The import of milled rice to Canada saw fluctuations between 2013 and 2023, with initial downturns, followed by a significant upswing from 2018 onwards. The value reached $383.42 million in 2023, reflecting a consistent growth trajectory in the recent years, marking a 2.98% year-on-year increase over 2022 and achieving a CAGR of 5.07% over the last five years.
Key variation data:
- Slight declines in 2015, 2016, and 2017 with recovery beginning in 2018.
- Noticeable growth from 2018, peaking significantly in 2019 and maintaining progressive increments thereafter.
- Continuing moderate growth expected with a projected CAGR of 2.21% over the next five years.
Future trends to watch for include potential impacts of global rice production fluctuations, changes in trade policies, and evolving consumer preferences toward different types of rice. Monitoring these factors will be crucial for accurately forecasting future import values.