Europe: Wheat Market 2024

Wheat Market Size in Europe

The Europe wheat market expanded significantly to $X in 2022, with an increase of X% against the previous year. The market value increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. Over the period under review, the market reached the peak level in 2022 and is expected to retain growth in years to come.

Wheat Production in Europe

In value terms, wheat production fell to $X in 2022 estimated in export price. Overall, production, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 with an increase of X% against the previous year. As a result, production attained the peak level of $X. From 2020 to 2022, production growth remained at a lower figure.

Russia (X tons) remains the largest wheat producing country in Europe, comprising approx. X% of total volume. Moreover, wheat production in Russia exceeded the figures recorded by the second-largest producer, France (X tons), twofold. Ukraine (X tons) ranked third in terms of total production with an X% share.

In Russia, wheat production expanded at an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: France (X% per year) and Ukraine (X% per year).

The average wheat yield declined slightly to X tons per ha in 2022, waning by X% compared with 2021. The yield figure increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed in certain years. The pace of growth was the most pronounced in 2013 when the yield increased by X% against the previous year. The level of yield peaked at X tons per ha in 2017; however, from 2018 to 2022, the yield remained at a lower figure. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

The wheat harvested area fell modestly to X ha in 2022, remaining stable against the previous year's figure. The harvested area increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed in certain years. The growth pace was the most rapid in 2013 with an increase of X% against the previous year. The level of harvested area peaked at X ha in 2021, and then dropped modestly in the following year.

Wheat Exports

Exports in Europe

In 2022, approx. X tons of wheat were exported in Europe; with a decrease of X% on 2021. Total exports indicated notable growth from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by X% against 2019 indices. The pace of growth appeared the most rapid in 2014 with an increase of X%. Over the period under review, the exports reached the peak figure at X tons in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

In value terms, wheat exports expanded significantly to $X in 2022. Total exports indicated prominent growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by X% against 2018 indices. The pace of growth appeared the most rapid in 2018 when exports increased by X%. The level of export peaked in 2022 and is likely to see steady growth in the immediate term.

Exports by Country

France (X tons) and Russia (X tons) were the key exporters of wheat in 2022, reaching near X% and X% of total exports, respectively. Ukraine (X tons) held a X% share (based on physical terms) of total exports, which put it in second place, followed by Germany (X%), Romania (X%) and Bulgaria (X%). Poland (X tons), Lithuania (X tons), Latvia (X tons), the Czech Republic (X tons) and Hungary (X tons) took a relatively small share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Poland (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, France ($X), Russia ($X) and Ukraine ($X) appeared to be the countries with the highest levels of exports in 2022, together comprising X% of total exports. Germany, Romania, Bulgaria, Poland, Lithuania, Latvia, the Czech Republic and Hungary lagged somewhat behind, together accounting for a further X%.

Among the main exporting countries, Poland, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the export price in Europe amounted to $X per ton, rising by X% against the previous year. Export price indicated a tangible increase from 2012 to 2022: its price increased at an average annual rate of X% 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 X% against 2016 indices. The growth pace was the most rapid in 2021 when the export price increased by X%. Over the period under review, the export prices attained the peak figure in 2022 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Russia ($X per ton), while Ukraine ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Bulgaria (X%), while the other leaders experienced more modest paces of growth.

Wheat Imports

Imports in Europe

In 2022, overseas purchases of wheat increased by X% to X tons, rising for the third consecutive year after three years of decline. The total import volume increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2016 when imports increased by X% against the previous year. As a result, imports reached the peak of X tons. From 2017 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, wheat imports soared to $X in 2022. Total imports indicated a notable increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2019 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Italy (X tons), Spain (X tons), Germany (X tons), the Netherlands (X tons), Belgium (X tons) and Belarus (X tons) represented roughly X% of total imports in 2022. The UK (X tons), Austria (X tons), Portugal (X tons), Romania (X tons), Greece (X tons), Poland (X tons) and Latvia (X tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Belarus (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest wheat importing markets in Europe were Italy ($X), Spain ($X) and Germany ($X), together accounting for X% of total imports. The Netherlands, Belgium, Belarus, the UK, Portugal, Austria, Greece, Romania, Poland and Latvia lagged somewhat behind, together accounting for a further X%.

Belarus, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, in terms of the main importing countries 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 Europe stood at $X per ton in 2022, picking up by X% against the previous year. Import price indicated moderate growth from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, wheat import price increased by X% against 2016 indices. The pace of growth appeared the most rapid in 2021 an increase of X%. The level of import peaked in 2022 and is expected to retain growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was the UK ($X per ton), while Belarus ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Portugal (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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