The Europe wheat market is projected to register a CAGR of 4.2% during the forecast period (2020-2025).Wheat is one of the crops which are produced on a mass-scale in European Union countries. European Union produced about 242 million metric ton of wheat in 2018, preceded only by Asia. Major producers of wheat in Europe are Russia, France, Ukraine and Germany. Other significant producers are United Kingdom, Poland, Romania and Spain.
Key Market Trends
Russia is the Leading Producer
Russia is the highest producer of wheat in the region, it produced around 72 million metric ton of wheat in 2018. However, wheat is a crop sensitive to weather, the production may be influenced by climate change. The country's extensive unused land resources and large yield gaps are the factors that are likely to substantially increase the production of wheat in the near future. The warming of the climate and extreme temperatures of Russia can weaken the global food security if major crops like wheat are affected.
Russia is the Leading Exporter of Wheat in Europe
Russian Federation exported around 43.9 million metric ton of wheat in 2018 which was valued at 8.4 million USD. Leading importers of Russian wheat are Egypt, Turkey, Vietnam, Sudan, Nigeria, Bangladesh, Yemen and Indonesia. According to the ITC trade, in 2018, the majority of its exports were to Egypt(1.8 million metric ton), followed by Turkey (1 million metric ton).
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