Benelux: Wheat Market 2024

Wheat Market Size in Benelux

The Benelux wheat market stood at $X in 2022, picking up by 3.3% against the previous year. In general, consumption, however, continues to indicate a relatively flat trend pattern. The level of consumption peaked in 2022 and is expected to retain growth in the near future.

Wheat Production in Benelux

In value terms, wheat production contracted slightly to $X in 2022 estimated in export price. Overall, production, however, continues to indicate a perceptible reduction. The growth pace was the most rapid in 2017 when the production volume increased by 38% against the previous year. The level of production peaked at $X in 2013; however, from 2014 to 2022, production remained at a lower figure.

The countries with the highest volumes of production in 2022 were Belgium (X tons), the Netherlands (X tons) and Luxembourg (X tons), together comprising 99.9% of total production.

From 2012 to 2022, the most notable rate of growth in terms of production, amongst the key producing countries, was attained by Luxembourg (with a CAGR of -0.6%), while production for the other leaders experienced a decline in the production figures.

In 2022, the average yield of wheat in Benelux expanded significantly to X tons per ha, increasing by 5.6% compared with 2021. In general, the yield, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when the yield increased by 21%. The level of yield peaked at X tons per ha in 2015; however, from 2016 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.

The wheat harvested area contracted slightly to X ha in 2022, falling by -3.6% compared with the previous year. Over the period under review, the harvested area recorded a slight slump. The most prominent rate of growth was recorded in 2021 with an increase of 7.8% against the previous year. Over the period under review, the harvested area dedicated to wheat production reached the maximum at X ha in 2012; however, from 2013 to 2022, the harvested area failed to regain momentum.

Wheat Exports

Exports in Benelux

In 2022, the amount of wheat exported in Benelux contracted notably to X tons, with a decrease of -29% on 2021. In general, exports showed a abrupt downturn. The most prominent rate of growth was recorded in 2014 with an increase of 11%. As a result, the exports attained the peak of X tons. From 2015 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, wheat exports contracted markedly to $X in 2022. Overall, exports showed a deep slump. The most prominent rate of growth was recorded in 2018 when exports increased by 13% against the previous year. Over the period under review, the exports attained the maximum at $X in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

Exports by Country

Belgium (X tons) and the Netherlands (X tons) dominates exports structure, together generating 97% of total exports. Luxembourg (X tons) held a relatively small share of total exports.

From 2012 to 2022, the biggest increases were recorded for Luxembourg (with a CAGR of -5.5%), while shipments for the other leaders experienced a decline in the exports figures.

In value terms, Belgium ($X), the Netherlands ($X) and Luxembourg ($X) appeared to be the countries with the highest levels of exports in 2022.

Luxembourg, with a CAGR of -3.7%, recorded the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced a decline in the exports figures.

Export Prices by Country

In 2022, the export price in Benelux amounted to $X per ton, rising by 14% against the previous year. Export price indicated slight growth from 2012 to 2022: its price increased at an average annual rate of +1.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, wheat export price increased by +50.3% against 2019 indices. The pace of growth appeared the most rapid in 2017 when the export price increased by 21%. The level of export peaked in 2022 and is expected to retain growth in the near future.

Average prices varied noticeably amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Luxembourg ($X per ton), while the Netherlands ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Luxembourg (+1.9%), while the other leaders experienced more modest paces of growth.

Wheat Imports

Imports in Benelux

In 2022, approx. X tons of wheat were imported in Benelux; shrinking by -17.3% on the previous year's figure. Overall, imports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 when imports increased by 19%. As a result, imports attained the peak of X tons. From 2016 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, wheat imports amounted to $X in 2022. In general, imports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of 39% against the previous year. Over the period under review, imports hit record highs in 2022 and are likely to see gradual growth in years to come.

Imports by Country

The Netherlands (X tons) and Belgium (X tons) dominates imports structure, together making up 98% of total imports. Luxembourg (X tons) took a little share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Luxembourg (with a CAGR of +1.9%), while imports for the other leaders experienced a decline in the imports figures.

In value terms, the largest wheat importing markets in Benelux were the Netherlands ($X), Belgium ($X) and Luxembourg ($X).

Luxembourg, with a CAGR of +3.6%, recorded 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 more modest paces of growth.

Import Prices by Country

In 2022, the import price in Benelux amounted to $X per ton, rising by 24% against the previous year. Import price indicated slight growth from 2012 to 2022: its price increased at an average annual rate of +1.2% 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 +81.5% against 2016 indices. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Luxembourg ($X per ton), while the Netherlands ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Luxembourg (+1.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform