ASEAN: Buckwheat Market 2025

Buckwheat Market Size in ASEAN

The ASEAN buckwheat market skyrocketed to $X in 2022, growing by 31% against the previous year. Over the period under review, consumption, however, continues to indicate a perceptible downturn. The level of consumption peaked at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Buckwheat Production in ASEAN

In value terms, buckwheat production rose notably to $X in 2022 estimated in export price. Over the period under review, production, however, recorded a abrupt descent. The most prominent rate of growth was recorded in 2018 with an increase of 203%. The level of production peaked at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Myanmar (X tons) constituted the country with the largest volume of buckwheat production, accounting for 80% of total volume. Moreover, buckwheat production in Myanmar exceeded the figures recorded by the second-largest producer, Vietnam (X tons), ninefold. The third position in this ranking was taken by the Philippines (X tons), with a 6.1% share.

In Myanmar, buckwheat production increased at an average annual rate of +3.2% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Vietnam (+0.7% per year) and the Philippines (+1.3% per year).

Buckwheat Exports

Exports in ASEAN

For the third consecutive year, ASEAN recorded growth in overseas shipments of buckwheat, which increased by 89% to X tons in 2022. Over the period under review, exports, however, saw a noticeable downturn. The pace of growth was the most pronounced in 2015 with an increase of 198%. Over the period under review, the exports reached the peak figure at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, buckwheat exports soared to $X in 2022. In general, exports, however, saw a perceptible setback. The level of export peaked at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

In 2022, Myanmar (X tons) represented the main exporter of buckwheat, achieving 76% of total exports. Vietnam (X tons) took a 15% share (based on physical terms) of total exports, which put it in second place, followed by Singapore (5.6%). Malaysia (X tons) took a minor share of total exports.

Exports from Myanmar increased at an average annual rate of +4.9% from 2012 to 2022. At the same time, Vietnam (+67.4%) and Singapore (+42.2%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing exporter exported in ASEAN, with a CAGR of +67.4% from 2012-2022. By contrast, Malaysia (-25.7%) illustrated a downward trend over the same period. Myanmar (+46 p.p.), Vietnam (+15 p.p.) and Singapore (+5.5 p.p.) significantly strengthened its position in terms of the total exports, while Malaysia saw its share reduced by -35.2% from 2012 to 2022, respectively.

In value terms, Myanmar ($X) remains the largest buckwheat supplier in ASEAN, comprising 48% of total exports. The second position in the ranking was taken by Singapore ($X), with a 24% share of total exports. It was followed by Vietnam, with a 22% share.

From 2012 to 2022, the average annual growth rate of value in Myanmar stood at -1.7%. In the other countries, the average annual rates were as follows: Singapore (+35.6% per year) and Vietnam (+50.3% per year).

Export Prices by Country

In 2022, the export price in ASEAN amounted to $X per ton, increasing by 27% against the previous year. Overall, the export price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when the export price increased by 47% against the previous year. Over the period under review, the export prices hit record highs at $X per ton in 2020; however, from 2021 to 2022, the export prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (+7.2%), while the other leaders experienced a decline in the export price figures.

Buckwheat Imports

Imports in ASEAN

Buckwheat imports surged to X tons in 2022, increasing by 120% compared with 2021. Overall, imports, however, recorded a deep contraction. The most prominent rate of growth was recorded in 2014 with an increase of 902% against the previous year. As a result, imports reached the peak of X tons. From 2015 to 2022, the growth of imports remained at a lower figure.

In value terms, buckwheat imports soared to $X in 2022. Over the period under review, imports, however, saw a abrupt slump. The most prominent rate of growth was recorded in 2014 with an increase of 389% against the previous year. As a result, imports attained the peak of $X. From 2015 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, Thailand (X tons) was the major importer of buckwheat, achieving 71% of total imports. Malaysia (X tons) held the second position in the ranking, followed by Singapore (X tons) and Vietnam (X tons). All these countries together held approx. 26% share of total imports. The Philippines (X tons) followed a long way behind the leaders.

Imports into Thailand increased at an average annual rate of +8.4% from 2012 to 2022. At the same time, Vietnam (+71.2%), the Philippines (+15.4%) and Singapore (+7.2%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing importer imported in ASEAN, with a CAGR of +71.2% from 2012-2022. By contrast, Malaysia (-13.1%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Thailand, Singapore, Vietnam and the Philippines increased by +62, +7.8, +5.2 and +2 percentage points, respectively.

In value terms, the largest buckwheat importing markets in ASEAN were Thailand ($X), Singapore ($X) and Malaysia ($X), with a combined 92% share of total imports. Vietnam and the Philippines lagged somewhat behind, together comprising a further 6.7%.

Among the main importing countries, Vietnam, with a CAGR of +44.8%, saw the highest growth rate of 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 ASEAN stood at $X per ton in 2022, reducing by -28.3% against the previous year. Overall, the import price, however, saw measured growth. The pace of growth was the most pronounced in 2020 when the import price increased by 133% against the previous year. The level of import peaked at $X per ton in 2018; however, from 2019 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Singapore ($X per ton), while the Philippines ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (+3.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform