20 Countries with Highest Rice Consumption Per Capita

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In this article, we will be covering the top 20 countries with highest rice consumption per capita. If you want to skip our detailed analysis of the rice industry and consumption trends, go directly to the Top 5 Countries with Highest Rice Consumption Per Capita.

Rice is one of the most widely consumed staple foods in the world, particularly in Asia, where it forms a significant part of the diet. According to a report issued by IndustryARC, the size of the global rice industry stood at $293.8 billion in 2022. The industry is set to expand at a compound annual growth rate (CAGR) of 2.6% to reach a size of $356 billion by the end of this decade. Overall, the annual average rice consumption per person stands at 67.5 kg as of 2023. This translates into a daily rice consumption per capita of 184.9 grams. Many vegan and agricultural stocks, such as MGP Ingredients, Inc. (NASDAQ:MGPI), RiceBran Technologies (NASDAQ:RIBT), and Corteva, Inc. (NYSE:CTVA), are expected to benefit from the expanding rice industry. You can read more about the 10 Vegan Stocks Billionaires Are Buying here.

According to Cornell University, global rice production is expected to be around 503.3 million tons during the 2022/23 season. A report by Fitch Solutions Country Risk and Industry Research predicts that these production levels would result in a shortage of 8.7 million metric tons of rice during the season. The shortage can be attributed to an increase in global demand and production-related challenges in rice-producing countries like China and Pakistan. However, the industry is expected to overcome this shortfall in the 2023/24 season and reach a surplus in the 2024/25 season. Countries that eat rice every day, like Bangladesh and Vietnam, are particularly affected by the shortages and price increases. The price of rice in 2022 is still one-third higher than the price of the commodity during the pre-pandemic period between 2015 and 2019 due to the extensive drawdown of inventory during the pandemic. Furthermore, like all the other major commodities of the world, the prices of rice also observed an uptick following the start of the conflict between Russia and Ukraine in February 2022, as rice acted as a replacement for staples like wheat and corn. Russia and Ukraine were collectively responsible for 25% of the global trade of wheat and 20% of corn before the start of the conflict.

The consumption patterns of rice vary across different regions and cultures, but some general trends can be observed globally. Rice consumption in Asia accounts for 90% of global rice consumption, making the region the largest consumer of this staple food. Some of the countries with highest rice consumption per capita in Asia include Laos and Cambodia. Meanwhile, India also plays a significant role in the international rice trade. The country's rice production accounts for 40% of the global rice trade, according to a report by S&P Global. At the end of 2021, the country held 42.5 million tons of global rice stocks. However, due to India's rising population, it ranks much lower than other nations in Asia when it comes to rice consumption per capita by country.