Nepal: Buckwheat Market 2024

Buckwheat Market Size in Nepal

In 2022, the Nepalese buckwheat market was finally on the rise to reach $X after two years of decline. Overall, the total consumption indicated a tangible increase from 2012 to 2022: its value increased at an average annual rate of +3.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -20.3% against 2019 indices. Buckwheat consumption peaked at $X in 2016; however, from 2017 to 2022, consumption failed to regain momentum.

Buckwheat Production in Nepal

In value terms, buckwheat production stood at $X in 2022 estimated in export price. The total output value increased at an average annual rate of +3.0% from 2012 to 2022; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2013 when the production volume increased by 27%. Over the period under review, production hit record highs at $X in 2017; however, from 2018 to 2022, production stood at a somewhat lower figure.

The average yield of buckwheat in Nepal declined slightly to X tons per ha in 2022, remaining relatively unchanged against 2021. The yield figure increased at an average annual rate of +1.6% over the period from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations in certain years. The most prominent rate of growth was recorded in 2016 when the yield increased by 6.9% against the previous year. Over the period under review, the average buckwheat yield reached the maximum level at X tons per ha in 2021, and then contracted in the following year. 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 Nepal fell to X ha in 2022, declining by -12.6% against the year before. The harvested area increased at an average annual rate of +1.6% over the period from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2021 when the harvested area increased by 34%. As a result, the harvested area reached the peak level of X ha, and then contracted in the following year.

Buckwheat Exports

Exports from Nepal

In 2022, overseas shipments of buckwheat decreased by -33.5% to X tons for the first time since 2015, thus ending a six-year rising trend. In general, exports, however, showed resilient growth. The most prominent rate of growth was recorded in 2014 with an increase of 83% against the previous year. The exports peaked at X tons in 2021, and then contracted dramatically in the following year.

In value terms, buckwheat exports dropped to $X in 2022. Overall, exports, however, continue to indicate a prominent expansion. The pace of growth appeared the most rapid in 2014 when exports increased by 96% against the previous year. Over the period under review, the exports hit record highs at $X in 2021, and then declined slightly in the following year.

Exports by Country

Belgium (X tons), the United States (X tons) and the UK (X tons) were the main destinations of buckwheat exports from Nepal, together accounting for 70% of total exports.

From 2012 to 2022, the biggest increases were recorded for Belgium (with a CAGR of +545.2%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the UK ($X), Belgium ($X) and the United States ($X) were the largest markets for buckwheat exported from Nepal worldwide, with a combined 79% share of total exports.

Belgium, with a CAGR of +206.8%, recorded the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average buckwheat export price stood at $X per ton in 2022, increasing by 50% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +5.6%. 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 2022, amid the top suppliers, the country with the highest price was the UK ($X per ton), while the average price for exports to Belgium ($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 the UK (+4.4%), while the prices for the other major destinations experienced a decline.

Buckwheat Imports

Imports into Nepal

In 2022, purchases abroad of buckwheat was finally on the rise to reach X tons for the first time since 2019, thus ending a two-year declining trend. In general, imports showed a significant increase. The most prominent rate of growth was recorded in 2013 with an increase of 1,271%. Over the period under review, imports hit record highs at X tons in 2016; however, from 2017 to 2022, imports failed to regain momentum.

In value terms, buckwheat imports skyrocketed to $X in 2022. Overall, imports continue to indicate significant growth. The most prominent rate of growth was recorded in 2013 with an increase of 2,352%. Over the period under review, imports hit record highs at $X in 2019; however, from 2020 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, India (X tons) was the main buckwheat supplier to Nepal, with a approx. 100% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of volume from India stood at +33.1%.

In value terms, India ($X) constituted the largest supplier of buckwheat to Nepal.

From 2012 to 2022, the average annual growth rate of value from India stood at +50.8%.

Import Prices by Country

The average buckwheat import price stood at $X per ton in 2022, increasing by 5.7% against the previous year. Overall, the import price saw buoyant growth. The pace of growth appeared the most rapid in 2013 when the average import price increased by 79% against the previous year. Over the period under review, average import prices reached the maximum in 2022 and is likely to continue growth in years to come.

As there is only one major supplying country, the average price level is determined by prices for India.

From 2012 to 2022, the rate of growth in terms of prices for India amounted to +13.3% per year.

Source: IndexBox Platform