Greece: Quinoa Market 2024

Quinoa Market Size in Greece

In 2021, after five years of growth, there was significant decline in the Greek quinoa market, when its value decreased by -13.4% to $X. Over the period under review, consumption, however, enjoyed a significant increase. Quinoa consumption peaked at $X in 2020, and then shrank in the following year.

Quinoa Exports

Exports from Greece

In 2021, exports of quinoa from Greece skyrocketed to X tons, picking up by 61% against the year before. Overall, exports saw significant growth. The growth pace was the most rapid in 2016 with an increase of 2,638% against the previous year. Over the period under review, the exports reached the maximum in 2021 and are expected to retain growth in the near future.

In value terms, quinoa exports soared to $X in 2021. Over the period under review, exports showed a significant increase. The pace of growth appeared the most rapid in 2016 when exports increased by 1,478%. The exports peaked in 2021 and are expected to retain growth in years to come.

Exports by Country

Bulgaria (X tons) was the main destination for quinoa exports from Greece, with a 48% share of total exports. Moreover, quinoa exports to Bulgaria exceeded the volume sent to the second major destination, Cyprus (X tons), threefold. North Macedonia (X tons) ranked third in terms of total exports with an 11% share.

From 2014 to 2021, the average annual growth rate of volume to Bulgaria stood at +657.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Cyprus (+72.4% per year) and North Macedonia (+149.0% per year).

In value terms, Bulgaria ($X) remains the key foreign market for quinoa exports from Greece, comprising 46% of total exports. The second position in the ranking was taken by Cyprus ($X), with a 17% share of total exports. It was followed by North Macedonia, with a 9.7% share.

From 2014 to 2021, the average annual rate of growth in terms of value to Bulgaria totaled +584.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Cyprus (+55.1% per year) and North Macedonia (+126.8% per year).

Export Prices by Country

The average quinoa export price stood at $X per ton in 2021, shrinking by -4.3% against the previous year. Overall, the export price recorded a abrupt slump. The pace of growth was the most pronounced in 2018 when the average export price increased by 8.6% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2014; however, from 2015 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Albania ($X per ton), while the average price for exports to Poland ($X per ton) was amongst the lowest.

From 2014 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Malta (-1.3%), while the prices for the other major destinations experienced a decline.

Quinoa Imports

Imports into Greece

For the sixth year in a row, Greece recorded growth in overseas purchases of quinoa, which increased by 3.7% to X tons in 2021. Overall, imports showed a significant increase. The most prominent rate of growth was recorded in 2016 when imports increased by 380%. Over the period under review, imports attained the peak figure in 2021 and are expected to retain growth in the immediate term.

In value terms, quinoa imports shrank to $X in 2021. Over the period under review, imports continue to indicate a significant increase. The growth pace was the most rapid in 2014 when imports increased by 290%. Imports peaked at $X in 2020, and then contracted in the following year.

Imports by Country

In 2021, Peru (X tons) constituted the largest supplier of quinoa to Greece, accounting for a 42% share of total imports. Moreover, quinoa imports from Peru exceeded the figures recorded by the second-largest supplier, the Netherlands (X tons), threefold. The third position in this ranking was taken by Bulgaria (X tons), with a 14% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Peru totaled +173.3%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+31.0% per year) and Bulgaria (+352.2% per year).

In value terms, Peru ($X) constituted the largest supplier of quinoa to Greece, comprising 36% of total imports. The second position in the ranking was held by the Netherlands ($X), with a 15% share of total imports. It was followed by Bulgaria, with a 13% share.

From 2012 to 2021, the average annual growth rate of value from Peru amounted to +164.6%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+33.3% per year) and Bulgaria (+249.0% per year).

Import Prices by Country

The average quinoa import price stood at $X per ton in 2021, reducing by -9.7% against the previous year. Overall, import price indicated modest growth from 2012 to 2021: its price increased at an average annual rate of +1.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, quinoa import price decreased by -37.1% against 2015 indices. The pace of growth was the most pronounced in 2015 when the average import price increased by 48%. As a result, import price attained the peak level of $X per ton. From 2016 to 2021, the average import prices remained at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+23.6%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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