Price for Cereal Groats and Meal; of Wheat in South Africa - 2024

Contents:

1. Price for Cereal Groats and Meal; of Wheat in South Africa (CIF) - 2024
2. Price for Cereal Groats and Meal; of Wheat in South Africa (FOB) - 2024
3. Imports of Cereal Groats and Meal; of Wheat in South Africa
4. Exports of Cereal Groats and Meal; of Wheat in South Africa

Price for Cereal Groats and Meal; of Wheat in South Africa (CIF) - 2024

In July 2023, the average import price for cereal groats and meal; of wheats amounted to $918 per ton, approximately reflecting the previous month. In general, the import price recorded a noticeable reduction. The pace of growth was the most pronounced in April 2023 when the average import price increased by 28% m-o-m. As a result, import price attained the peak level of $1,118 per ton. From May 2023 to July 2023, the average import prices remained at a lower figure.

As there is only one major supplying country, the average price level is determined by prices for Italy.

From January 2023 to July 2023, the rate of growth in terms of prices for Italy amounted to -2.6% per month.

Price for Cereal Groats and Meal; of Wheat in South Africa (FOB) - 2024

The average export price for cereal groats and meal; of wheats stood at $612 per ton in July 2023, growing by 4.7% against the previous month. In general, the export price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in May 2023 when the average export price increased by 54% month-to-month. As a result, the export price reached the peak level of $758 per ton. From June 2023 to July 2023, the the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In July 2023, the country with the highest price was Mozambique ($1,815 per ton), while the average price for exports to Lesotho totaled $605 per ton.

From January 2023 to July 2023, the most notable rate of growth in terms of prices was recorded for supplies to Zimbabwe (0.0%), while the prices for the other major destinations experienced a decline.

Imports of Cereal Groats and Meal; of Wheat in South Africa

In 2022, after three years of growth, there was significant decline in purchases abroad of cereal groats and meal; of wheats, when their volume decreased by -38.3% to 1.7K tons. Overall, total imports indicated a moderate increase from 2019 to 2022: its volume increased at an average annual rate of +3.1% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2020 with an increase of 35% against the previous year.

In value terms, imports of cereal groats and meal; of wheats declined to $1.7M in 2022. In general, total imports indicated significant growth from 2019 to 2022: its value increased at an average annual rate of +20.9% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +76.5% against 2019 indices. The most prominent rate of growth was recorded in 2021 with an increase of 49%. As a result, imports reached the peak of $1.7M, and then declined modestly in the following year.

Top Suppliers of Cereal Groats and Meal; of Wheat to South Africa in 2022:

1. Italy (1282.6 tons)
2. Turkey (439.1 tons)

Exports of Cereal Groats and Meal; of Wheat in South Africa

In 2022, shipments abroad of cereal groats and meal; of wheats decreased by -52% to 1.2K tons for the first time since 2018, thus ending a three-year rising trend. Over the period under review, exports, however, continue to indicate a significant increase. The pace of growth was the most pronounced in 2020 when exports increased by 777% against the previous year.

In value terms, exports of cereal groats and meal; of wheats declined to $780K in 2022. In general, exports, however, enjoyed significant growth. The most prominent rate of growth was recorded in 2020 when exports increased by 468% against the previous year. As a result, the exports reached the peak of $1.1M. From 2021 to 2022, the growth of the exports of remained at a somewhat lower figure.

Top Export Markets for Cereal Groats and Meal; of Wheat from South Africa in 2022:

1. Lesotho (1014.3 tons)
2. Mozambique (99.2 tons)
3. Gambia (29.5 tons)
4. Kenya (23.4 tons)
5. Saudi Arabia (22.9 tons)
6. Zimbabwe (19.9 tons)
7. Democratic Republic of the Congo (4.9 tons)

Source: IndexBox Market Intelligence Platform