Global Buckwheat Market 2024

Buckwheat Market Size

The global buckwheat market was estimated at $X in 2022, surging by 4.2% against the previous year. Over the period under review, consumption saw a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2017 to 2022, the growth of the global market remained at a somewhat lower figure.

Buckwheat Production

In value terms, buckwheat production expanded markedly to $X in 2022 estimated in export price. Over the period under review, production showed a mild decline. The pace of growth was the most pronounced in 2020 when the production volume increased by 26%. Over the period under review, global production reached the maximum level at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

The countries with the highest volumes of production in 2022 were Russia (X tons), China (X tons) and France (X tons), with a combined 70% share of global production. Poland, Ukraine, the United States, Lithuania, Brazil, Kazakhstan and Japan lagged somewhat behind, together comprising a further 24%.

From 2012 to 2022, the most notable rate of growth in terms of production, amongst the key producing countries, was attained by Lithuania (with a CAGR of +8.5%), while production for the other global leaders experienced more modest paces of growth.

In 2022, the global average buckwheat yield rose slightly to X tons per ha, with an increase of 1.8% against 2021. The yield figure increased at an average annual rate of +1.4% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being observed in certain years. The pace of growth was the most pronounced in 2013 with an increase of 10%. The global 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.

In 2022, the total area harvested in terms of buckwheat production worldwide shrank to X ha, falling by -3.1% against 2021. In general, the harvested area continues to indicate a mild decline. The pace of growth appeared the most rapid in 2016 with an increase of 22% against the previous year. Over the period under review, the harvested area dedicated to buckwheat production reached the maximum at X ha in 2012; however, from 2013 to 2022, the harvested area failed to regain momentum.

Buckwheat Exports

Exports

In 2022, the amount of buckwheat exported worldwide declined to X tons, which is down by -8.1% against the previous year. The total export volume increased at an average annual rate of +3.9% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2014 with an increase of 21% against the previous year. The global exports peaked at X tons in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

In value terms, buckwheat exports dropped to $X in 2022. In general, total exports indicated a buoyant increase from 2012 to 2022: its value increased at an average annual rate of +6.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +56.5% against 2019 indices. The growth pace was the most rapid in 2021 with an increase of 32% against the previous year. As a result, the exports reached the peak of $X, and then dropped in the following year.

Exports by Country

Russia represented the main exporting country with an export of around X tons, which amounted to 40% of total exports. It was distantly followed by the United States (X tons), Poland (X tons), Latvia (X tons), Lithuania (X tons), China (X tons) and Kazakhstan (X tons), together constituting a 41% share of total exports.

Exports from Russia increased at an average annual rate of +22.2% from 2012 to 2022. At the same time, Kazakhstan (+28.0%), Lithuania (+17.8%), Latvia (+16.1%) and Poland (+4.2%) displayed positive paces of growth. Moreover, Kazakhstan emerged as the fastest-growing exporter exported in the world, with a CAGR of +28.0% from 2012-2022. By contrast, the United States (-2.1%) and China (-15.0%) illustrated a downward trend over the same period. Russia (+32 p.p.), Lithuania (+4.6 p.p.), Latvia (+4.6 p.p.) and Kazakhstan (+4.3 p.p.) significantly strengthened its position in terms of the global exports, while the United States and China saw its share reduced by -8.3% and -35.2% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Russia ($X) remains the largest buckwheat supplier worldwide, comprising 28% of global exports. The second position in the ranking was held by Poland ($X), with a 10% share of global exports. It was followed by the United States, with a 9.1% share.

From 2012 to 2022, the average annual rate of growth in terms 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 the United States (-2.1% per year).

Export Prices by Country

The average buckwheat export price stood at $X per ton in 2022, growing by 4.7% against the previous year. In general, export price indicated a temperate expansion from 2012 to 2022: its price increased at an average annual rate of +2.6% 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 +76.8% against 2019 indices. The pace of growth appeared the most rapid in 2020 an increase of 40%. Over the period under review, the average export prices reached the maximum in 2022 and is likely to see gradual 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 Poland ($X per ton), while Russia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Poland (+7.8%), while the other global leaders experienced more modest paces of growth.

Buckwheat Imports

Imports

In 2022, the amount of buckwheat imported worldwide contracted to X tons, reducing by -6.1% against the previous year. Over the period under review, total imports indicated a moderate expansion from 2012 to 2022: its volume increased at an average annual rate of +4.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +19.6% against 2020 indices. The pace of growth was the most pronounced in 2014 with an increase of 32% against the previous year. Over the period under review, global imports attained the maximum at X tons in 2018; however, from 2019 to 2022, imports remained at a lower figure.

In value terms, buckwheat imports amounted to $X in 2022. Overall, imports, however, posted a strong expansion. The growth pace was the most rapid in 2021 with an increase of 54% against the previous year. Over the period under review, global imports reached the maximum in 2022 and are likely to see steady growth in the immediate term.

Imports by Country

In 2022, Japan (X tons), followed by Lithuania (X tons), China (X tons), Poland (X tons), Italy (X tons), Azerbaijan (X tons) and Latvia (X tons) represented the largest importers of buckwheat, together committing 58% of total imports. The following importers - Ukraine (X tons), Ethiopia (X tons), France (X tons), Germany (X tons), Georgia (X tons) and the United States (X tons) - together made up 21% of total imports.

From 2012 to 2022, the biggest increases were recorded for China (with a CAGR of +290.3%), while purchases for the other global leaders experienced more modest paces of growth.

In value terms, Japan ($X), Lithuania ($X) and Italy ($X) appeared to be the countries with the highest levels of imports in 2022, with a combined 30% share of global imports. Poland, Azerbaijan, Latvia, China, the United States, Ukraine, France, Germany, Georgia and Ethiopia lagged somewhat behind, together comprising a further 45%.

In terms of the main importing countries, China, with a CAGR of +281.0%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average buckwheat import price amounted to $X per ton, surging by 15% against the previous year. Overall, import price indicated a pronounced expansion from 2012 to 2022: its price increased at an average annual rate of +2.4% 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 +88.2% against 2019 indices. The growth pace was the most rapid in 2020 an increase of 35% against the previous year. Global import price peaked in 2022 and is expected to retain growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Azerbaijan (+10.3%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Platform

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