Canada: Buckwheat Market 2024

Buckwheat Market Size in Canada

The Canadian buckwheat market shrank sharply to $X in 2022, which is down by -27.6% against the previous year. Overall, consumption, however, posted a resilient increase. Over the period under review, the market reached the maximum level at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Buckwheat Production in Canada

In value terms, buckwheat production shrank significantly to $X in 2022 estimated in export price. Over the period under review, production showed significant growth. The pace of growth appeared the most rapid in 2013 when the production volume increased by 276%. Over the period under review, production attained the peak level at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

The average yield of buckwheat in Canada skyrocketed to X tons per ha in 2022, picking up by 45% on 2021 figures. In general, the yield, however, faced a deep reduction. Over the period under review, the average buckwheat yield hit record highs at X tons per ha in 2016; however, from 2017 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.

In 2022, the total area harvested in terms of buckwheat production in Canada reduced markedly to X ha, with a decrease of -25.4% on 2021 figures. Overall, the harvested area, however, enjoyed significant growth. The most prominent rate of growth was recorded in 2021 when the harvested area increased by 103%. As a result, the harvested area attained the peak level of X ha, and then declined markedly in the following year.

Buckwheat Exports

Exports from Canada

In 2022, the amount of buckwheat exported from Canada soared to X tons, with an increase of 55% compared with the year before. Over the period under review, exports enjoyed slight growth. The pace of growth was the most pronounced in 2016 with an increase of 108%. As a result, the exports attained the peak of X tons. From 2017 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, buckwheat exports surged to $X in 2022. Overall, exports continue to indicate perceptible growth. The growth pace was the most rapid in 2016 when exports increased by 93%. As a result, the exports reached the peak of $X. From 2017 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

The United States (X tons) was the main destination for buckwheat exports from Canada, with a 78% share of total exports. Moreover, buckwheat exports to the United States exceeded the volume sent to the second major destination, Ukraine (X tons), sixfold. Japan (X tons) ranked third in terms of total exports with a 7.3% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States stood at +4.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ukraine (0.0% per year) and Japan (-13.0% per year).

In value terms, the United States ($X) remains the key foreign market for buckwheat exports from Canada, comprising 89% of total exports. The second position in the ranking was held by Japan ($X), with a 5.3% share of total exports. It was followed by Ukraine, with a 5% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States totaled +7.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (-11.6% per year) and Ukraine (0.0% per year).

Export Prices by Country

The average buckwheat export price stood at $X per ton in 2022, increasing by 22% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.5%. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Ukraine ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+2.3%), while the prices for the other major destinations experienced mixed trend patterns.

Buckwheat Imports

Imports into Canada

In 2022, purchases abroad of buckwheat decreased by -34.1% to X tons, falling for the second year in a row after two years of growth. Overall, imports saw a perceptible curtailment. The pace of growth appeared the most rapid in 2019 when imports increased by 80% against the previous year. Imports peaked at X tons in 2017; however, from 2018 to 2022, imports failed to regain momentum.

In value terms, buckwheat imports shrank sharply to $X in 2022. In general, imports, however, enjoyed a prominent expansion. The most prominent rate of growth was recorded in 2015 with an increase of 50% against the previous year. Imports peaked at $X in 2021, and then fell markedly in the following year.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of buckwheat to Canada, accounting for a 88% share of total imports. Moreover, buckwheat imports from China exceeded the figures recorded by the second-largest supplier, Russia (X tons), more than tenfold. The United States (X tons) ranked third in terms of total imports with a 3.4% share.

From 2012 to 2022, the average annual growth rate of volume from China totaled +2.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Russia (+11.6% per year) and the United States (-25.8% per year).

In value terms, China ($X) constituted the largest supplier of buckwheat to Canada, comprising 82% of total imports. The second position in the ranking was taken by the United States ($X), with an 11% share of total imports. It was followed by Russia, with a 4.9% share.

From 2012 to 2022, the average annual growth rate of value from China stood at +16.8%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-7.5% per year) and Russia (+28.9% per year).

Import Prices by Country

The average buckwheat import price stood at $X per ton in 2022, increasing by 15% against the previous year. Overall, the import price continues to indicate a prominent expansion. The growth pace was the most rapid in 2018 an increase of 63% against the previous year. The import price peaked in 2022 and is likely to see steady growth in the near future.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per ton), while the price for India ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+24.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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