In 2023, Italy imported rice valued at 185.09 million US Dollars. Observing the year-on-year variation, the import value increased by 2.75% compared to the previous year. This slight increase is part of a consistent growth trend observed over the past two years, with variations of 2.88% in 2022 and 3.03% in 2021. Analyzing the Compound Annual Growth Rate (CAGR) for the last five years, there has been an average annual growth rate of 3.47%. Looking forward, from 2024 to 2028, the forecasted data indicates a slower growth with a projected 5-year CAGR of 1.87%, translating to an overall growth rate of 9.71% by 2028.
Future trends to watch for:
- Potential fluctuations in global rice prices due to supply chain disruptions.
- Impact of changes in agricultural policies within the EU.
- Shift in consumer preferences towards alternative grains and their influence on rice demand.
- Trade agreements and tariffs affecting imports from key rice-exporting countries.
- Technological advancements in rice production and import logistics.