HS Code:
Wheat and meslin (HS Code: 1001) encompass various types of wheat grains, including durum wheat, common wheat, and meslin (a mixture of wheat and rye). This category is a staple in global agriculture, serving as a primary food source for a significant portion of the world's population. It is used in the production of bread, pasta, and other food products. Wheat is one of the most traded agricultural commodities globally, with trade patterns influenced by climatic conditions, agricultural policies, and geopolitical factors.
Total Trade Volume
Approximately 200 million metric tons
Data from 2022
Source
United Nations Comtrade Database and International Grains Council
45 million metric tons
22.5% of total trade of total trade
Increasing
27 million metric tons
13.5% of total trade of total trade
Stable
25 million metric tons
12.5% of total trade of total trade
Increasing
20 million metric tons
10.0% of total trade of total trade
Decreasing
18 million metric tons
9.0% of total trade of total trade
Stable
Average Rate
5.2% ad valorem
Highest Rate
35% (applied by some developing countries to protect domestic markets)
Lowest Rate
0% (under free trade agreements like EU-Canada CETA)
Rising demand in Asia and Africa
Increased exports from major producers like Russia and Canada to meet growing food security needs in populous regions.
2021-2022
Climate change affecting yields
Unpredictable weather patterns, such as droughts in Australia and heatwaves in Europe, have led to supply volatility and price spikes.
2020-2022
Shift towards sustainable farming
Growing consumer and regulatory demand for environmentally friendly production methods is influencing trade policies and pricing structures.
2019-2022
The ongoing conflict has severely disrupted wheat exports from Ukraine, a major global supplier, leading to supply shortages and record-high prices.
February 2022 - Present
Global food prices surged by over 20% in 2022, prompting countries to seek alternative suppliers like India and Argentina.
India imposed a ban on wheat exports in May 2022 to ensure domestic food security amid global supply concerns and rising prices.
May 2022
Tightened global supply, particularly affecting South Asian and Middle Eastern markets reliant on Indian wheat.
The European Union introduced stricter agricultural sustainability standards under the Green Deal, affecting wheat production and export competitiveness.
January 2021 - Present
Potential cost increases for EU wheat exporters, possibly reducing market share in price-sensitive regions.