Croatia: Wheat Market 2024

Wheat Market Size in Croatia

The Croatian wheat market dropped notably to $X in 2022, waning by -18.1% against the previous year. Overall, consumption showed a abrupt shrinkage. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Wheat Production in Croatia

In value terms, wheat production rose modestly to $X in 2022 estimated in export price. In general, production recorded a abrupt decline. The pace of growth appeared the most rapid in 2018 when the production volume increased by 20%. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

In 2022, the average wheat yield in Croatia shrank to X tons per ha, waning by -6.2% on 2021. The yield figure increased at an average annual rate of +1.6% 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 2015 with an increase of 29% against the previous year. The wheat yield peaked at X tons per ha in 2021, and then contracted 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.

In 2022, the wheat harvested area in Croatia amounted to X ha, standing approx. at the year before. Overall, the harvested area, however, continues to indicate a perceptible reduction. The pace of growth appeared the most rapid in 2016 with an increase of 22%. Over the period under review, the harvested area dedicated to wheat production attained the peak figure at X ha in 2013; however, from 2014 to 2022, the harvested area stood at a somewhat lower figure.

Wheat Exports

Exports from Croatia

In 2022, approx. X tons of wheat were exported from Croatia; growing by 7.6% against 2021. In general, exports continue to indicate temperate growth. The most prominent rate of growth was recorded in 2016 when exports increased by 80%. Over the period under review, the exports attained the maximum in 2022 and are likely to continue growth in years to come.

In value terms, wheat exports soared to $X in 2022. Over the period under review, exports saw prominent growth. The pace of growth appeared the most rapid in 2020 with an increase of 69% against the previous year. Over the period under review, the exports hit record highs in 2022 and are likely to see steady growth in years to come.

Exports by Country

Italy (X tons) was the main destination for wheat exports from Croatia, with a 67% share of total exports. Moreover, wheat exports to Italy exceeded the volume sent to the second major destination, Bosnia and Herzegovina (X tons), sixfold. The third position in this ranking was taken by Slovenia (X tons), with a 10% share.

From 2012 to 2022, the average annual growth rate of volume to Italy stood at +9.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bosnia and Herzegovina (-6.3% per year) and Slovenia (+28.6% per year).

In value terms, Italy ($X) remains the key foreign market for wheat exports from Croatia, comprising 67% of total exports. The second position in the ranking was held by Slovenia ($X), with a 10% share of total exports. It was followed by Bosnia and Herzegovina, with a 10% share.

From 2012 to 2022, the average annual growth rate of value to Italy totaled +12.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Slovenia (+30.7% per year) and Bosnia and Herzegovina (-4.2% per year).

Export Prices by Country

The average wheat export price stood at $X per ton in 2022, jumping by 33% against the previous year. In general, export price indicated a measured increase from 2012 to 2022: its price increased at an average annual rate of +2.2% 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 +71.9% against 2018 indices. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably for the major foreign markets. In 2022, amid the top suppliers, the countries with the highest prices were Slovenia ($X per ton) and Austria ($X per ton), while the average price for exports to Hungary ($X per ton) and Bosnia and Herzegovina ($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 Bosnia and Herzegovina (+2.3%), while the prices for the other major destinations experienced more modest paces of growth.

Wheat Imports

Imports into Croatia

Wheat imports into Croatia dropped significantly to X tons in 2022, which is down by -21.5% compared with the previous year. Over the period under review, imports, however, recorded significant growth. The growth pace was the most rapid in 2013 with an increase of 2,321% against the previous year. Over the period under review, imports hit record highs at X tons in 2018; however, from 2019 to 2022, imports remained at a lower figure.

In value terms, wheat imports expanded notably to $X in 2022. Overall, imports, however, posted a significant expansion. The pace of growth appeared the most rapid in 2013 when imports increased by 1,119%. Over the period under review, imports reached the maximum at $X in 2018; however, from 2019 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Hungary (X tons) constituted the largest supplier of wheat to Croatia, accounting for a 49% share of total imports. Moreover, wheat imports from Hungary exceeded the figures recorded by the second-largest supplier, Serbia (X tons), twofold. The third position in this ranking was taken by Bosnia and Herzegovina (X tons), with a 19% share.

From 2012 to 2022, the average annual growth rate of volume from Hungary amounted to +57.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Serbia (+3.7% per year) and Bosnia and Herzegovina (+41.1% per year).

In value terms, Hungary ($X) constituted the largest supplier of wheat to Croatia, comprising 50% of total imports. The second position in the ranking was taken by Bosnia and Herzegovina ($X), with a 20% share of total imports. It was followed by Serbia, with an 18% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Hungary stood at +57.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Bosnia and Herzegovina (+37.2% per year) and Serbia (+7.0% per year).

Import Prices by Country

In 2022, the average wheat import price amounted to $X per ton, surging by 34% against the previous year. Over the period under review, the import price, however, recorded a noticeable reduction. Over the period under review, average import prices reached the maximum at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Bosnia and Herzegovina ($X per ton) and Austria ($X per ton), while the price for Serbia ($X per ton) and Hungary ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Serbia (+3.2%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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