Slovakia: Wheat Market 2024

Wheat Market Size in Slovakia

In 2022, the Slovak wheat market was finally on the rise to reach $X after two years of decline. Over the period under review, the total consumption indicated a slight increase from 2012 to 2022: its value increased at an average annual rate of +1.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market attained the peak level at $X in 2014; however, from 2015 to 2022, consumption failed to regain momentum.

Wheat Production in Slovakia

In value terms, wheat production stood at $X in 2022 estimated in export price. The total output value increased at an average annual rate of +3.1% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 when the production volume increased by 28% against the previous year. Over the period under review, production reached the maximum level at $X in 2014; however, from 2015 to 2022, production remained at a lower figure.

In 2022, the average yield of wheat in Slovakia fell to X tons per ha, almost unchanged from the previous year. The yield figure increased at an average annual rate of +5.4% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2013 when the yield increased by 39%. Over the period under review, the average wheat yield reached the peak level at X tons per ha in 2016; however, from 2017 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 wheat harvested area in Slovakia rose slightly to X ha in 2022, with an increase of 4.2% against the previous year. Over the period under review, the harvested area, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 with an increase of 10% against the previous year. As a result, the harvested area attained the peak level of X ha. From 2017 to 2022, the growth of the wheat harvested area remained at a lower figure.

Wheat Exports

Exports from Slovakia

Wheat exports from Slovakia dropped to X tons in 2022, falling by -3% against the year before. In general, total exports indicated a resilient expansion from 2012 to 2022: its volume increased at an average annual rate of +6.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by -11.3% against 2020 indices. The most prominent rate of growth was recorded in 2020 with an increase of 53% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

In value terms, wheat exports skyrocketed to $X in 2022. Overall, exports, however, posted a prominent expansion. The pace of growth was the most pronounced in 2020 when exports increased by 47%. The exports peaked in 2022 and are expected to retain growth in the immediate term.

Exports by Country

Hungary (X tons), Austria (X tons) and Germany (X tons) were the main destinations of wheat exports from Slovakia, together comprising 62% of total exports. Italy, Poland, the Czech Republic and Switzerland lagged somewhat behind, together accounting for a further 37%.

From 2012 to 2022, the biggest increases were recorded for Switzerland (with a CAGR of +111.1%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for wheat exported from Slovakia were Hungary ($X), Germany ($X) and Italy ($X), with a combined 60% share of total exports. Austria, Poland, the Czech Republic and Switzerland lagged somewhat behind, together accounting for a further 39%.

Switzerland, with a CAGR of +120.2%, 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

In 2022, the average wheat export price amounted to $X per ton, with an increase of 27% against the previous year. Overall, export price indicated pronounced growth from 2012 to 2022: its price increased at an average annual rate of +2.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, wheat export price increased by +61.7% against 2020 indices. The growth pace was the most rapid in 2021 when the average export price increased by 27% against the previous year. Over the period under review, the average export prices attained the maximum in 2022 and is likely to see steady growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Switzerland ($X per ton), while the average price for exports to Hungary ($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 Switzerland (+4.3%), while the prices for the other major destinations experienced more modest paces of growth.

Wheat Imports

Imports into Slovakia

In 2022, overseas purchases of wheat were finally on the rise to reach X tons after two years of decline. Over the period under review, imports, however, recorded a pronounced shrinkage. Over the period under review, imports reached the maximum at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, wheat imports surged to $X in 2022. Overall, imports, however, continue to indicate a abrupt curtailment. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Ukraine (X tons) constituted the largest wheat supplier to Slovakia, with a 80% share of total imports. Moreover, wheat imports from Ukraine exceeded the figures recorded by the second-largest supplier, the Czech Republic (X tons), more than tenfold. The third position in this ranking was taken by Hungary (X tons), with a 3.9% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Ukraine amounted to +327.9%. The remaining supplying countries recorded the following average annual rates of imports growth: the Czech Republic (-11.9% per year) and Hungary (-27.2% per year).

In value terms, Ukraine ($X) constituted the largest supplier of wheat to Slovakia, comprising 72% of total imports. The second position in the ranking was taken by the Czech Republic ($X), with a 7.5% share of total imports. It was followed by Hungary, with a 5.6% share.

From 2012 to 2022, the average annual growth rate of value from Ukraine amounted to +228.5%. The remaining supplying countries recorded the following average annual rates of imports growth: the Czech Republic (-8.0% per year) and Hungary (-24.6% per year).

Import Prices by Country

The average wheat import price stood at $X per ton in 2022, shrinking by -20.7% against the previous year. Over the period under review, the import price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of 20% against the previous year. As a result, import price reached the peak level of $X per ton, and then declined dramatically in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Czech Republic (+4.4%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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