The import of durum wheat to Spain has experienced fluctuating trends over the past decade. Starting from a value of 115.64 million USD in 2013, there was significant variation year-on-year. The period saw a peak in 2015 with 148.67 million USD, followed by a low in 2017 at 84.774 million USD. The import values have seen stabilization from 2018 onwards, maintaining around the 115 million USD mark, hitting 117.52 million USD in 2023.
The growth rate over the last two years (2022-2023) indicates a modest increase with annual changes slightly under 1%. Meanwhile, the 5-year CAGR leading up to 2023 stands at approximately -0.091%, reflecting minimal overall growth when averaged over the period.
Looking ahead, forecasts from 2024 to 2028 predict a steady albeit modest increase in import values. The 5-year CAGR for the forecasted period is expected to be around 0.64%, suggesting a continuation of cautious growth. By 2028, the import value is projected to reach 122.36 million USD, marking a slight overall increase of 3.23% from 2023.
Future trends to watch for:
- Potential changes in global wheat production and supply chain disruptions.
- Spain's domestic durum wheat production and its impact on import needs.
- Economic factors such as changes in trade policies or tariffs that could affect import costs.
- Consumer demand shifts, particularly in sectors like food manufacturing that heavily utilize durum wheat.
