Asia-Pacific: Market for Wheat and Meslin Flour 2024

Market Size for Wheat and Meslin Flour in Asia-Pacific

The Asia-Pacific wheat and meslin flour market expanded slightly to $X in 2022, growing by 2.1% against the previous year. The market value increased at an average annual rate of +2.2% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2017 with an increase of 8.4%. Over the period under review, the market reached the maximum level at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Production of Wheat and Meslin Flour in Asia-Pacific

In value terms, wheat and meslin flour production totaled $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.9% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2020 with an increase of 7.1%. As a result, production reached the peak level of $X. From 2021 to 2022, production growth remained at a somewhat lower figure.

Exports of Wheat and Meslin Flour

Exports in Asia-Pacific

In 2022, wheat and meslin flour exports in Asia-Pacific surged to X tons, increasing by 21% compared with 2021 figures. Over the period under review, exports, however, showed a pronounced setback. The pace of growth was the most pronounced in 2015 when exports increased by 27% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, wheat and meslin flour exports soared to $X in 2022. In general, exports, however, saw a mild curtailment. The level of export peaked at $X in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

India was the main exporting country with an export of around X tons, which recorded 45% of total exports. Japan (X tons) held an 11% share (based on physical terms) of total exports, which put it in second place, followed by Vietnam (9.2%), China (9.2%) and Sri Lanka (4.7%). Indonesia (X tons), Malaysia (X tons), Singapore (X tons), South Korea (X tons), Fiji (X tons) and Taiwan (Chinese) (X tons) followed a long way behind the leaders.

India was also the fastest-growing in terms of the wheat and meslin flour exports, with a CAGR of +12.7% from 2012 to 2022. At the same time, South Korea (+9.7%), Taiwan (Chinese) (+7.4%), Vietnam (+4.0%), Indonesia (+2.9%), Fiji (+2.7%) and Singapore (+1.6%) displayed positive paces of growth. Malaysia experienced a relatively flat trend pattern. By contrast, Japan (-1.5%), China (-6.8%) and Sri Lanka (-9.6%) illustrated a downward trend over the same period. While the share of India (+35 p.p.), Vietnam (+4.8 p.p.), Japan (+2 p.p.), Indonesia (+1.9 p.p.), South Korea (+1.8 p.p.) and Singapore (+1.6 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of China (-3.9 p.p.) and Sri Lanka (-4.3 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X) remains the largest wheat and meslin flour supplier in Asia-Pacific, comprising 37% of total exports. The second position in the ranking was taken by Japan ($X), with a 13% share of total exports. It was followed by China, with a 9% share.

In India, wheat and meslin flour exports increased at an average annual rate of +13.4% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Japan (+2.9% per year) and China (-7.6% per year).

Export Prices by Country

In 2022, the export price in Asia-Pacific amounted to $X per ton, waning by -2.8% against the previous year. Over the last decade, it increased at an average annual rate of +2.2%. The most prominent rate of growth was recorded in 2020 an increase of 20% against the previous year. The level of export peaked at $X per ton in 2021, and then shrank slightly in the following year.

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 South Korea ($X per ton), while India ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (+4.5%), while the other leaders experienced more modest paces of growth.

Imports of Wheat and Meslin Flour

Imports in Asia-Pacific

In 2022, supplies from abroad of wheat and meslin flour was finally on the rise to reach X tons after three years of decline. The total import volume increased at an average annual rate of +2.7% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2016 when imports increased by 25% against the previous year. The volume of import peaked at X tons in 2018; however, from 2019 to 2022, imports remained at a lower figure.

In value terms, wheat and meslin flour imports skyrocketed to $X in 2022. The total import value increased at an average annual rate of +2.3% from 2012 to 2022; however, the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The level of import peaked at $X in 2018; however, from 2019 to 2022, imports remained at a lower figure.

Imports by Country

Afghanistan was the main importer of wheat and meslin flour in Asia-Pacific, with the volume of imports accounting for X tons, which was near 53% of total imports in 2022. Sri Lanka (X tons) held an 11% share (based on physical terms) of total imports, which put it in second place, followed by Thailand (5%) and Hong Kong SAR (4.9%). The following importers - Singapore (X tons), Democratic People's Republic of Korea (X tons), Indonesia (X tons), China (X tons) and Malaysia (X tons) - together made up 15% of total imports.

From 2012 to 2022, average annual rates of growth with regard to wheat and meslin flour imports into Afghanistan stood at +12.2%. At the same time, Sri Lanka (+42.1%) and China (+21.1%) displayed positive paces of growth. Moreover, Sri Lanka emerged as the fastest-growing importer imported in Asia-Pacific, with a CAGR of +42.1% from 2012-2022. Singapore experienced a relatively flat trend pattern. By contrast, Hong Kong SAR (-1.2%), Thailand (-4.2%), Democratic People's Republic of Korea (-5.1%), Malaysia (-10.7%) and Indonesia (-15.1%) illustrated a downward trend over the same period. Afghanistan (+31 p.p.), Sri Lanka (+11 p.p.) and China (+2.1 p.p.) significantly strengthened its position in terms of the total imports, while Singapore, Hong Kong SAR, Democratic People's Republic of Korea, Thailand, Malaysia and Indonesia saw its share reduced by -1.5%, -2.3%, -3.8%, -5%, -7.8% and -16.7% from 2012 to 2022, respectively.

In value terms, Afghanistan ($X) constitutes the largest market for imported wheat and meslin flour in Asia-Pacific, comprising 43% of total imports. The second position in the ranking was taken by Sri Lanka ($X), with a 9.5% share of total imports. It was followed by Hong Kong SAR, with an 8.1% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Afghanistan stood at +12.5%. In the other countries, the average annual rates were as follows: Sri Lanka (+41.1% per year) and Hong Kong SAR (-1.2% per year).

Import Prices by Country

In 2022, the import price in Asia-Pacific amounted to $X per ton, rising by 8.3% against the previous year. In general, the import price, however, showed a relatively flat trend pattern. The level of import peaked at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Hong Kong SAR ($X per ton), while Democratic People's Republic of Korea ($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 (+2.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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