Estonia: Buckwheat Market 2024

Buckwheat Market Size in Estonia

In 2022, the Estonian buckwheat market decreased by -25.7% to $X, falling for the second year in a row after two years of growth. Overall, consumption, however, showed a buoyant expansion. Buckwheat consumption peaked at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Buckwheat Production in Estonia

In value terms, buckwheat production skyrocketed to $X in 2022 estimated in export price. Overall, production continues to indicate significant growth. The pace of growth appeared the most rapid in 2016 when the production volume increased by 109%. Buckwheat production peaked at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

In 2022, the average yield of buckwheat in Estonia reached X tons per ha, flattening at the previous year. Over the period under review, the yield saw a buoyant increase. The most prominent rate of growth was recorded in 2013 when the yield increased by 67% against the previous year. The buckwheat yield peaked at X tons per ha in 2020; afterwards, it flattened through to 2022. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

The buckwheat harvested area in Estonia stood at X ha in 2022, stabilizing at the previous year. Overall, the harvested area showed a significant expansion. The pace of growth appeared the most rapid in 2016 with an increase of 120% against the previous year. Over the period under review, the harvested area dedicated to buckwheat production attained the peak figure in 2022 and is expected to retain growth in the immediate term.

Buckwheat Exports

Exports from Estonia

For the third year in a row, Estonia recorded growth in shipments abroad of buckwheat, which increased by 48% to X tons in 2022. Overall, exports showed a significant expansion. The most prominent rate of growth was recorded in 2015 when exports increased by 332%. The exports peaked in 2022 and are likely to see steady growth in years to come.

In value terms, buckwheat exports skyrocketed to $X in 2022. In general, exports saw a significant increase. The growth pace was the most rapid in 2015 with an increase of 329%. The exports peaked in 2022 and are expected to retain growth in the immediate term.

Exports by Country

Lithuania (X tons) was the main destination for buckwheat exports from Estonia, accounting for a 47% share of total exports. Moreover, buckwheat exports to Lithuania exceeded the volume sent to the second major destination, Poland (X tons), threefold. Italy (X tons) ranked third in terms of total exports with a 16% share.

From 2012 to 2022, the average annual growth rate of volume to Lithuania amounted to +78.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Poland (+37.6% per year) and Italy (+53.6% per year).

In value terms, Lithuania ($X) remains the key foreign market for buckwheat exports from Estonia, comprising 45% of total exports. The second position in the ranking was taken by Italy ($X), with an 18% share of total exports. It was followed by Poland, with a 15% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Lithuania amounted to +71.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (+59.6% per year) and Poland (+36.3% per year).

Export Prices by Country

The average buckwheat export price stood at $X per ton in 2022, increasing by 6.9% against the previous year. Overall, the export price, however, saw a pronounced contraction. The pace of growth appeared the most rapid in 2020 an increase of 54%. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Finland ($X per ton), while the average price for exports to Poland ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to France (+18.0%), while the prices for the other major destinations experienced more modest paces of growth.

Buckwheat Imports

Imports into Estonia

For the third consecutive year, Estonia recorded growth in purchases abroad of buckwheat, which increased by 39% to X tons in 2022. In general, imports enjoyed a strong increase. The pace of growth appeared the most rapid in 2016 with an increase of 119%. Over the period under review, imports reached the maximum in 2022 and are likely to continue growth in the near future.

In value terms, buckwheat imports surged to $X in 2022. Overall, imports continue to indicate a remarkable increase. The most prominent rate of growth was recorded in 2016 when imports increased by 120% against the previous year. Imports peaked in 2022 and are expected to retain growth in the immediate term.

Imports by Country

In 2022, Russia (X tons) constituted the largest supplier of buckwheat to Estonia, accounting for a 51% share of total imports. Moreover, buckwheat imports from Russia exceeded the figures recorded by the second-largest supplier, Mongolia (X tons), twofold. The third position in this ranking was held by Lithuania (X tons), with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Russia amounted to +286.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Mongolia (-21.4% per year) and Lithuania (-3.7% per year).

In value terms, Russia ($X), Latvia ($X) and Lithuania ($X) were the largest buckwheat suppliers to Estonia, together accounting for 76% of total imports.

Russia, with a CAGR of +205.5%, recorded the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average buckwheat import price stood at $X per ton in 2022, surging by 6.3% against the previous year. Over the period under review, the import price, however, saw a slight slump. The most prominent rate of growth was recorded in 2019 an increase of 45%. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Latvia ($X per ton), while the price for Russia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mongolia (+6.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform