Cuba: Market for Wheat and Meslin Flour 2024

Market Size for Wheat and Meslin Flour in Cuba

In 2021, the Cuban wheat and meslin flour market decreased by -15.9% to $X for the first time since 2018, thus ending a two-year rising trend. Over the period under review, the total consumption indicated a slight increase from 2012 to 2021: its value increased at an average annual rate of +1.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +31.8% against 2018 indices. As a result, consumption attained the peak level of $X, and then reduced sharply in the following year.

Production of Wheat and Meslin Flour in Cuba

In value terms, wheat and meslin flour production contracted dramatically to $X in 2021 estimated in export price. In general, production, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 with an increase of 146%. As a result, production reached the peak level of $X, and then dropped notably in the following year.

Exports of Wheat and Meslin Flour

Exports from Cuba

In 2021, shipments abroad of wheat and meslin flour was finally on the rise to reach X tons for the first time since 2016, thus ending a four-year declining trend. Overall, exports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when exports increased by 94%. The exports peaked at X tons in 2016; however, from 2017 to 2021, the exports stood at a somewhat lower figure.

In value terms, wheat and meslin flour exports surged to $X in 2021. Over the period under review, exports, however, continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2014 when exports increased by 69% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2016; however, from 2017 to 2021, the exports remained at a lower figure.

Exports by Country

The Dominican Republic (X tons) was the main destination for wheat and meslin flour exports from Cuba, accounting for a 76% share of total exports. Moreover, wheat and meslin flour exports to the Dominican Republic exceeded the volume sent to the second major destination, Trinidad and Tobago (X tons), threefold.

From 2012 to 2021, the average annual rate of growth in terms of volume to the Dominican Republic totaled +28.4%.

In value terms, the Dominican Republic ($X) remains the key foreign market for wheat and meslin flour exports from Cuba, comprising 68% of total exports. The second position in the ranking was held by Trinidad and Tobago ($X), with a 32% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to the Dominican Republic stood at +26.0%.

Export Prices by Country

The average wheat and meslin flour export price stood at $X per ton in 2021, dropping by -18.3% against the previous year. Over the period under review, the export price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 an increase of 84%. The export price peaked at $X per ton in 2020, and then shrank notably in the following year.

There were significant differences in the average prices for the major foreign markets. In 2021, the country with the highest price was Trinidad and Tobago ($X per ton), while the average price for exports to the Dominican Republic totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Trinidad and Tobago (+7.8%), while the prices for the other major destinations experienced a decline.

Imports of Wheat and Meslin Flour

Imports into Cuba

In 2021, supplies from abroad of wheat and meslin flour increased by 2.8% to X tons, rising for the fifth year in a row after two years of decline. Overall, imports showed resilient growth. The pace of growth was the most pronounced in 2017 when imports increased by 123% against the previous year. Imports peaked in 2021 and are likely to continue growth in years to come.

In value terms, wheat and meslin flour imports expanded markedly to $X in 2021. Over the period under review, imports showed a buoyant expansion. The most prominent rate of growth was recorded in 2017 with an increase of 139%. Over the period under review, imports attained the maximum in 2021 and are expected to retain growth in the near future.

Imports by Country

In 2021, Turkey (X tons) constituted the largest supplier of wheat and meslin flour to Cuba, accounting for a 89% share of total imports. Moreover, wheat and meslin flour imports from Turkey exceeded the figures recorded by the second-largest supplier, Argentina (X tons), more than tenfold. Portugal (X tons) ranked third in terms of total imports with a 2.3% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Turkey amounted to +22.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Argentina (-9.9% per year) and Portugal (+129.5% per year).

In value terms, Turkey ($X) constituted the largest supplier of wheat and meslin flour to Cuba, comprising 77% of total imports. The second position in the ranking was held by Argentina ($X), with a 16% share of total imports. It was followed by Portugal, with a 2.2% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Turkey stood at +22.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Argentina (-1.2% per year) and Portugal (+102.0% per year).

Import Prices by Country

In 2021, the average wheat and meslin flour import price amounted to $X per ton, growing by 5.4% against the previous year. Overall, the import price, however, continues to indicate a slight curtailment. The growth pace was the most rapid in 2019 an increase of 13%. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Argentina ($X per ton), while the price for Turkey ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Argentina (+9.7%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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