ASEAN: Market for Wheat and Meslin Flour 2024

Market Size for Wheat and Meslin Flour in ASEAN

The ASEAN wheat and meslin flour market amounted to $X in 2022, growing by 12% against the previous year. The market value increased at an average annual rate of +1.4% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed in certain years. The level of consumption peaked at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Production of Wheat and Meslin Flour in ASEAN

In value terms, wheat and meslin flour production rose slightly to $X in 2022 estimated in export price. Overall, production recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 when the production volume increased by 13%. As a result, production attained the peak level of $X. From 2021 to 2022, production growth remained at a lower figure.

Exports of Wheat and Meslin Flour

Exports in ASEAN

In 2022, the amount of wheat and meslin flour exported in ASEAN reduced to X tons, dropping by -13.5% compared with 2021 figures. Total exports indicated a noticeable expansion from 2012 to 2022: its volume increased at an average annual rate of +2.3% 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 +1.4% against 2020 indices. The growth pace was the most rapid in 2017 when exports increased by 26%. As a result, the exports reached the peak of X tons. From 2018 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, wheat and meslin flour exports declined to $X in 2022. The total export value increased at an average annual rate of +2.3% over the period from 2012 to 2022; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2021 with an increase of 29%. As a result, the exports reached the peak of $X, and then reduced in the following year.

Exports by Country

Vietnam was the major exporter of wheat and meslin flour in ASEAN, with the volume of exports finishing at X tons, which was near 41% of total exports in 2022. Indonesia (X tons) ranks second in terms of the total exports with an 18% share, followed by Malaysia (18%), Singapore (18%) and Thailand (4.8%).

Vietnam was also the fastest-growing in terms of the wheat and meslin flour exports, with a CAGR of +4.0% from 2012 to 2022. At the same time, Indonesia (+2.9%), Thailand (+2.2%) and Singapore (+1.6%) displayed positive paces of growth. Malaysia experienced a relatively flat trend pattern. While the share of Vietnam (+6 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Malaysia (-2.9 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest wheat and meslin flour supplying countries in ASEAN were Vietnam ($X), Singapore ($X) and Indonesia ($X), together accounting for 77% of total exports.

Among the main exporting countries, Vietnam, with a CAGR of +4.2%, recorded the highest growth rate of 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

The export price in ASEAN stood at $X per ton in 2022, surging by 4% against the previous year. Overall, the export price, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 an increase of 10% against the previous year. The level of export peaked at $X per ton in 2014; however, from 2015 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Thailand ($X per ton), while Malaysia ($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 (+2.2%), while the other leaders experienced mixed trends in the export price figures.

Imports of Wheat and Meslin Flour

Imports in ASEAN

In 2022, purchases abroad of wheat and meslin flour was finally on the rise to reach X tons for the first time since 2017, thus ending a four-year declining trend. Over the period under review, imports, however, showed a abrupt contraction. Over the period under review, imports reached the maximum at X tons in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, wheat and meslin flour imports surged to $X in 2022. Overall, imports, however, recorded a deep reduction. The level of import peaked at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

The countries with the highest levels of wheat and meslin flour imports in 2022 were Thailand (X tons), Singapore (X tons), Indonesia (X tons) and Malaysia (X tons), together resulting at 79% of total import. It was distantly followed by Myanmar (X tons) and the Philippines (X tons), together achieving a 12% share of total imports. Vietnam (X tons) took a minor share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Myanmar (with a CAGR of +44.6%), while imports for the other leaders experienced a decline in the imports figures.

In value terms, the largest wheat and meslin flour importing markets in ASEAN were Thailand ($X), Singapore ($X) and Malaysia ($X), with a combined 65% share of total imports. Indonesia, the Philippines, Myanmar and Vietnam lagged somewhat behind, together comprising a further 29%.

Myanmar, with a CAGR of +40.1%, saw the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced a decline in the imports figures.

Import Prices by Country

In 2022, the import price in ASEAN amounted to $X per ton, with an increase of 6.3% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.1%. The pace of growth appeared the most rapid in 2021 an increase of 9.3% against the previous year. The level of import peaked in 2022 and is likely to continue growth in years to come.

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 Philippines ($X per ton), while Indonesia ($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 Philippines (+6.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform