The forecasted supply of milled rice in Canada is projected to increase steadily from 457 thousand metric tons in 2024 to 478 thousand metric tons by 2028. In 2023, the supply stood at 452 thousand metric tons. The year-on-year growth rate over the past year has been approximately 1.1%, while the average annual growth rate over the last two years has been around 1.2%. Considering a five-year period, the compound annual growth rate (CAGR) stands at approximately 1.4%.
Future trends to watch for include potential changes in consumer preferences, import policies, and domestic production capabilities, which could all impact the supply dynamics. Monitoring global rice production and trade agreements will also be essential for anticipating shifts in Canada's rice supply. Additionally, keeping an eye on technological advancements in agriculture and distribution efficiencies might provide further insights into future supply trends.
