Asia: Buckwheat Market 2023

Buckwheat Market Size in Asia

After two years of growth, the Asian buckwheat market decreased by -0.5% to $X in 2021. Over the period under review, consumption, however, showed a pronounced contraction. The pace of growth appeared the most rapid in 2019 with an increase of 8.6% against the previous year. The level of consumption peaked at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Buckwheat Production in Asia

In value terms, buckwheat production contracted to $X in 2021 estimated in export price. In general, production, however, continues to indicate a noticeable shrinkage. The most prominent rate of growth was recorded in 2020 with an increase of 25% against the previous year. Over the period under review, production reached the peak level at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

China (X tons) constituted the country with the largest volume of buckwheat production, accounting for 81% of total volume. Moreover, buckwheat production in China exceeded the figures recorded by the second-largest producer, Japan (X tons), more than tenfold. The third position in this ranking was taken by Kazakhstan (X tons), with a 6.8% share.

In China, buckwheat production plunged by an average annual rate of -3.1% over the period from 2012-2021. The remaining producing countries recorded the following average annual rates of production growth: Japan (-0.2% per year) and Kazakhstan (-1.3% per year).

In 2021, the average yield of buckwheat in Asia contracted modestly to X kg per ha, remaining stable against 2020. In general, the yield continues to indicate a mild contraction. The most prominent rate of growth was recorded in 2016 with an increase of 8.2% against the previous year. Over the period under review, the buckwheat yield attained the peak level at X kg per ha in 2012; however, from 2013 to 2021, the yield failed to regain momentum. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2021, the buckwheat harvested area in Asia amounted to X ha, remaining relatively unchanged against the year before. Overall, the harvested area, however, recorded a slight setback. The most prominent rate of growth was recorded in 2016 when the harvested area increased by 20% against the previous year. Over the period under review, the harvested area dedicated to buckwheat production attained the maximum at X ha in 2012; however, from 2013 to 2021, the harvested area remained at a lower figure.

Buckwheat Exports

Exports in Asia

In 2021, shipments abroad of buckwheat decreased by -21.8% to X tons, falling for the third year in a row after two years of growth. Overall, exports recorded a deep setback. The pace of growth was the most pronounced in 2014 when exports increased by 34% against the previous year. As a result, the exports reached the peak of X tons. From 2015 to 2021, the growth of the exports remained at a lower figure.

In value terms, buckwheat exports totaled $X in 2021. Over the period under review, exports continue to indicate a abrupt contraction. The most prominent rate of growth was recorded in 2014 when exports increased by 50%. As a result, the exports attained the peak of $X. From 2015 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Kazakhstan (X tons) and China (X tons) dominates exports structure, together comprising 90% of total exports. Pakistan (X tons), India (X tons) and Nepal (X tons) held a little share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Pakistan (with a CAGR of +49.5%), while the other leaders experienced more modest paces of growth.

In value terms, the largest buckwheat supplying countries in Asia were China ($X), Kazakhstan ($X) and India ($X), together comprising 96% of total exports.

Kazakhstan, with a CAGR of +41.3%, saw the highest rates of growth with regard to the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the export price in Asia amounted to $X per ton, with an increase of 29% against the previous year. Export price indicated a perceptible increase from 2012 to 2021: its price increased at an average annual rate of +3.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, buckwheat export price increased by +59.8% against 2019 indices. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably country of origin: the country with the highest price was China ($X per ton), while Nepal ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+5.9%), while the other leaders experienced more modest paces of growth.

Buckwheat Imports

Imports in Asia

In 2021, the amount of buckwheat imported in Asia skyrocketed to X tons, jumping by 53% on the year before. Total imports indicated a mild increase from 2012 to 2021: its volume increased at an average annual rate of +1.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -25.5% against 2019 indices. The volume of import peaked at X tons in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

In value terms, buckwheat imports skyrocketed to $X in 2021. Total imports indicated notable growth from 2012 to 2021: its value increased at an average annual rate of +2.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Japan (X tons) and China (X tons) prevails in imports structure, together mixing up 73% of total imports. It was distantly followed by Azerbaijan (X tons) and Georgia (X tons), together creating a 16% share of total imports. South Korea (X tons) and Kazakhstan (X tons) took a minor share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by China (with a CAGR of +380.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest buckwheat importing markets in Asia were Japan ($X), China ($X) and Azerbaijan ($X), together accounting for 79% of total imports.

Among the main importing countries, China, with a CAGR of +373.2%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Asia stood at $X per ton in 2021, with an increase of 13% against the previous year. Overall, the import price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 an increase of 38% against the previous year. Over the period under review, import prices attained the peak figure in 2021 and is likely to see gradual growth in years to come.

Prices varied noticeably country of destination: the country with the highest price was South Korea ($X per ton), while Kazakhstan ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Azerbaijan (+10.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

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