD/ton (+13.4% YoY) and the volume was 6.25 million tons (-1.9% YoY).
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