Europe: Buckwheat Market 2024

Buckwheat Market Size in Europe

The Europe buckwheat market expanded rapidly to $X in 2022, surging by 6.1% against the previous year. Overall, consumption, however, recorded a relatively flat trend pattern. The level of consumption peaked at $X in 2016; however, from 2017 to 2022, consumption failed to regain momentum.

Buckwheat Production in Europe

In value terms, buckwheat production amounted to $X in 2022 estimated in export price. In general, production showed a slight curtailment. The most prominent rate of growth was recorded in 2020 when the production volume increased by 61% against the previous year. The level of production peaked at $X in 2016; however, from 2017 to 2022, production remained at a lower figure.

Russia (X tons) remains the largest buckwheat producing country in Europe, accounting for 62% of total volume. Moreover, buckwheat production in Russia exceeded the figures recorded by the second-largest producer, France (X tons), fivefold. The third position in this ranking was held by Poland (X tons), with an 8.4% share.

In Russia, buckwheat production expanded at an average annual rate of +1.3% over the period from 2012-2022. In the other countries, the average annual rates were as follows: France (+6.5% per year) and Poland (+2.7% per year).

In 2022, the average buckwheat yield in Europe totaled X tons per ha, rising by 3.3% on the previous year's figure. The yield figure increased at an average annual rate of +2.9% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations throughout the analyzed period. The growth pace was the most rapid in 2013 with an increase of 19% against the previous year. Over the period under review, the buckwheat yield hit record highs 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 fell to X ha in 2022, which is down by -3.9% compared with 2021. Overall, the harvested area showed a slight shrinkage. The pace of growth appeared the most rapid in 2016 with an increase of 26%. 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 Europe

In 2022, the amount of buckwheat exported in Europe fell to X tons, declining by -11.2% compared with 2021. In general, exports, however, recorded a strong expansion. The growth pace was the most rapid in 2013 when exports increased by 76% against the previous year. The volume of export peaked at X tons in 2021, and then dropped in the following year.

In value terms, buckwheat exports fell to $X in 2022. Over the period under review, exports, however, saw buoyant growth. The pace of growth was the most pronounced in 2021 when exports increased by 50% against the previous year. As a result, the exports attained the peak of $X, and then dropped in the following year.

Exports by Country

Russia dominates exports structure, finishing at X tons, which was near 56% of total exports in 2022. It was distantly followed by Poland (X tons), Latvia (X tons), Lithuania (X tons) and Estonia (X tons), together creating a 33% share of total exports. Germany (X tons) and the Netherlands (X tons) took a little share of total exports.

Exports from Russia increased at an average annual rate of +22.2% from 2012 to 2022. At the same time, Estonia (+36.4%), Lithuania (+17.8%), Latvia (+16.1%), Germany (+12.9%) and Poland (+4.2%) displayed positive paces of growth. Moreover, Estonia emerged as the fastest-growing exporter exported in Europe, with a CAGR of +36.4% from 2012-2022. By contrast, the Netherlands (-5.3%) illustrated a downward trend over the same period. While the share of Russia (+26 p.p.), Estonia (+3.8 p.p.) and Lithuania (+2.2 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of the Netherlands (-13.2 p.p.) and Poland (-14.9 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Russia ($X) remains the largest buckwheat supplier in Europe, comprising 39% of total exports. The second position in the ranking was taken by Poland ($X), with a 14% share of total exports. It was followed by Lithuania, with an 11% share.

From 2012 to 2022, the average annual growth rate of value in Russia stood at +22.2%. The remaining exporting countries recorded the following average annual rates of exports growth: Poland (+12.4% per year) and Lithuania (+24.6% per year).

Export Prices by Country

The export price in Europe stood at $X per ton in 2022, picking up by 3.8% against the previous year. Export price indicated a modest increase from 2012 to 2022: its price increased at an average annual rate of +1.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, buckwheat export price increased by +108.5% against 2019 indices. The growth pace was the most rapid in 2020 when the export price increased by 62% against the previous year. Over the period under review, the export prices hit record highs in 2022 and is expected to retain growth in years to come.

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 the Netherlands ($X per ton), while Russia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+8.5%), while the other leaders experienced more modest paces of growth.

Buckwheat Imports

Imports in Europe

In 2022, supplies from abroad of buckwheat decreased by -15.4% to X tons for the first time since 2019, thus ending a two-year rising trend. Over the period under review, imports, however, showed a buoyant expansion. The pace of growth appeared the most rapid in 2015 when imports increased by 44% against the previous year. Over the period under review, imports hit record highs at X tons in 2021, and then reduced dramatically in the following year.

In value terms, buckwheat imports totaled $X in 2022. Overall, imports, however, continue to indicate a strong increase. The pace of growth appeared the most rapid in 2021 when imports increased by 54%. Over the period under review, imports attained the peak figure in 2022 and are likely to see steady growth in the immediate term.

Imports by Country

In 2022, Lithuania (X tons), Poland (X tons), Italy (X tons), Latvia (X tons), Ukraine (X tons), France (X tons), Germany (X tons), the Netherlands (X tons), Austria (X tons), Estonia (X tons), the Czech Republic (X tons) and Belgium (X tons) represented the key importer of buckwheat in Europe, mixing up 92% of total import.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Lithuania (with a CAGR of +35.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest buckwheat importing markets in Europe were Lithuania ($X), Italy ($X) and Poland ($X), with a combined 39% share of total imports.

Lithuania, with a CAGR of +44.6%, recorded the highest rates of growth with regard to the value of imports, among 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

The import price in Europe stood at $X per ton in 2022, surging by 23% against the previous year. Import price indicated a measured expansion from 2012 to 2022: its price increased at an average annual rate of +4.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, buckwheat import price increased by +104.5% against 2018 indices. The most prominent rate of growth was recorded in 2020 an increase of 26%. Over the period under review, import prices hit record highs in 2022 and is likely to continue growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+9.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform