IndexBox, Inc. has just published a new report “World – Cereals – Market Analysis, Forecast, Size, Trends and Insights“. Here is a summary of the report’s key findings.
In 2017, approx. 378M tonnes of cereals were imported worldwide; coming up by 8% against the previous year figure. The total import volume increased at an average annual rate of +3.5% from 2007 to 2017; however, the trend pattern indicated some noticeable fluctuations over the period under review. The pace of growth was the most pronounced in 2014, when imports increased by 12% from the previous year level. Over the period under review, cereal imports attained its maximum volume in 2017, and are likely to continue its growth in the near future.
In value terms, cereal imports stood at $85B in 2017. The total import value increased at an average annual rate of +1.6% over the period from 2007 to 2017; however, the trend pattern indicated some noticeable fluctuations throughout the analyzed period. Over the period under review, cereal imports attained its maximum level of $102B in 2013; however, from 2014 to 2017, it failed to regain its strength.
Cereal Imports By Country
Japan (23M tonnes), Mexico (22M tonnes), China (21M tonnes), Egypt (21M tonnes), Spain (16M tonnes), Italy (14M tonnes), Saudi Arabia (14M tonnes), Viet Nam (13M tonnes), Algeria (13M tonnes), the Netherlands (13M tonnes), Indonesia (13M tonnes), and South Korea (12M tonnes) represented roughly 51% of total imports of cereals in 2017.
From 2007 to 2017, the most notable growth rate of imports, among the main importing countries, was attained by Viet Nam (+22.5% per year), while the other global leaders experienced more modest paces of growth.
In value terms, Japan ($5.1B), China ($4.6B), and Egypt ($4.4B) were the countries with the highest levels of imports in 2017, together accounting for 16% of global imports. These countries were followed by Mexico, Indonesia, Italy, Spain, South Korea, Saudi Arabia, Algeria, the Netherlands and Viet Nam, which together accounted for a further 32%.
Viet Nam (+16.7% per year) recorded the highest growth rate of imports, among the main importing countries, over the last 10 year period, while the other global leaders experienced more modest paces of growth.
Cereal Import Prices By Country
In 2017, the average import price for cereals amounted to $226 per tonne, remaining constant against the previous year level. In general, cereal import price continues to indicate a slight descent. The pace of growth appeared the most rapid in 2008, an increase of 32% year-to-year. In that year, average import price for cereal attained its maximum level of $358 per tonne. From 2009 to 2017, growth of average import price for cereal failed to regain its strength.
Import prices varied noticeably by country of destination; the country with the highest import price was Indonesia ($306 per tonne), while Viet Nam ($175 per tonne) was among the lowest.
From 2007 to 2017, the most notable growth rate of import prices was attained by Indonesia (+2.0% per year), while the other global leaders experienced mixed trends in the import price figures.
This report provides an in-depth analysis of the global cereal market. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2025.
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