Greece: Cereal Germ Market 2024

Cereal Germ Market Size in Greece

In 2021, after two years of growth, there was significant decline in the Greek cereal germ market, when its value decreased by -11.8% to $X. In general, consumption recorded a relatively flat trend pattern. As a result, consumption attained the peak level of $X, and then fell in the following year.

Cereal Germ Production in Greece

In value terms, cereal germ production shrank to $X in 2021 estimated in export price. Over the period under review, production continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when the production volume increased by 33% against the previous year. As a result, production attained the peak level of $X, and then shrank in the following year.

Cereal Germ Exports

Exports from Greece

In 2021, overseas shipments of cereal germ decreased by -24% to X tons for the first time since 2018, thus ending a two-year rising trend. In general, exports, however, saw a significant increase. The growth pace was the most rapid in 2017 when exports increased by 5,231% against the previous year. Over the period under review, the exports hit record highs at X tons in 2020, and then reduced markedly in the following year.

In value terms, cereal germ exports skyrocketed to $X in 2021. Overall, exports, however, continue to indicate significant growth. The most prominent rate of growth was recorded in 2017 with an increase of 3,269% against the previous year. Over the period under review, the exports hit record highs in 2021 and are expected to retain growth in the near future.

Exports by Country

Belgium (X tons) was the main destination for cereal germ exports from Greece, with a 61% share of total exports. Moreover, cereal germ exports to Belgium exceeded the volume sent to the second major destination, Cyprus (X tons), threefold. The third position in this ranking was held by Germany (X tons), with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Belgium amounted to +52.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Cyprus (+90.1% per year) and Germany (+28.8% per year).

In value terms, Belgium ($X) emerged as the key foreign market for cereal germ exports from Greece, comprising 69% of total exports. The second position in the ranking was taken by Germany ($X), with a 15% share of total exports. It was followed by Cyprus, with a 12% share.

From 2012 to 2021, the average annual growth rate of value to Belgium stood at +53.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+34.4% per year) and Cyprus (+96.2% per year).

Export Prices by Country

In 2021, the average cereal germ export price amounted to $X per ton, picking up by 184% against the previous year. In general, the export price showed strong growth. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was Germany ($X per ton), while the average price for exports to Bulgaria ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Germany (+4.4%), while the prices for the other major destinations experienced more modest paces of growth.

Cereal Germ Imports

Imports into Greece

In 2021, the amount of cereal germ imported into Greece soared to X tons, growing by 58% against the previous year's figure. Overall, imports, however, faced a precipitous descent. The pace of growth was the most pronounced in 2019 with an increase of 157% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, cereal germ imports reached $X in 2021. In general, imports, however, continue to indicate a deep slump. The pace of growth appeared the most rapid in 2020 with an increase of 44%. Over the period under review, imports reached the maximum at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

North Macedonia (X tons), Bulgaria (X tons) and the Netherlands (X tons) were the main suppliers of cereal germ imports to Greece, with a combined 69% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the Netherlands (with a CAGR of +49.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Italy ($X), Germany ($X) and the Netherlands ($X) were the largest cereal germ suppliers to Greece, with a combined 64% share of total imports.

Among the main suppliers, the Netherlands, with a CAGR of +50.2%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average cereal germ import price stood at $X per ton in 2021, with a decrease of -36.2% against the previous year. In general, the import price, however, enjoyed a prominent increase. The pace of growth was the most pronounced in 2020 an increase of 713%. As a result, import price reached the peak level of $X per ton, and then declined significantly in the following year.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Cyprus (+26.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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