In 2024, the global wheat export market is dominated by Russia with the highest share (20.04%), followed by the United States (9.86%) and Canada (9.51%). While Russia and Ukraine have shown significant year-on-year growth, countries like France and Canada have experienced slight declines. Rapid growth in countries like Argentina and Bosnia and Herzegovina is noteworthy, whereas South Africa and Dominican Republic have seen substantial declines. The CAGR analysis over the past five years indicates moderate to strong annual growth for several key exporters despite occasional fluctuations.
Future trends to watch include:
- Potential shifts in export volumes due to geopolitical events and trade policies impacting Russia and Ukraine.
- Increased competition from emerging exporters such as Brazil, Iran, and Angola, which have recently shown high growth rates.
- Climate change effects on wheat production, influencing export capacities of traditional exporters like the United States and Canada.
- Technological advancements in agriculture leading to potential increases in yield and export capacities for smaller producers.
Top countries in Wheat Export Volume Share by Country (Thousand Metric Tons)
| # | 10 Countries | Percent | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Russia | 20.04 | 2023 | +3.41% | +2% | View data |
| 2 | 2 United States | 9.86 | 2023 | -0.63% | +0.27% | View data |
| 3 | 3 Canada | 9.51 | 2023 | -0.35% | -0.77% | View data |
| 4 | 4 Ukraine | 8.02 | 2023 | +2.32% | +3.11% | View data |
| 5 | 5 France | 7.56 | 2023 | -0.97% | -1.89% | View data |
| 6 | 6 Argentina | 6.93 | 2023 | +4.94% | +6.38% | View data |
| 7 | 7 Australia | 5.5 | 2023 | -2.27% | +1.22% | View data |
| 8 | 8 Kazakhstan | 3.9 | 2023 | +1.96% | +0.84% | View data |
| 9 | 9 Germany | 2.95 | 2023 | -5.16% | -2.85% | View data |
| 10 | 10 Romania | 2.61 | 2023 | +1.23% | +1.46% | View data |
