Brazil's rice import market value was $230 million in 2023. Forecasts indicate a gradual decline from 2024 to 2028, dropping from $228.24 million in 2024 to $217.85 million in 2028. This represents a consistent annual decline in the value of rice imports.
Year-on-year variations to note:
- 2024: -0.76%
- 2025: -1.17%
- 2026: -1.16%
- 2027: -1.15%
- 2028: -1.14%
The Compound Annual Growth Rate (CAGR) over the five-year period indicates an average annual decline of approximately -1.12%. This downward trend may be influenced by Brazil's increasing domestic production, improved agricultural practices, and possible reducing dependence on rice imports.
Future trends to watch for include possible shifts in government policy regarding agricultural subsidies, changes in bilateral trade agreements, and impacts from climate change on domestic rice production. Additionally, trends in consumer preferences toward different types of grains and commodities could also affect future import volumes and values.