Rice and Wheat Exporters Tap into Emerging Markets in Asia

As the world's largest continent and home to over half of the global population, Asia presents significant opportunities for rice and wheat exporters. In recent years, the rice and wheat trade in Asia has been expanding as countries in the region have shown a growing demand for these staples. This has encouraged rice and wheat exporters to expand their markets in Asia, with some tapping into emerging markets to diversify their customer base.

Rice and Wheat Trade in Asia
According to the Food and Agriculture Organization (FAO) of the United Nations, Asia accounts for over 90% of the world's rice production and consumption. The continent is also a major importer of wheat, with China, Indonesia, and the Philippines being among the top importers. In recent years, the rice and wheat trade in Asia has been growing, driven by rising demand for these staples due to population growth, urbanization, and changing dietary preferences. This has created new opportunities for rice and wheat exporters, who have been exploring ways to expand their markets in the region.

Rice and Wheat Export Statistics in Asia
The export statistics for rice and wheat in Asia are encouraging for exporters. According to the World Trade Organization (WTO), the value of rice exports from Asia increased from $22.5 billion in 2017 to $24.4 billion in 2019. Meanwhile, the value of wheat exports from Asia increased from $14.6 billion in 2017 to $16.1 billion in 2019.

These figures demonstrate the potential for rice and wheat exporters to tap into the growing demand for these staples in Asia. However, it is worth noting that the competition in the rice and wheat trade is intense, with many countries in the region being both major producers and importers of these staples.

Rice and Wheat Import Regulations in Asia
Exporters looking to enter the rice and wheat trade in Asia must navigate a complex regulatory environment. Each country in the region has its own regulations regarding the import of these staples, with some imposing tariffs or quotas on imports.

For example, India, one of the world's largest rice exporters, imposes a 70% tariff on imports of rice, which has made it challenging for other rice exporters to enter the Indian market. Similarly, China, another major rice importer, has implemented a quota system that limits the amount of rice that can be imported.

Emerging Markets for Rice and Wheat in Asia
Despite the challenges posed by the regulatory environment, rice and wheat exporters have been exploring emerging markets in Asia to diversify their customer base. One such market is Myanmar, which has been experiencing rapid economic growth in recent years and has a growing demand for rice and wheat.

According to the USDA, Myanmar's rice imports are expected to reach a record high of 2.5 million tons in the 2021/22 marketing year, up from 2.2 million tons the previous year. Meanwhile, wheat imports are expected to reach 1.5 million tons, up from 1.4 million tons the previous year.

Other emerging markets for rice and wheat in Asia include Cambodia, Laos, and Vietnam, which have also been experiencing economic growth and have a growing demand for these staples.

As the rice and wheat trade in Asia continues to grow, exporters are looking for ways to tap into this market and expand their customer base. While the regulatory environment in the region can be challenging, there are opportunities for exporters to enter emerging markets and meet the growing demand for these staples.

Rice and wheat are essential staples in many Asian countries, and as the population continues to grow and dietary preferences change, the demand for these staples is only set to increase. Therefore, there is a significant opportunity for rice and wheat exporters to expand their markets in Asia