Global trade in Wheat: Overview

 

Grains are considered one of the most important food, contributing to food supply globally. It is also one of the most important commodities in global trade. It is the most widely cultivated cereal in the world and a worldwide staple.

 

The world’s food dependency on annual wheat crop harvests is approximately 21%. World Trade of wheat is greater than for all the crops. According to reliable sources, world production of wheat was estimated to be about 772 million tonnes in 2017 with a forecast of 2019 production at 766 million tonnes. After maize, it is the second most-produced cereal. Wheat production is done in both developing and developed countries. The majority of developing countries import wheat through global trade. These countries consume 77% of total global wheat production.

 

Top Trading Countries

 

Wheat imported during 2020 globally was estimated at a total US$47.4 billion in international purchases. All buying countries' overall value of imported wheat rose by an average 13.7% since 2016 when the world’s total wheat purchase equaled $41.7 billion.

 

Among continents, Asian countries are in the top of the list; they buy wheat from other countries,where the purchase value is very high. According to reliable sources, during 2020, wheat imports from Asian countries with purchases valued at $20.3 billion. African importers came in second place at 27.2% and rest was delivered to Europe importers at 17.7%. Few major countries engaged in global trading of wheat are mentioned below:-

 

Egypt- Egypt is one of the top grain importing countries across the globe. In 2019, The country ranked first to import the most bulk wheat from other countries. In 2019, it imported $4.67B in wheat and became the largest wheat importer in the world. The country imports wheat mostly from Russia, Ukraine, Romania, United States and France. During 2020, the country imported US$ 2.7 billion worth of wheat, which was 5.7 percent of the total quantity of the imported grain globally.

 

Indonesia- The country does not produce wheat to fulfill their population demand. The demand for wheat is increasing day by day in Indonesia due to its growing population, fast urbanization and sustained income growth. The country is totally dependent on wheat imports to cater to the demand for human consumption. Indonesia’s import partners in 2019 were Canada, Ukraine, Argentina, United States, Australia, Russia, Brazil, Bulgaria and many more.

 

Turkey- Turkey plays an important role in global wheat trade. In 2020, the country imported $2.33 billion worth of wheat from Russia, Ukraine, Canada, Mexico, Spain, Poland, Lithuania, and Bulgaria. In Turkey, the consumption of wheat based products has increased in recent years. According to the government officials, Turkey has a population of 81 million in which it is currently hosting about 5 million refugees. This is the reason for rising wheat demand in the country.

 

How Tradologie.com helps in Global Trade for Agri-Commodities

 

Tradologie.com is the world’s 1st Global Trading Hub that facilitates trade through technology. It provides a platform where buyers and sellers can participate in real time live negotiations and secure the best deals. Through Tradologie.com, you can deal directly with manufacturers rather than any third-person or agent. It is an easy way to sell& buy wheat online in very less time.