Between 2013 and 2023, the value of milled rice imports to the UK exhibited minor fluctuations but remained relatively stable. The value stood at 251.12 million USD in 2023. Year-on-year variations were generally modest, with the last two years showing increases of 0.94% and 0.91%. Over 2020-2023, the compounded annual growth rate (CAGR) was 1.1%, indicating limited but consistent growth. The forecast from 2024 onwards suggests a continued upward trend, with a predicted CAGR of 0.66% over the next five years, culminating in a 3.32% increase in total value by 2028.
Future trends to watch for include:
- Potential impacts of trade policies and tariffs on import values.
- Shifts in consumer preferences towards different types of rice.
- Possible supply chain disruptions affecting import volume and costs.
- Developments in domestic rice production in the UK, which could influence import needs.