CIS: Buckwheat Market 2024

Buckwheat Market Size in CIS

The CIS buckwheat market expanded notably to $X in 2022, picking up by 8.6% against the previous year. Over the period under review, consumption showed a mild downturn. The level of consumption peaked at $X in 2016; however, from 2017 to 2022, consumption remained at a lower figure.

Buckwheat Production in CIS

In value terms, buckwheat production skyrocketed to $X in 2022 estimated in export price. Over the period under review, production showed a perceptible downturn. The pace of growth was the most pronounced in 2020 when the production volume increased by 87%. The level of production peaked at $X in 2016; however, from 2017 to 2022, production stood at a somewhat lower figure.

The country with the largest volume of buckwheat production was Russia (X tons), comprising approx. 91% of total volume. Moreover, buckwheat production in Russia exceeded the figures recorded by the second-largest producer, Kazakhstan (X tons), more than tenfold.

From 2012 to 2022, the average annual growth rate of volume in Russia stood at +1.3%. In the other countries, the average annual rates were as follows: Kazakhstan (+2.1% per year) and Belarus (-3.6% per year).

The average buckwheat yield amounted to X tons per ha in 2022, picking up by 3.5% against the previous year's figure. The yield figure increased at an average annual rate of +2.9% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2013 when the yield increased by 21%. Over the period under review, the buckwheat yield reached the maximum level at X tons per ha in 2020; however, from 2021 to 2022, the yield failed to regain momentum. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, the buckwheat harvested area in the CIS contracted to X ha, waning by -6.3% on the previous year. Overall, the harvested area recorded a slight reduction. The pace of growth appeared the most rapid in 2016 with an increase of 26% against the previous year. As a result, the harvested area attained the peak level of X ha. From 2017 to 2022, the growth of the buckwheat harvested area remained at a lower figure.

Buckwheat Exports

Exports in CIS

In 2022, exports of buckwheat in the CIS dropped to X tons, reducing by -9.5% compared with 2021 figures. In general, exports, however, showed significant growth. The pace of growth was the most pronounced in 2017 when exports increased by 167%. The volume of export peaked at X tons in 2021, and then contracted in the following year.

In value terms, buckwheat exports shrank sharply to $X in 2022. Over the period under review, exports, however, continue to indicate a significant expansion. The pace of growth appeared the most rapid in 2017 with an increase of 144%. The level of export peaked at $X in 2021, and then fell dramatically in the following year.

Exports by Country

Russia represented the major exporter of buckwheat in the CIS, with the volume of exports recording X tons, which was near 87% of total exports in 2022. It was distantly followed by Kazakhstan (X tons), comprising an 11% share of total exports. Belarus (X tons) held a relatively small share of total exports.

From 2012 to 2022, average annual rates of growth with regard to buckwheat exports from Russia stood at +22.2%. At the same time, Belarus (+46.6%) and Kazakhstan (+28.0%) displayed positive paces of growth. Moreover, Belarus emerged as the fastest-growing exporter exported in the CIS, with a CAGR of +46.6% from 2012-2022. Kazakhstan (+3.6 p.p.) and Belarus (+1.8 p.p.) significantly strengthened its position in terms of the total exports, while Russia saw its share reduced by -5.4% from 2012 to 2022, respectively.

In value terms, Russia ($X) remains the largest buckwheat supplier in the CIS, comprising 85% of total exports. The second position in the ranking was taken by Kazakhstan ($X), with a 13% share of total exports.

From 2012 to 2022, the average annual growth rate of value in Russia amounted to +22.2%. In the other countries, the average annual rates were as follows: Kazakhstan (+33.5% per year) and Belarus (+41.1% per year).

Export Prices by Country

The export price in the CIS stood at $X per ton in 2022, which is down by -8.2% against the previous year. In general, the export price, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 an increase of 63%. Over the period under review, the export prices hit record highs at $X per ton in 2021, and then contracted in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Kazakhstan (+4.3%), while the other leaders experienced a decline in the export price figures.

Buckwheat Imports

Imports in CIS

In 2022, approx. X tons of buckwheat were imported in the CIS; picking up by 35% compared with the previous year's figure. In general, imports posted a resilient expansion. The pace of growth appeared the most rapid in 2021 when imports increased by 135%. The volume of import peaked in 2022 and is expected to retain growth in the near future.

In value terms, buckwheat imports skyrocketed to $X in 2022. Overall, imports posted a resilient increase. The pace of growth was the most pronounced in 2021 when imports increased by 394%. The level of import peaked in 2022 and is likely to see steady growth in years to come.

Imports by Country

Azerbaijan represented the major importing country with an import of around X tons, which resulted at 63% of total imports. It was distantly followed by Kazakhstan (X tons), mixing up a 28% share of total imports. The following importers - Kyrgyzstan (X tons), Belarus (X tons) and Armenia (X tons) - together made up 8.1% of total imports.

From 2012 to 2022, average annual rates of growth with regard to buckwheat imports into Azerbaijan stood at +11.3%. At the same time, Belarus (+43.6%), Kazakhstan (+20.1%), Armenia (+14.3%) and Kyrgyzstan (+7.0%) displayed positive paces of growth. Moreover, Belarus emerged as the fastest-growing importer imported in the CIS, with a CAGR of +43.6% from 2012-2022. From 2012 to 2022, the share of Kazakhstan and Belarus increased by +14 and +1.8 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Azerbaijan ($X) constitutes the largest market for imported buckwheat in the CIS, comprising 74% of total imports. The second position in the ranking was held by Kazakhstan ($X), with a 14% share of total imports. It was followed by Kyrgyzstan, with a 6.9% share.

From 2012 to 2022, the average annual growth rate of value in Azerbaijan amounted to +22.8%. The remaining importing countries recorded the following average annual rates of imports growth: Kazakhstan (+14.0% per year) and Kyrgyzstan (+21.1% per year).

Import Prices by Country

The import price in the CIS stood at $X per ton in 2022, rising by 14% against the previous year. Over the period under review, the import price recorded a strong increase. The most prominent rate of growth was recorded in 2021 an increase of 110% against the previous year. The level of import peaked in 2022 and is expected to retain growth in the near future.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Kyrgyzstan ($X per ton), while Kazakhstan ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Kyrgyzstan (+13.1%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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