Rice consumption at the farm gate in Australia stood at 1380 thousand metric tons in 2023. From 2013 to 2023, rice consumption demonstrated significant growth with notable variations. The year-on-year increase was 4.13% in 2023. Over the past two years, consumption grew on average by 4.25% per year. The compound annual growth rate (CAGR) for the last five years is 2.66%. Forecasted data indicate this upward trend will continue, with a projected CAGR of 2.79%, reaching 1650 thousand metric tons by 2028.
Future trends to watch for include potential changes in dietary preferences, impacts of agricultural policies, and climatic conditions affecting rice production. Additionally, the role of technological advancements in farming practices may contribute to shifts in production efficiency and supply chain dynamics.
