Wheat and meslin market in South America

Earlier Report Observations

The South American wheat and meslin market volume stood at 30.5 million tonnes in 2018, a year characterized by large-scale regional production and Argentina's established role as the primary supplier to Brazil, reinforcing regional trade flows. The market expanded to 36.9 million tonnes in 2019 but contracted back to 30.5 million tonnes in 2020.

After a sharp rise to 42.5 million tonnes in 2021 and a subsequent fall to 23.4 million tonnes in 2022, the market recovered to 34.0 million tonnes in 2023. This rebound was primarily driven by significant weather-related crop losses in Brazil's key producing state of Rio Grande do Sul. The adverse conditions reduced local wheat quality and triggered a structural shift, turning the region from a net exporter into a net buyer. This change drastically cut export volumes, retaining more supply within the domestic market and increasing the overall market size.

Production wheat and meslin in South America

In kind, 2017-2020, K t

Top producers of wheat and meslin, 2017-2020

World map of production of wheat and meslin, 2017-2020

South America's wheat and meslin production saw a two-year increase before declining. In 2020, production reached 27 818 K t, down 5.0% from the previous year. Over the period from 2017 to 2020, production grew by 5.6%, averaging an annual increase of 1.8%. The highest production level was recorded in 2019 at 29 290 K t, with the largest year-on-year growth occurring in 2018 at 6.5%.

Annual dynamics of production in South America in kind, 2017-2020, K t

Exports wheat and meslin from South America

Exports in kind, K t

The market showed an unstable trend during this period. South America exported 10 251 K t of wheat and meslin in 2020, a sharp increase of 82.6% compared to the previous year. Export levels fluctuated significantly, with a 2.3-fold difference between the low in 2019 at 5 614 K t and the high in 2017. The largest decline was recorded in 2019 at 51.1%.

Annual dynamics of product's exports from South America in kind, 2017-2020, K t

From 2017 to 2020, South America's wheat and meslin exports had a broad portfolio of buyers. Indonesia accounted for 11.7% of exports in kind, Algeria for 6.9%, and Thailand for 4.3%, together making up 22.9% of total exports. Many other countries held smaller but notable shares, reflecting a diversified market.

Structure of product's exports in kind by countries, 2017-2020

World map of product's exports from South America in kind, 2017-2020

Exports in value, M $ US

In 2020, South America's cross-border shipments of wheat and meslin totaled 2 287 M $ US, marking a strong decline of 10.9% compared to 2019. Over the 2017-2020 period, exports decreased by 10.9%, with a compound annual growth rate of -3.8%. The largest increase was recorded in 2019 at 0.4%.

Annual dynamics of product's exports from South America in value, 2017-2020, M $ US

Between 2017 and 2020, Indonesia, Algeria, and Thailand were the largest buyers of wheat and meslin from South America in value terms, contributing 11.8%, 6.4%, and 4.0% of exports, respectively. However, their combined share was limited to 22.3% of total exports, indicating a diversified country structure with many other markets involved.

Structure of product's exports in value by countries, 2017-2020

World map of product's exports from South America in value, 2017-2020

Imports wheat and meslin to South America

Imports in kind, K t

Market performance showed noticeable fluctuations during this period. South America imported 12 926 K t of wheat and meslin in 2020, a slight decline of 2.1% from 2019. Imports varied by 1.9-fold, with the lowest level in 2017 and the peak in 2018 at 13 903 K t. The largest decline occurred in 2019 at 5.1%, while the largest increase was in 2018 at 86.2%.

Annual dynamics of product's imports to South America in kind, 2017-2020, K t

From 2017 to 2020, Canada, the United States, and Russia were the leading sources for South America's wheat and meslin imports in kind. Canada accounted for 28.5% of imports, the United States for 17.0%, and Russia for 2.6%, together representing 48.2% of total import flows.

Structure of product's imports in kind by countries, 2017-2020

World map of product's imports to South America in kind, 2017-2020

Imports in value, M $ US

Imported wheat and meslin volumes in South America declined for the second consecutive year. In 2020, imports were recorded at 3 279 M $ US, a slight decrease of 1.7% compared to the previous year. Over the 2017-2020 period, imports increased by 5%, with a compound annual growth rate of 1.7%. The highest value was in 2018 at 3 520 M $ US, with the largest decline in 2019 at 5.2% and the largest increase in 2018 at 12.8%.

Annual dynamics of product's imports to South America in value, 2017-2020, M $ US

Throughout 2017 to 2020, Canada, the United States, and Russia remained the key markets for South America's wheat and meslin imports in value terms, collectively accounting for 50.2% of total import flows.

Structure of product's imports in value by countries, 2017-2020

World map of product's imports to South America in value, 2017-2020