Wheat Market - The U.S. Remains the Largest Global Wheat Exporter Despite 26% Drop

Cereals August 30, 2015
Author: Alexander Romanenko
Chief Executive Officer

wheat market

The U.S. dominates in the global wheat trade. In 2014, the U.S. exported 25,646 thousand tonnes of wheat totaling 7,781 million USD, 26% under the previous year. Its primary trading partner on the global wheat market was Japan, where it supplied 12% of its total wheat exports in value terms, accounting for 46% of Japan's total imports.

From 2007 to 2014, the U.S. was a net exporter of wheat. Over this period, exports consistently exceeded imports in value terms. However, in physical terms, the difference was less pronounced.

Canada and France were among the other main global suppliers of wheat in 2014. However, the fastest growing exporters from 2007 to 2014 were Ukraine (+43% per year) and Romania (+54% per year). Still, it was Canada that strengthened its position in the global export structure.

The U.S.'s top 5 trading partners in 2014 were Japan, Mexico, Brazil, Nigeria and Philippines, with a combined 50% share of U.S. wheat exports. The share of Brazil increased (+8 percentage points), and the shares of the remaining U.S. partners demonstrated modest growth.

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Source: World: Wheat - Market Report. Analysis And Forecast To 2020