Spain: Buckwheat Market 2022

Buckwheat Market Size in Spain

In 2021, the Spanish buckwheat market increased by X% to $X for the first time since 2018, thus ending a two-year declining trend. Over the period under review, consumption, however, enjoyed a perceptible expansion. Over the period under review, the market attained the maximum level at $X in 2016; however, from 2017 to 2021, consumption remained at a lower figure.

Buckwheat Exports

Exports from Spain

In 2021, shipments abroad of buckwheat increased by X% to X tons for the first time since 2018, thus ending a two-year declining trend. In general, exports saw a significant expansion. The pace of growth appeared the most rapid in 2015 with an increase of X%. Over the period under review, the exports reached the peak figure at X tons in 2016; however, from 2017 to 2021, the exports failed to regain momentum.

In value terms, buckwheat exports reached $X in 2021. Overall, exports posted a significant expansion. The growth pace was the most rapid in 2015 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs at $X in 2016; however, from 2017 to 2021, the exports remained at a lower figure.

Exports by Country

Portugal (X tons) and France (X tons) were the main destinations of buckwheat exports from Spain.

From 2012 to 2021, the biggest increases were in Portugal (with a CAGR of +X value terms, Portugal ($X) remains the key foreign market for buckwheat exports from Spain, comprising X% of total exports. The second position in the ranking was taken by France ($X), with a X% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to Portugal stood at +X%.

Export Prices by Country

The average buckwheat export price stood at $X per ton in 2021, remaining relatively unchanged against the previous year. Over the period under review, the export price continues to indicate a pronounced downturn. The pace of growth was the most pronounced in 2020 an increase of X%. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

Average prices varied somewhat for the major external markets. In 2021, the country with the highest price was Portugal ($X per ton), while the average price for exports to France stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to France (+X%).

Buckwheat Imports

Imports into Spain

For the third year in a row, Spain recorded decline in overseas purchases of buckwheat, which decreased by -X% to X tons in 2021. Over the period under review, imports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 when imports increased by X%. Imports peaked at X tons in 2016; however, from 2017 to 2021, imports remained at a lower figure.

In value terms, buckwheat imports soared to $X in 2021. Overall, imports, however, posted a strong increase. The most prominent rate of growth was recorded in 2015 with an increase of X% against the previous year. Over the period under review, imports hit record highs at $X in 2016; however, from 2017 to 2021, imports failed to regain momentum.

Imports by Country

China (X tons), Ireland (X tons) and Lithuania (X tons) were the main suppliers of buckwheat imports to Spain, together accounting for X% of total imports.

From 2012 to 2021, the biggest increases were in China (with a CAGR of +X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constituted the largest supplier of buckwheat to Spain, comprising X% of total imports. The second position in the ranking was held by Germany ($X), with a X% share of total imports. It was followed by Ireland, with a X% share.

From 2012 to 2021, the average annual growth rate of value from China totaled +X%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-X% per year) and Ireland (+X% per year).

Import Prices by Country

The average buckwheat import price stood at $X per ton in 2021, surging by X% against the previous year. Overall, the import price showed a tangible expansion. The pace of growth appeared the most rapid in 2019 an increase of X%. Over the period under review, average import prices attained the peak figure in 2021 and is likely to continue growth in the near future.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Germany ($X per ton), while the price for Lithuania ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Ireland (+X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

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