Price for Cereals; Millet, Other than Seed in Spain - 2023
Contents:
- Price for Cereals; Millet, Other than Seed in Spain (CIF) - 2022
- Price for Cereals; Millet, Other than Seed in Spain (FOB) - 2022
- Imports of Cereals; Millet, Other than Seed in Spain
- Exports of Cereals; Millet, Other than Seed in Spain
Price for Cereals; Millet, Other than Seed in Spain (CIF) - 2022
The average import price for cereals; millet, other than seeds stood at $547 per ton in 2022, picking up by 14% against the previous year. Over the period under review, import price indicated slight growth from 2012 to 2022: its price 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, cereals; millet, other than seed import price increased by +10.2% against 2019 indices. The pace of growth was the most pronounced in 2019 when the average import price increased by 35% 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 China ($2,655 per ton), while the price for France ($394 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+10.7%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Cereals; Millet, Other than Seed in Spain (FOB) - 2022
The average export price for cereals; millet, other than seeds stood at $926 per ton in 2022, surging by 15% against the previous year. Over the period under review, the export price, however, saw a abrupt curtailment. The most prominent rate of growth was recorded in 2019 an increase of 51% against the previous year. Over the period under review, the average export prices reached the peak figure at $1,654 per ton in 2012; however, from 2013 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 the United States ($2,870 per ton), while the average price for exports to France ($410 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 United States (+29.7%), while the prices for the other major destinations experienced mixed trend patterns.
Imports of Cereals; Millet, Other than Seed in Spain
In 2022, purchases abroad of cereals; millet, other than seeds increased by 36% to 13K tons for the first time since 2019, thus ending a two-year declining trend. The total import volume increased at an average annual rate of +9.0% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.
In value terms, cereals; millet, other than seed imports soared to $7M in 2022. Over the period under review, total imports indicated a resilient expansion from 2019 to 2022: its value increased at an average annual rate of +12.6% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +80.2% against 2020 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.
| Import of Cereals; Millet, Other than Seed in Spain (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| France | 1,574 | 876 | 2,025 | 2,604 | 18.3% |
| Poland | 83.7 | 68.2 | 53.5 | 1,110 | 136.7% |
| Ukraine | 336 | 1,273 | 600 | 1,010 | 44.3% |
| Portugal | 29.7 | N/A | 655 | 715 | 188.7% |
| China | 815 | 259 | 488 | 617 | -8.9% |
| Netherlands | 162 | 148 | 156 | 299 | 22.7% |
| Italy | 984 | 40.1 | 152 | 179 | -43.3% |
| United States | 402 | 0.7 | N/A | N/A | -99.8% |
| Others | 539 | 1,238 | 405 | 500 | -2.5% |
| Total | 4,926 | 3,902 | 4,535 | 7,033 | 12.6% |
Top Suppliers of Cereals; Millet, Other than Seed to Spain in 2022:
- France (6.6K tons)
- Ukraine (2.1K tons)
- Poland (2.1K tons)
- Portugal (0.7K tons)
- Netherlands (0.4K tons)
- Italy (0.2K tons)
- China (0.2K tons)
Exports of Cereals; Millet, Other than Seed in Spain
In 2022, overseas shipments of cereals; millet, other than seeds decreased by -35.9% to 566 tons, falling for the second year in a row after two years of growth. Over the period under review, exports, however, continue to indicate significant growth. The most prominent rate of growth was recorded in 2020 with an increase of 371%. As a result, the exports reached the peak of 1.4K tons. From 2021 to 2022, the growth of the exports failed to regain momentum.
In value terms, cereals; millet, other than seed exports plummeted to $524K in 2022. In general, exports, however, showed significant growth. The most prominent rate of growth was recorded in 2020 when exports increased by 285%. As a result, the exports attained the peak of $812K. From 2021 to 2022, the growth of the exports failed to regain momentum.
| Export of Cereals; Millet, Other than Seed in Spain (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Portugal | 23.7 | 306 | 28.7 | 135 | 78.6% |
| United States | N/A | N/A | 150 | 112 | -25.3% |
| Algeria | 125 | 232 | 289 | 111 | -3.9% |
| United Kingdom | N/A | N/A | 88.3 | 89.7 | 1.6% |
| Canada | 60.5 | 123 | 123 | 62.3 | 1.0% |
| France | 0.9 | 150 | 7.2 | 9.9 | 122.4% |
| Others | 0.5 | 2.0 | 23.5 | 3.8 | 96.6% |
| Total | 211 | 812 | 709 | 524 | 35.4% |
Top Export Markets for Cereals; Millet, Other than Seed from Spain in 2022:
- Algeria (224.2 tons)
- Portugal (182.8 tons)
- United Kingdom (55.0 tons)
- Canada (40.0 tons)
- United States (39.0 tons)
- France (24.3 tons)
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In the immediate term, the global buckwheat market may face a shortage due to an export ban introduced in Russia. The country, being the largest producer and exporter of buckwheat, restricted exporting unprocessed buckwheat, coarsely ground buckwheat groats, and crushed buckwheat grain from June 5, 2021, to August 31. Russia took this step to preserve the volumes of the buckwheat grain for its domestic consumption and prevent a spike in prices inside the country. China, Latvia and Ukraine featured the most prominent increases in imports from Russia in 2021.
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