Rice production at the farm gate in China was valued at 64.41 billion euros in 2023. Over the past decade, rice production exhibited significant fluctuations. The CAGR from 2013 to 2019 displayed a consistent downfall, reflecting diminishing returns. The most significant decrease was observed between 2018 and 2019 at -1.97%, with a slight temporary increase in 2020 at 0.18%. However, the production trend showed a steady decline from 2021 to 2023, with yearly decreases of 2.65%, 2.11%, and 2.13%, respectively
Despite measures to stabilize production, the forecast for 2024 and beyond predicts a continued decline with a CAGR of -1.78% and a total contraction of 8.6% over the next five years, leading to a projected value of 57.6 billion euros by 2028.
Future trends to watch for include:
- Impact of climate change on rice yield and quality
- Adoption of advanced agricultural technologies
- Policy changes regarding subsidies and support for rice farmers
- Trends in domestic and global demand for rice
- Shift towards sustainable farming practices
