United Kingdom - Wheat - Market Analysis, Forecast, Size, Trends and Insights
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View PricingWheat Price in the UK - 2023
Contents:
- Wheat Price in the UK (CIF) - 2023
- Wheat Price in the UK (FOB) - 2022
- Wheat Imports in the UK
- Wheat Exports in the UK
Wheat Price in the UK (CIF) - 2023
In August 2023, the average wheat import price amounted to $342 per ton, which is down by -17.1% against the previous month. Overall, the import price showed a noticeable curtailment. The pace of growth was the most pronounced in December 2022 when the average import price increased by 9.5% against the previous month. Over the period under review, average import prices hit record highs at $494 per ton in August 2022; however, from September 2022 to August 2023, import prices failed to regain momentum.
Average prices varied somewhat amongst the major supplying countries. In August 2023, the highest price was recorded for prices from Turkey ($390 per ton) and Canada ($387 per ton), while the price for Poland ($296 per ton) and Ireland ($307 per ton) were amongst the lowest.
From August 2022 to August 2023, the most notable rate of growth in terms of prices was attained by Denmark (+10.9%), while the prices for the other major suppliers experienced a decline.
Wheat Price in the UK (FOB) - 2022
In 2022, the average wheat export price amounted to $323 per ton, approximately equating the previous year. Overall, export price indicated a modest expansion from 2012 to 2022: its price increased at an average annual rate of +1.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, wheat export price increased by +81.1% against 2016 indices. The growth pace was the most rapid in 2020 when the average export price increased by 24%. Over the period under review, the average export prices hit record highs at $328 per ton in 2021, and then fell modestly in the following year.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($496 per ton), while the average price for exports to the Netherlands ($249 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+5.9%), while the prices for the other major destinations experienced more modest paces of growth.
Wheat Imports in the UK
In 2022, purchases abroad of wheat decreased by -20.7% to 1.6M tons, falling for the second year in a row after two years of growth. Overall, total imports indicated a prominent increase from 2019 to 2022: its volume increased at an average annual rate of +10.2% 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 decreased by -23.4% against 2020 indices. The pace of growth was the most pronounced in 2020 when imports increased by 75%. As a result, imports attained the peak of 2.1M tons. From 2021 to 2022, the growth of imports failed to regain momentum.
In value terms, wheat imports rose remarkably to $688M in 2022. Over the period under review, imports, however, enjoyed a significant increase. The pace of growth appeared the most rapid in 2020 when imports increased by 67%. Over the period under review, imports reached the peak figure in 2022 and are expected to retain growth in the immediate term.
| Import of Wheat in the UK (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Canada | 103 | 142 | 200 | 264 | 36.9% |
| France | 52.0 | 44.3 | 108 | 132 | 36.4% |
| Germany | 42.5 | 119 | 95.3 | 122 | 42.1% |
| Denmark | 7.0 | 117 | 103 | 95.7 | 139.1% |
| Romania | 4.1 | 11.6 | 13.6 | 17.0 | 60.7% |
| Ireland | 14.5 | 11.2 | 22.3 | 11.0 | -8.8% |
| Ukraine | 15.5 | 8.5 | 12.2 | 1.8 | -51.2% |
| Bulgaria | 29.7 | 13.7 | N/A | N/A | -53.9% |
| Others | 50.0 | 66.7 | 94.8 | 44.5 | -3.8% |
| Total | 319 | 534 | 648 | 688 | 29.2% |
Top Suppliers of Wheat to the UK in 2022:
- Canada (530.2K tons)
- France (329.6K tons)
- Denmark (309.5K tons)
- Germany (306.7K tons)
- Romania (34.5K tons)
- Ireland (32.5K tons)
- Ukraine (2.7K tons)
Wheat Exports in the UK
In 2022, overseas shipments of wheat were finally on the rise to reach 962K tons after two years of decline. Over the period under review, exports, however, saw a noticeable descent.
In value terms, wheat exports surged to $311M in 2022. Overall, exports continue to indicate a prominent expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.
| Export of Wheat in the UK (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Spain | 56.1 | 15.1 | 34.4 | 110 | 25.2% |
| Netherlands | 65.7 | 13.5 | 6.7 | 72.3 | 3.2% |
| Ireland | 41.7 | 42.0 | 35.9 | 64.1 | 15.4% |
| Portugal | 23.4 | 5.8 | 7.4 | 19.7 | -5.6% |
| Belgium | 3.8 | 3.6 | 2.0 | 13.2 | 51.4% |
| Algeria | 11.5 | 7.5 | N/A | 11.6 | 0.3% |
| United States | 9.2 | 0.1 | 0.2 | 0.1 | -77.8% |
| Others | 21.6 | 31.2 | 1.4 | 19.7 | -3.0% |
| Total | 233 | 119 | 88.0 | 311 | 10.1% |
Top Export Markets for Wheat from the UK in 2022:
- Spain (305.1K tons)
- Netherlands (290.6K tons)
- Ireland (190.9K tons)
- Portugal (55.5K tons)
- Belgium (37.5K tons)
- Algeria (31.5K tons)
- United States (0.2K tons)
This report provides an in-depth analysis of the wheat market in the UK. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- FCL 15 - Wheat
Country coverage:
- United Kingdom
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in the UK
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
-
2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- COUNTRIES WITH TOP YIELDS
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION, HARVESTED AREA AND YIELD
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Yield And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Area Harvested, 2012–2023
- Yield, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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In 2022, wheat price growth is forecast to slow down with sufficient global production and falling demand for feed grains in the U.S. and the EU. Global wheat output is set to remain at the 2021’s level of approx. 777M tons.
617
The average annual wheat price in the U.S. is forecast to drop by 2% y-o-y to $250 per ton in 2022, falling on reduced domestic consumption coupled with stable supply worldwide. The market balance will be buoyed by production gains in Argentina and the EU that will offset decreasing output in Brazil and Paraguay.
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This year, harvests in the EU, the U.S., the UK, Argentina, Morocco and Ukraine are expected to increase, leading to a growth in wheat production. Even though global stockpiles of grains will remain high, there are boosted expectations for inflation due to forecasts of record demand and increased prices for other cereal grains. The rising global population and bioethanol production are key factors leading to this growth in demand for wheat. Another driving factor is the emerging trend in the EU to use more wheat in animal feed rather than barley.
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Global wheat production will reach 758.3 million tons in 2020, showing a slight decrease of 0.5 percent over the previous year's highs and still at a fairly high level.
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Global wheat consumption amounted to X thousand tons in 2015, remaining constant against the previous year level.
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In 2015, the countries with the highest levels of production were China (X thousand tons), India (X thousand tons), Russia (X thousand tons), together accounting for X% of total output.
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The U.S. dominates in the global wheat trade. In 2014, the U.S. exported X thousand tons of wheat totaling X million USD, X% under the previous year. Its primary trading partner was Japan, where it supplied X% of its total wheat exports in
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