Eastern Asia: Market for Wheat and Meslin Flour 2024

Market Size for Wheat and Meslin Flour in Eastern Asia

The East Asian wheat and meslin flour market stood at $X in 2022, flattening at the previous year. The market value increased at an average annual rate of +1.5% over the period from 2012 to 2022; however, the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded in certain years. As a result, consumption reached the peak level of $X. From 2016 to 2022, the growth of the market failed to regain momentum.

Production of Wheat and Meslin Flour in Eastern Asia

In value terms, wheat and meslin flour production amounted to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.2% over the period from 2012 to 2022; however, the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2015 when the production volume increased by 12% against the previous year. As a result, production reached the peak level of $X. From 2016 to 2022, production growth remained at a somewhat lower figure.

Exports of Wheat and Meslin Flour

Exports in Eastern Asia

After two years of decline, overseas shipments of wheat and meslin flour increased by 14% to X tons in 2022. Over the period under review, exports, however, saw a noticeable downturn. The most prominent rate of growth was recorded in 2018 when exports increased by 29%. The volume of export peaked at X tons in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

In value terms, wheat and meslin flour exports soared to $X in 2022. Overall, exports, however, recorded a slight curtailment. The pace of growth was the most pronounced in 2018 when exports increased by 22%. Over the period under review, the exports hit record highs at $X in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Japan (X tons) and China (X tons) represented roughly 81% of total exports in 2022. South Korea (X tons) took a 10% share (based on physical terms) of total exports, which put it in second place, followed by Taiwan (Chinese) (6.9%). Hong Kong SAR (X tons) took a little share of total exports.

From 2012 to 2022, the biggest increases were recorded for South Korea (with a CAGR of +9.7%), while shipments for the other leaders experienced mixed trends in the exports figures.

In value terms, the largest wheat and meslin flour supplying countries in Eastern Asia were Japan ($X), China ($X) and South Korea ($X), with a combined 89% share of total exports.

Among the main exporting countries, South Korea, with a CAGR of +8.6%, 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 export price in Eastern Asia stood at $X per ton in 2022, surging by 5.4% against the previous year. Over the last decade, it increased at an average annual rate of +1.7%. The growth pace was the most rapid in 2021 an increase of 17%. Over the period under review, the export prices hit record highs in 2022 and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Hong Kong SAR ($X per ton), while China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (+4.5%), while the other leaders experienced mixed trends in the export price figures.

Imports of Wheat and Meslin Flour

Imports in Eastern Asia

After two years of decline, supplies from abroad of wheat and meslin flour increased by 9.1% to X tons in 2022. Overall, imports, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when imports increased by 45%. Over the period under review, imports hit record highs at X tons in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, wheat and meslin flour imports soared to $X in 2022. Over the period under review, imports recorded a relatively flat trend pattern. The growth pace was the most rapid in 2018 when imports increased by 28%. The level of import peaked at $X in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Hong Kong SAR (X tons), distantly followed by Democratic People's Republic of Korea (X tons), China (X tons) and Taiwan (Chinese) (X tons) represented the main importers of wheat and meslin flour, together mixing up 93% of total imports. The following importers - South Korea (X tons) and Macao SAR (X tons) - together made up 6.4% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by China (with a CAGR of +21.1%), while imports for the other leaders experienced mixed trends in the imports figures.

In value terms, Hong Kong SAR ($X), China ($X) and Democratic People's Republic of Korea ($X) were the countries with the highest levels of imports in 2022, with a combined 82% share of total imports.

China, with a CAGR of +22.8%, saw the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in Eastern Asia amounted to $X per ton, with an increase of 6% against the previous year. Over the period under review, the import price recorded a relatively flat trend pattern. The growth pace was the most rapid in 2021 when the import price increased by 25%. The level of import peaked in 2022 and is likely to see steady growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was South Korea ($X per ton), while Democratic People's Republic of Korea ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+5.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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