Greece: Market for Broad Beans And Horse Beans (Dry) 2023

Market Size for Broad Beans And Horse Beans (Dry) in Greece

The Greek market for broad beans and horse beans (dry) shrank rapidly to $X in 2022, with a decrease of -28.7% against the previous year. Overall, consumption, however, continues to indicate a strong increase. As a result, consumption reached the peak level of $X. From 2019 to 2022, the growth of the market failed to regain momentum.

Production of Broad Beans And Horse Beans (Dry) in Greece

In value terms, broad bean and horse bean production reduced remarkably to $X in 2022 estimated in export price. Over the period under review, production, however, continues to indicate a resilient increase. The growth pace was the most rapid in 2018 when the production volume increased by 1,100% against the previous year. As a result, production reached the peak level of $X. From 2019 to 2022, production growth remained at a lower figure.

The average yield of broad beans and horse beans (dry) in Greece fell sharply to X tons per ha in 2022, which is down by -18.9% against 2021 figures. In general, the yield saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the yield increased by 215%. As a result, the yield attained the peak level of X tons per ha. From 2019 to 2022, the growth of the average broad bean and horse bean 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.

In 2022, approx. X ha of broad beans and horse beans (dry) were harvested in Greece; waning by -19.3% on the year before. Over the period under review, the harvested area, however, showed a resilient increase. The pace of growth was the most pronounced in 2018 with an increase of 171% against the previous year. The broad bean and horse bean harvested area peaked at X ha in 2021, and then plummeted in the following year.

Exports of Broad Beans And Horse Beans (Dry)

Exports from Greece

In 2022, broad bean and horse bean exports from Greece soared to X tons, jumping by 36% compared with 2021. In general, exports continue to indicate a measured increase. The most prominent rate of growth was recorded in 2019 when exports increased by 70%. The exports peaked in 2022 and are expected to retain growth in years to come.

In value terms, broad bean and horse bean exports skyrocketed to $X in 2022. Over the period under review, exports posted a strong increase. The most prominent rate of growth was recorded in 2016 with an increase of 82% against the previous year. The exports peaked in 2022 and are likely to see gradual growth in the near future.

Exports by Country

Cyprus (X tons) was the main destination for broad bean and horse bean exports from Greece, accounting for a 52% share of total exports. Moreover, broad bean and horse bean exports to Cyprus exceeded the volume sent to the second major destination, Germany (X tons), threefold. The United States (X tons) ranked third in terms of total exports with an 11% share.

From 2012 to 2022, the average annual growth rate of volume to Cyprus totaled +10.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+19.0% per year) and the United States (+9.8% per year).

In value terms, Cyprus ($X) remains the key foreign market for broad beans and horse beans (dry) exports from Greece, comprising 40% of total exports. The second position in the ranking was held by Germany ($X), with a 20% share of total exports. It was followed by the United States, with a 15% share.

From 2012 to 2022, the average annual growth rate of value to Cyprus stood at +16.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+20.6% per year) and the United States (+16.1% per year).

Export Prices by Country

The average export price for broad beans and horse beans (dry) stood at $X per ton in 2022, leveling off at the previous year. Over the period under review, export price indicated a prominent expansion from 2012 to 2022: its price increased at an average annual rate of +5.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, broad bean and horse bean export price increased by +15.4% against 2020 indices. The pace of growth was the most pronounced in 2013 when the average export price increased by 66% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per ton in 2018; however, from 2019 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Canada ($X per ton), while the average price for exports to Bulgaria ($X 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 Austria (+11.6%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Broad Beans And Horse Beans (Dry)

Imports into Greece

Broad bean and horse bean imports into Greece soared to X tons in 2022, jumping by 17% on the previous year's figure. Over the period under review, imports, however, showed a abrupt shrinkage. The most prominent rate of growth was recorded in 2020 with an increase of 39% against the previous year. Imports peaked at X tons in 2016; however, from 2017 to 2022, imports remained at a lower figure.

In value terms, broad bean and horse bean imports rose sharply to $X in 2022. Overall, imports, however, showed a abrupt decrease. The most prominent rate of growth was recorded in 2020 with an increase of 29% against the previous year. Imports peaked at $X in 2016; however, from 2017 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Turkey (X tons) was the main broad bean and horse bean supplier to Greece, with a 97% share of total imports. It was followed by Italy (X tons), with a 1.3% share of total imports.

From 2012 to 2022, the average annual growth rate of volume from Turkey stood at -2.4%.

In value terms, Turkey ($X) constituted the largest supplier of broad beans and horse beans (dry) to Greece, comprising 95% of total imports. The second position in the ranking was taken by Italy ($X), with a 2.3% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from Turkey stood at -3.4%.

Import Prices by Country

In 2022, the average import price for broad beans and horse beans (dry) amounted to $X per ton, with a decrease of -5.7% against the previous year. Over the period under review, the import price, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 an increase of 17% against the previous year. As a result, import price attained the peak level of $X per ton, and then contracted in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Italy ($X per ton), while the price for Turkey amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+13.5%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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