New Zealand: Wheat Market 2025

Wheat Market Size in New Zealand

The New Zealand wheat market soared to $X in 2022, picking up by 31% against the previous year. The market value increased at an average annual rate of +2.4% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Wheat Production in New Zealand

In value terms, wheat production rose to $X in 2022 estimated in export price. Overall, production recorded tangible growth. The most prominent rate of growth was recorded in 2015 with an increase of 223% against the previous year. As a result, production attained the peak level of $X. From 2016 to 2022, production growth remained at a somewhat lower figure.

In 2022, the average yield of wheat in New Zealand stood at X tons per ha, therefore, remained relatively stable against the previous year's figure. Overall, the yield saw a modest increase. The growth pace was the most rapid in 2020 with an increase of 12% against the previous year. As a result, the yield attained the peak level of X tons per ha. From 2021 to 2022, the growth of the average wheat yield failed to regain momentum. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, the harvested area of wheat in New Zealand amounted to X ha, increasing by 2.5% on the previous year. Over the period under review, the harvested area, however, saw a noticeable slump. The most prominent rate of growth was recorded in 2019 when the harvested area increased by 8.6% against the previous year. Over the period under review, the harvested area dedicated to wheat production attained the maximum at X ha in 2012; however, from 2013 to 2022, the harvested area remained at a lower figure.

Wheat Exports

Exports from New Zealand

In 2022, approx. X tons of wheat were exported from New Zealand; with an increase of 6.9% compared with the previous year. Over the period under review, exports posted a significant increase. The most prominent rate of growth was recorded in 2021 when exports increased by 1,359%. Over the period under review, the exports reached the maximum in 2022 and are likely to continue growth in years to come.

In value terms, wheat exports surged to $X in 2022. In general, exports enjoyed significant growth. The growth pace was the most rapid in 2021 when exports increased by 808%. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in the immediate term.

Exports by Country

The United States (X tons) was the main destination for wheat exports from New Zealand, with a 94% share of total exports. Moreover, wheat exports to the United States exceeded the volume sent to the second major destination, Singapore (X tons), more than tenfold. The third position in this ranking was held by Canada (X tons), with a 1.5% share.

From 2012 to 2022, the average annual growth rate of volume to the United States totaled +308.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Singapore (+12.4% per year) and Canada (-11.7% per year).

In value terms, the United States ($X) emerged as the key foreign market for wheat exports from New Zealand, comprising 92% of total exports. The second position in the ranking was taken by Singapore ($X), with a 6.2% share of total exports. It was followed by Canada, with a 1.4% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States amounted to +267.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Singapore (+13.5% per year) and Canada (-11.1% per year).

Export Prices by Country

In 2022, the average wheat export price amounted to $X per ton, surging by 25% against the previous year. Over the period under review, the export price recorded slight growth. The most prominent rate of growth was recorded in 2015 an increase of 94%. Over the period under review, the average export prices reached the peak figure at $X per ton in 2018; however, from 2019 to 2022, 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 Fiji ($X per ton), while the average price for exports to Canada ($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 Fiji (+16.7%), while the prices for the other major destinations experienced more modest paces of growth.

Wheat Imports

Imports into New Zealand

In 2022, supplies from abroad of wheat increased by 15% to X tons, rising for the second consecutive year after three years of decline. Overall, total imports indicated a measured increase from 2012 to 2022: its volume increased at an average annual rate of +3.1% 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 +46.4% against 2020 indices. The pace of growth was the most pronounced in 2017 when imports increased by 47% against the previous year. Over the period under review, imports attained the peak figure in 2022 and are likely to continue growth in the immediate term.

In value terms, wheat imports soared to $X in 2022. Over the period under review, total imports indicated a strong expansion from 2012 to 2022: its value increased at an average annual rate of +5.0% 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 +108.8% against 2020 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, Australia (X tons) was the main supplier of wheat to New Zealand, accounting for a approx. 99.9% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of volume from Australia amounted to +3.1%.

In value terms, Australia ($X) constituted the largest supplier of wheat to New Zealand.

From 2012 to 2022, the average annual growth rate of value from Australia totaled +5.0%.

Import Prices by Country

In 2022, the average wheat import price amounted to $X per ton, increasing by 29% against the previous year. Overall, import price indicated a mild increase from 2012 to 2022: its price increased at an average annual rate of +1.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, wheat import price increased by +70.7% against 2017 indices. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2022, the rate of growth in terms of prices for Australia amounted to +1.8% per year.

Source: IndexBox Platform

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