Spain: Wheat Market 2025

Wheat Market Size in Spain

The Spanish wheat market expanded significantly to $X in 2022, with an increase of 15% against the previous year. Over the period under review, consumption recorded a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2016; however, from 2017 to 2022, consumption remained at a lower figure.

Wheat Production in Spain

In value terms, wheat production totaled $X in 2022 estimated in export price. In general, the total production indicated slight growth from 2012 to 2022: its value increased at an average annual rate of +1.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -9.4% against 2020 indices. The pace of growth appeared the most rapid in 2018 when the production volume increased by 72%. Over the period under review, production hit record highs at $X in 2013; however, from 2014 to 2022, production failed to regain momentum.

In 2022, the average yield of wheat in Spain rose to X tons per ha, surging by 2.7% compared with 2021 figures. Over the period under review, the yield indicated a prominent increase from 2012 to 2022: its figure increased at an average annual rate of +5.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, wheat yield decreased by -2.8% against 2020 indices. The growth pace was the most rapid in 2018 with an increase of 73%. The wheat yield peaked at X tons per ha in 2020; however, from 2021 to 2022, the yield remained at a lower figure. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, the total area harvested in terms of wheat production in Spain fell to X ha, with a decrease of -5% compared with 2021. Overall, the harvested area recorded a relatively flat trend pattern. The growth pace was the most rapid in 2021 with an increase of 11% against the previous year. Over the period under review, the harvested area dedicated to wheat production reached the peak figure at X ha in 2016; however, from 2017 to 2022, the harvested area failed to regain momentum.

Wheat Exports

Exports from Spain

In 2022, exports of wheat from Spain rose remarkably to X tons, growing by 14% compared with the previous year. In general, exports enjoyed noticeable growth. The most prominent rate of growth was recorded in 2013 with an increase of 112% against the previous year. As a result, the exports reached the peak of X tons. From 2014 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, wheat exports surged to $X in 2022. Overall, exports showed temperate growth. The most prominent rate of growth was recorded in 2013 when exports increased by 98% against the previous year. As a result, the exports reached the peak of $X. From 2014 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Tunisia (X tons), Portugal (X tons) and Libya (X tons) were the main destinations of wheat exports from Spain, with a combined 68% share of total exports. Morocco, Italy, the UK and France lagged somewhat behind, together comprising a further 26%.

From 2012 to 2022, the biggest increases were recorded for Morocco (with a CAGR of +42.8%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Tunisia ($X) emerged as the key foreign market for wheat exports from Spain, comprising 36% of total exports. The second position in the ranking was taken by Portugal ($X), with a 17% share of total exports. It was followed by Libya, with a 14% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Tunisia stood at +9.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Portugal (-1.9% per year) and Libya (+25.6% per year).

Export Prices by Country

In 2022, the average wheat export price amounted to $X per ton, rising by 22% against the previous year. In general, export price indicated a tangible increase 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 +92.0% against 2016 indices. The growth pace was the most rapid in 2021 an increase of 28%. Over the period under review, the average export prices attained the peak figure in 2022 and is expected to retain growth in years to come.

Average prices varied somewhat for the major overseas markets. In 2022, amid the top suppliers, the countries with the highest prices were Libya ($X per ton) and Morocco ($X per ton), while the average price for exports to Portugal ($X per ton) and Italy ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Libya (+11.0%), while the prices for the other major destinations experienced more modest paces of growth.

Wheat Imports

Imports into Spain

In 2022, supplies from abroad of wheat was finally on the rise to reach X tons for the first time since 2016, thus ending a five-year declining trend. In general, imports, however, continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 when imports increased by 41% against the previous year. Over the period under review, imports reached the maximum at X tons in 2016; however, from 2017 to 2022, imports remained at a lower figure.

In value terms, wheat imports skyrocketed to $X in 2022. Over the period under review, imports continue to indicate a relatively flat trend pattern. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

France (X tons), Ukraine (X tons) and Latvia (X tons) were the main suppliers of wheat imports to Spain, together accounting for 56% of total imports. Bulgaria, the UK, Lithuania, Denmark, Canada, Romania, Germany, Russia and the United States lagged somewhat behind, together comprising a further 36%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Denmark (with a CAGR of +25.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest wheat suppliers to Spain were France ($X), Ukraine ($X) and Latvia ($X), together comprising 52% of total imports. Canada, the UK, Bulgaria, Denmark, Lithuania, Germany, Romania, Russia and the United States lagged somewhat behind, together accounting for a further 40%.

Denmark, with a CAGR of +26.6%, recorded the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average wheat import price stood at $X per ton in 2022, picking up by 20% against the previous year. Overall, import price indicated a mild expansion from 2012 to 2022: its price increased at an average annual rate of +1.3% 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 +83.3% against 2016 indices. The growth pace was the most rapid in 2021 when the average import price increased by 29% against the previous year. The import price peaked in 2022 and is expected to retain growth in the near future.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for France ($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 United States (+7.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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