How Global Wheat Exports Are Shaping the World Economy
Wheat is one of the most important crops in the world, feeding billions of people and animals every year. It is also a major commodity in the global trade, with many countries competing to export their wheat to different markets. In this article, we will explore how global wheat exports are shaping the world economy, and what are the main challenges and opportunities for wheat producers and consumers.
Wheat is a cereal grain that can be used for making bread, pasta, noodles, cakes, biscuits, and many other food products. It can also be used as animal feed, biofuel, or industrial raw material. Wheat is grown in almost every continent, but the largest producers are China, India, Russia, the United States, and France. These countries account for more than half of the world’s wheat production.
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However, not all wheat producers are also wheat exporters. Some countries consume most of their wheat domestically, while others have a surplus that they sell to other countries. According to global trade data of wheat, total countries around the world supplied wheat worth USD 39.9 billion in 2019 . Russia stood at top position in global wheat exports, followed by the United States, Canada, France and Ukraine . These five countries shipped 90.4% of globally exported wheat in 2022 by value .
Global trade in wheat
Global trade in wheat is expected to grow in years to come, with increased demand from Africa, the Middle East, and Southeast Asia . These regions have a growing population and income, which leads to higher consumption of wheat-based products. They also face challenges such as climate change, water scarcity, and pests that affect their domestic wheat production. Therefore, they rely on imports from other countries to meet their food security needs.
On the other hand, global wheat exports also face some challenges and uncertainties. One of them is the volatility of wheat prices, which depend on factors such as weather conditions, crop yields, supply and demand, trade policies, and exchange rates. Wheat prices can fluctuate significantly from year to year, affecting the profitability and competitiveness of wheat exporters and importers.
Another challenge is the quality and safety of wheat products, which require high standards and regulations to ensure consumer satisfaction and health. Wheat exporters have to comply with different requirements and preferences of different markets, such as gluten content, protein level, moisture content, color, texture, etc. They also have to ensure that their wheat products are free from contaminants such as pesticides, mycotoxins, heavy metals, etc.
A third challenge is the environmental impact of wheat production and trade, which can have negative effects on soil health, water resources, biodiversity, greenhouse gas emissions, etc. Wheat exporters have to adopt sustainable practices and technologies to reduce their environmental footprint and improve their social responsibility.
Global wheat exports are shaping the world economy by creating trade opportunities and linkages between countries. They also contribute to food security and nutrition for millions of people around the world. However, global wheat exports also face some challenges and uncertainties that require innovation and cooperation among stakeholders. The future of global wheat exports depends on how well they can adapt to changing market conditions and consumer demands.
Global Wheat Exports: Trends and Prospects
Wheat is one of the most important staple crops in the world, providing food for billions of people and feed for livestock. Wheat is also a major commodity in international trade, with global exports reaching 178 million tonnes in 2019, valued at USD 39.9 billion . In this blog post, we will examine the trends and prospects of global wheat exports, based on the latest data and analysis from various sources.
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Top Wheat Exporters in 2019
According to the World’s Top Exports website , the top five wheat exporters in 2019 were Australia, United States, Canada, France and Russia, accounting for 61.7% of total wheat exports by value. Australia was the largest wheat exporter, with shipments worth USD 10.2 billion, up by 40.5% from 2018. The United States was the second-largest wheat exporter, with exports worth USD 8.52 billion, up by 12.9% from 2018. Canada was the third-largest wheat exporter, with exports worth USD 7.9 billion, up by 20.2% from 2018. France was the fourth-largest wheat exporter, with exports worth USD 7.4 billion, up by 62.4% from 2018. Russia was the fifth-largest wheat exporter, with exports worth USD 6.8 billion, down by 6.9% from 2018.
Top Wheat Importers in 2019
According to the USDA Foreign Agricultural Service website , the top ten wheat importers in 2022 (projected) are Mexico, Philippines, Japan, Nigeria, South Korea, China, Taiwan, Yemen, Colombia and Thailand, accounting for 46.4% of total wheat imports by value. Mexico is the largest wheat importer, with imports worth USD 1.58 billion, followed by Philippines with USD 920.25 million and Japan with USD 915.9 million. Nigeria is the largest wheat importer in Africa, with imports worth USD 481.67 million, while China is the largest wheat importer in Asia, with imports worth USD 392.48 million.
Wheat Export Outlook for 2020-2021
The outlook for global wheat exports in 2020-2021 is mixed, as the COVID-19 pandemic has affected both supply and demand factors in different ways. On the supply side, some major wheat exporters have faced production challenges due to unfavorable weather conditions, such as droughts in Australia and Canada, floods in France and pests in Russia . On the other hand, some wheat exporters have benefited from favorable weather conditions and increased yields, such as India and Argentina . On the demand side, some wheat importers have increased their purchases to ensure food security amid the pandemic, such as China and Egypt . On the other hand, some wheat importers have reduced their demand due to lower incomes and consumption patterns, such as Nigeria and Indonesia .
Overall, the International Grains Council (IGC) forecasts that global wheat exports will increase by 1% to reach 180 million tonnes in 2020-2021 . The IGC expects that Australia will regain its position as the largest wheat exporter, with shipments of 23 million tonnes, followed by Russia with 21 million tonnes and Canada with 20 million tonnes . The IGC also expects that China will remain the largest wheat importer, with purchases of 10 million tonnes, followed by Egypt with 9 million tonnes and Indonesia with 8 million tonnes .
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