Global Wheat Market & Volume By Production, Import, Export

ROSWELL, Ga. - Jan. 18, 2021 - PRLog -- Grains are an important provider to human food supplies across the globe. After rice and corn, wheat is ranked 3rd crop produced globally. The fact is that wheat can be produce or cultivated in areas where there is heterogeneous weather, elevation or soil. As such, wheat cultivation has adapted to a broader range, say, for instance, it can grow in conditions like dry or seaside moisture. Besides, wheat is a major food staple due to its plant's agronomic adaptability, ease of converting grains into flours as well as ease of grain storage and is also a major source of carbohydrates in many regions like North Africa, Northern Asia, Australia, and Europe. According to Renub Research report, The Global Wheat Market will be US$ 218.9 Billion by 2027.

In the developing countries, the majority of which are net importers consumes most of the global wheat production. To augment the level of food security, developing countries give subsidies or lower food prices so that consumers can consistently meet the dietary needs in their respective regions. Moreover, surging wheat consumption by population growth, increasing disposable income puts immense pressure on the wheat prices are some of the factors contributing to the growth of this market.

However, this wheat industry also faces some challenges; for instance, on the supply side, oil prices and climate change are the two important aspects that hinder the global wheat market's growth. Across the globe, various international research and policy organizations i.e. Consultative Group of International Agricultural Research (CGIAR) and the G20 Agriculture Ministers have made the impact of climate change on agriculture and food security a key priority.

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