Middle East: Wheat Market 2024

Wheat Market Size in the Middle East

After two years of decline, the Middle Eastern wheat market increased by X% to $X in 2022. In general, consumption recorded a relatively flat trend pattern. Over the period under review, the market reached the peak level at $X in 2014; however, from 2015 to 2022, consumption failed to regain momentum.

Wheat Production in the Middle East

In value terms, wheat production stood at $X in 2022 estimated in export price. The total production indicated a mild 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, production decreased by X% against 2020 indices. The pace of growth appeared the most rapid in 2019 with an increase of X%. Over the period under review, production attained the peak level at $X in 2014; however, from 2015 to 2022, production stood at a somewhat lower figure.

The countries with the highest volumes of production in 2022 were Turkey (X tons), Iran (X tons) and Iraq (X tons), together accounting for X% of total production.

From 2012 to 2022, the most notable rate of growth in terms of production, amongst the main producing countries, was attained by Iraq (with a CAGR of X%), while production for the other leaders experienced mixed trends in the production figures.

The average wheat yield was estimated at X tons per ha in 2022, surging by X% on 2021 figures. In general, the yield recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 when the yield increased by X% against the previous year. The level of yield peaked at X tons per ha in 2016; however, from 2017 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.

In 2022, approx. X ha of wheat were harvested in the Middle East; picking up by X% on the previous year. Overall, the harvested area, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when the harvested area increased by X%. Over the period under review, the harvested area dedicated to wheat production attained the maximum at X ha in 2013; however, from 2014 to 2022, the harvested area stood at a somewhat lower figure.

Wheat Exports

Exports in the Middle East

After two years of growth, overseas shipments of wheat decreased by X% to X tons in 2022. In general, exports, however, showed a resilient expansion. The growth pace was the most rapid in 2013 when exports increased by X%. Over the period under review, the exports reached the maximum at X tons in 2021, and then reduced notably in the following year.

In value terms, wheat exports reduced markedly to $X in 2022. Over the period under review, exports, however, showed a buoyant expansion. The most prominent rate of growth was recorded in 2013 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs at $X in 2021, and then contracted dramatically in the following year.

Exports by Country

Turkey was the largest exporter of wheat in the Middle East, with the volume of exports amounting to X tons, which was approx. X% of total exports in 2022. The United Arab Emirates (X tons) held a X% share (based on physical terms) of total exports, which put it in second place, followed by Oman (X%) and Syrian Arab Republic (X%). Iran (X tons) and Lebanon (X tons) held a little share of total exports.

Exports from Turkey increased at an average annual rate of X% from 2012 to 2022. At the same time, Oman (X%), Lebanon (X%), Syrian Arab Republic (X%), Iran (X%) and the United Arab Emirates (X%) displayed positive paces of growth. Moreover, Oman emerged as the fastest-growing exporter exported in the Middle East, with a CAGR of X% from 2012-2022. Oman (X p.p.), Turkey (X p.p.) and Syrian Arab Republic (X p.p.) significantly strengthened its position in terms of the total exports, while Iran and the United Arab Emirates saw its share reduced by X% and X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) emerged as the largest wheat supplier in the Middle East, comprising X% of total exports. The second position in the ranking was held by the United Arab Emirates ($X), with an X% share of total exports. It was followed by Oman, with a X% share.

From 2012 to 2022, the average annual growth rate of value in Turkey amounted to X%. The remaining exporting countries recorded the following average annual rates of exports growth: the United Arab Emirates (X% per year) and Oman (X% per year).

Export Prices by Country

The export price in the Middle East stood at $X per ton in 2022, which is down by X% against the previous year. Overall, the export price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 an increase of X%. Over the period under review, the export prices attained the peak figure at $X per ton in 2020; however, from 2021 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Turkey ($X per ton), while Iran ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Turkey (X%), while the other leaders experienced mixed trends in the export price figures.

Wheat Imports

Imports in the Middle East

Wheat imports dropped to X tons in 2022, with a decrease of X% on 2021 figures. Overall, imports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of X%. The volume of import peaked at X tons in 2014; however, from 2015 to 2022, imports failed to regain momentum.

In value terms, wheat imports rose notably to $X in 2022. In general, imports, however, continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 with an increase of X%. The level of import peaked in 2022 and is likely to continue growth in the near future.

Imports by Country

Turkey was the main importer of wheat in the Middle East, with the volume of imports finishing at X tons, which was approx. X% of total imports in 2022. It was distantly followed by Yemen (X tons), Saudi Arabia (X tons), the United Arab Emirates (X tons), Israel (X tons), Oman (X tons) and Iran (X tons), together committing a X% share of total imports.

Imports into Turkey increased at an average annual rate of X% from 2012 to 2022. At the same time, Oman (X%) displayed positive paces of growth. Moreover, Oman emerged as the fastest-growing importer imported in the Middle East, with a CAGR of X% from 2012-2022. Saudi Arabia, Yemen and Israel experienced a relatively flat trend pattern. By contrast, the United Arab Emirates (X%) and Iran (X%) illustrated a downward trend over the same period. While the share of Turkey (X p.p.) and Oman (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Iran (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) constitutes the largest market for imported wheat in the Middle East, comprising X% of total imports. The second position in the ranking was held by Yemen ($X), with a X% share of total imports. It was followed by the United Arab Emirates, with an X% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Turkey stood at X%. The remaining importing countries recorded the following average annual rates of imports growth: Yemen (X% per year) and the United Arab Emirates (X% per year).

Import Prices by Country

In 2022, the import price in the Middle East amounted to $X per ton, rising by X% against the previous year. Import price indicated a modest 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 import price increased by X% against 2016 indices. As a result, import price reached the peak level and is likely to continue 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 United Arab Emirates ($X per ton), while Yemen ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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