Russian Federation: Buckwheat Market 2024

Buckwheat Market Size in the Russian Federation

The Russian buckwheat market rose notably to $X in 2022, picking up by 9.1% against the previous year. Overall, consumption showed a slight setback. Buckwheat consumption peaked at $X in 2016; however, from 2017 to 2022, consumption stood at a somewhat lower figure.

Buckwheat Production in the Russian Federation

In value terms, buckwheat production skyrocketed to $X in 2022 estimated in export price. In general, production continues to indicate a mild slump. The most prominent rate of growth was recorded in 2020 when the production volume increased by 90% against the previous year. Over the period under review, production attained the maximum level at $X in 2016; however, from 2017 to 2022, production failed to regain momentum.

The average yield of buckwheat in Russia rose modestly to X tons per ha in 2022, picking up by 4.3% against the year before. The yield figure increased at an average annual rate of +3.0% from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. The pace of growth appeared the most rapid in 2013 with an increase of 19% against the previous year. The buckwheat yield peaked at X tons per ha in 2020; however, from 2021 to 2022, the yield stood at a somewhat lower figure. 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 Russia reduced to X ha in 2022, which is down by -5.5% against the year before. Over the period under review, the harvested area continues to indicate a mild curtailment. The most prominent rate of growth was recorded in 2015 with an increase of 27%. Over the period under review, the harvested area dedicated to buckwheat production reached the maximum at X ha in 2016; however, from 2017 to 2022, the harvested area failed to regain momentum.

Buckwheat Exports

Exports from the Russian Federation

In 2022, approx. X tons of buckwheat were exported from Russia; shrinking by -8.7% on the previous year's figure. Overall, exports, however, showed a significant expansion. The growth pace was the most rapid in 2017 with an increase of 216% against the previous year. Over the period under review, the exports hit record highs at X tons in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

In value terms, buckwheat exports shrank remarkably to $X in 2022. In general, exports, however, enjoyed significant growth. The most prominent rate of growth was recorded in 2017 when exports increased by 181%. The exports peaked at $X in 2021, and then contracted rapidly in the following year.

Exports by Country

Lithuania (X tons), Latvia (X tons) and Ukraine (X tons) were the main destinations of buckwheat exports from Russia, together accounting for 74% of total exports. Japan, Poland, China and Belgium lagged somewhat behind, together comprising a further 21%.

From 2012 to 2022, the biggest increases were recorded for Belgium (with a CAGR of +69.8%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for buckwheat exported from Russia were Lithuania ($X), Latvia ($X) and Ukraine ($X), together accounting for 72% of total exports. Japan, Poland, Belgium and China lagged somewhat behind, together comprising a further 23%.

Among the main countries of destination, Belgium, with a CAGR of +88.9%, recorded the highest rates of growth with regard to the value of exports, 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, reducing by -9.4% against the previous year. In general, the export price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 an increase of 65% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per ton in 2021, and then reduced in the following year.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Belgium ($X per ton), while the average price for exports to China ($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 Belgium (+11.3%), while the prices for the other major destinations experienced more modest paces of growth.

Buckwheat Imports

Imports into the Russian Federation

In 2021, buckwheat imports into Russia skyrocketed to X tons, increasing by 6,298% against 2020 figures. Overall, imports showed a strong increase. Imports peaked at X tons in 2016; however, from 2017 to 2021, imports stood at a somewhat lower figure.

In value terms, buckwheat imports surged to $X in 2021. Over the period under review, imports enjoyed a prominent expansion. The most prominent rate of growth was recorded in 2014 when imports increased by 3,471%. Over the period under review, imports attained the peak figure at $X in 2016; however, from 2017 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Lithuania (X tons) was the main buckwheat supplier to Russia, accounting for a 95% share of total imports. It was followed by Belarus (X tons), with a 2.3% share of total imports. Japan (X tons) ranked third in terms of total imports with a 2.3% share.

From 2012 to 2021, the average annual growth rate of volume from Lithuania was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Belarus (-11.2% per year) and Japan (+84.0% per year).

In value terms, Lithuania ($X) constituted the largest supplier of buckwheat to Russia, comprising 93% of total imports. The second position in the ranking was held by Belarus ($X), with a 3.3% share of total imports. It was followed by Japan, with a 3.1% share.

From 2012 to 2021, the average annual growth rate of value from Lithuania was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Belarus (-6.4% per year) and Japan (+120.4% per year).

Import Prices by Country

In 2021, the average buckwheat import price amounted to $X per ton, reducing by -49.2% against the previous year. In general, the import price, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 an increase of 164% against the previous year. As a result, import price attained the peak level of $X per ton, and then shrank notably in the following year.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Japan (+19.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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