Price for Cereal Groats and Meal; of Wheat in Spain - 2023

Contents:

1. Price for Cereal Groats and Meal; of Wheat in Spain (FOB) - 2023
2. Price for Cereal Groats and Meal; of Wheat in Spain (CIF) - 2023
3. Exports of Cereal Groats and Meal; of Wheat in Spain
4. Imports of Cereal Groats and Meal; of Wheat in Spain

Price for Cereal Groats and Meal; of Wheat in Spain (FOB) - 2023

In September 2023, the average export price for cereal groats and meal; of wheats amounted to $748 per ton, growing by 4.2% against the previous month. Overall, the export price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in June 2023 when the average export price increased by 5.2% month-to-month. The export price peaked at $802 per ton in December 2022; however, from January 2023 to September 2023, the export prices stood at a somewhat lower figure.

Prices varied noticeably by the country of destination: the country with the highest price was Germany ($991 per ton), while the average price for exports to Mali ($601 per ton) was amongst the lowest.

From December 2022 to September 2023, the most notable rate of growth in terms of prices was recorded for supplies to Belgium (+4.6%), while the prices for the other major destinations experienced more modest paces of growth.

Price for Cereal Groats and Meal; of Wheat in Spain (CIF) - 2023

The average import price for cereal groats and meal; of wheats stood at $483 per ton in September 2023, shrinking by -8.3% against the previous month. Over the period from December 2022 to September 2023, it increased at an average monthly rate of +2.5%. The growth pace was the most rapid in July 2023 when the average import price increased by 34% month-to-month. As a result, import price attained the peak level of $611 per ton. From August 2023 to September 2023, the average import prices failed to regain momentum.

Prices varied noticeably by the country of origin: the country with the highest price was Italy ($1,007 per ton), while the price for Portugal ($275 per ton) was amongst the lowest.

From December 2022 to September 2023, the most notable rate of growth in terms of prices was attained by Italy (+2.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Exports of Cereal Groats and Meal; of Wheat in Spain

In 2022, overseas shipments of cereal groats and meal; of wheats decreased by -46.3% to 45K tons, falling for the second year in a row after two years of growth. In general, exports recorded a abrupt decrease. The pace of growth appeared the most rapid in 2020 when exports increased by 9.3%. As a result, the exports attained the peak of 94K tons. From 2021 to 2022, the growth of the exports of failed to regain momentum.

In value terms, exports of cereal groats and meal; of wheats dropped markedly to $34M in 2022. Over the period under review, exports continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 when exports increased by 26% against the previous year.

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

1. France (24.0K tons)
2. Mali (10.2K tons)
3. Senegal (5.5K tons)
4. Benin (1.6K tons)
5. Portugal (1.0K tons)
6. Belgium (1.0K tons)
7. Poland (0.8K tons)

Imports of Cereal Groats and Meal; of Wheat in Spain

Imports of cereal groats and meal; of wheats into Spain surged to 14K tons in 2022, with an increase of 32% on the year before. Overall, total imports indicated a prominent expansion from 2019 to 2022: its volume increased at an average annual rate of +18.2% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +65.2% against 2019 indices. The pace of growth appeared the most rapid in 2020 with an increase of 37%. Imports peaked in 2022 and are expected to retain growth in the immediate term.

In value terms, imports of cereal groats and meal; of wheats soared to $7M in 2022. Over the period under review, imports enjoyed significant growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

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

1. Portugal (6.7K tons)
2. Italy (2.3K tons)
3. France (2.2K tons)
4. Egypt (1.7K tons)
5. Netherlands (0.4K tons)

Source: IndexBox Market Intelligence Platform