The forecasted imports of rice in the husk to Canada show a declining trend from 2024 to 2028, decreasing from $117.25 thousand in 2024 to $93.85 thousand in 2028. The data for 2023 stood at $123 thousand. This translates to a year-on-year decrease of around 5% from 2024 onward. Over the five-year period, the compound annual growth rate (CAGR) is expected to average a decline of approximately 5.5% per year.
Future trends to watch for include:
- Influence of global market conditions and trade agreements on import prices and volumes.
- Impact of domestic rice production changes on import demand.
- Shifts in consumer preferences towards local or other imported rice varieties.
