China: Wheat Market 2024

Wheat Market Size in China

The Chinese wheat market declined to $X in 2022, with a decrease of -7.4% against the previous year. In general, consumption recorded a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Wheat Production in China

In value terms, wheat production reduced rapidly to $X in 2022 estimated in export price. Overall, production saw a pronounced downturn. The growth pace was the most rapid in 2017 with an increase of 130% against the previous year. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

In 2022, the average wheat yield in China reduced slightly to X tons per ha, remaining constant against the previous year's figure. The yield figure increased at an average annual rate of +1.5% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. The pace of growth appeared the most rapid in 2019 when the yield increased by 3.9%. Over the period under review, the average wheat yield hit record highs at X tons per ha in 2021, and then dropped in the following year. 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 in China contracted slightly to X ha in 2022, therefore, remained relatively stable against 2021 figures. Over the period under review, the harvested area showed a relatively flat trend pattern. The growth pace was the most rapid in 2015 when the harvested area increased by 2.2%. The wheat harvested area peaked at X ha in 2016; however, from 2017 to 2022, the harvested area stood at a somewhat lower figure.

Wheat Exports

Exports from China

In 2022, wheat exports from China surged to X tons, picking up by 73% on the year before. Overall, exports posted a significant increase. The most prominent rate of growth was recorded in 2013 with an increase of 10,079,900%. Over the period under review, the exports attained the maximum at X tons in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

In value terms, wheat exports surged to $X in 2022. Over the period under review, exports continue to indicate a significant expansion. The most prominent rate of growth was recorded in 2013 when exports increased by 9,163,536% against the previous year. The exports peaked at $X in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

Exports by Country

Ethiopia (X tons), Kyrgyzstan (X tons) and Eritrea (X tons) were the main destinations of wheat exports from China, together accounting for 73% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Eritrea (with a CAGR of 0.0%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for wheat exported from China were Ethiopia ($X), Eritrea ($X) and Kyrgyzstan ($X), with a combined 72% share of total exports.

In terms of the main countries of destination, Eritrea, with a CAGR of 0.0%, saw 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 average wheat export price stood at $X per ton in 2022, growing by 5% against the previous year. Over the period under review, the export price recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 when the average export price increased by 42%. Over the period under review, the average export prices hit record highs in 2022 and is likely to continue growth in the immediate term.

Average prices varied somewhat for the major external markets. In 2022, amid the top suppliers, the countries with the highest prices were Eritrea ($X per ton) and Ethiopia ($X per ton), while the average price for exports to Kyrgyzstan ($X per ton) and Afghanistan ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Ethiopia (+8.8%), while the prices for the other major destinations experienced mixed trend patterns.

Wheat Imports

Imports into China

For the fourth consecutive year, China recorded growth in supplies from abroad of wheat, which increased by 1.7% to X tons in 2022. Over the period under review, imports enjoyed a buoyant expansion. The most prominent rate of growth was recorded in 2020 when imports increased by 154%. Over the period under review, imports attained the maximum in 2022 and are likely to continue growth in the near future.

In value terms, wheat imports soared to $X in 2022. Overall, imports showed a resilient expansion. The pace of growth was the most pronounced in 2020 when imports increased by 151%. Imports peaked in 2022 and are likely to see steady growth in years to come.

Imports by Country

In 2022, Australia (X tons) constituted the largest wheat supplier to China, accounting for a 58% share of total imports. Moreover, wheat imports from Australia exceeded the figures recorded by the second-largest supplier, Canada (X tons), threefold. The third position in this ranking was taken by France (X tons), with a 17% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Australia amounted to +9.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Canada (+16.2% per year) and France (+64.2% per year).

In value terms, Australia ($X) constituted the largest supplier of wheat to China, comprising 56% of total imports. The second position in the ranking was held by Canada ($X), with a 21% share of total imports. It was followed by France, with a 16% share.

From 2012 to 2022, the average annual growth rate of value from Australia totaled +12.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Canada (+17.8% per year) and France (+62.8% per year).

Import Prices by Country

In 2022, the average wheat import price amounted to $X per ton, surging 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, import price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Canada ($X per ton) and the United States ($X per ton), while the price for France ($X per ton) and Australia ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Kazakhstan (+6.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :