Durum Wheat Price Trend and Forecast

Durum Wheat Regional Price Overview

Get the latest insights on price movement and trend analysis of Durum Wheat in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East & Africa).

Durum Wheat Price Trend for the First Half of 2024

During the first half of the year 2024, durum wheat prices were largely observed to be stable in the global markets. Not any severe fluctuation was seen in the prices as the durum planting season concluded in June '24; because of steady international demand and tight market conditions durum wheat market remained consolidated. Major buyers for US durum were Algeria and Italy. Canada's durum crop is in good condition, with an expected 40% production increase.
 

Durum Wheat Price Chart

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There were some noteworthy regional variations in global durum trade, such as Canada's rise in export volumes, while Italy's durum wheat production estimatedly fell during this time, potentially reaching a decade low. This decline is largely due to severe drought conditions in Southern Italy and an 11% reduction in cultivated areas, dropping to less than 1.2 million hectares, with some regions experiencing up to a 17% decrease. The situation is worsened by increased imports of foreign durum wheat from Russia and Turkey, doubling the average import levels and intensifying competition for Italian producers. Overall, globally, the durum wheat market was largely consolidated during the first six months of 2024.

Analyst Insight

According to Procurement Resource, the Durum Wheat market is expected to sustain its steadiness in the coming months; not much change is anticipated on a global level.
 

Durum Wheat Price Trend for the Second Half of 2023

Durum wheat prices were observed to fluctuate throughout the said period of H2’23. Drought-like conditions in Saskatchewan and Alberta caused durum wheat prices to rise sharply. Cananda’s durum production was estimated at around 3.7 million tonnes, significantly lower than the 5.4 million tonnes of the previous year. An overall decline of about 22% was observed in global wheat production this year compared to the last year.

Because of this the prices of associated products like pasta also started inclining. As countermeasures, various producing countries like Russia and Türkiye limited the export quantities to maintain the domestic supplies and prices. A little downfall was noticed in December because of demand destruction led by heightened prices of durum wheat. Overall, surging trends were observed for the global durum wheat market.

Analyst Insight

According to Procurement Resource, the Durum Wheat price trends are likely to continue rising in the coming months since the production is not likely to improve anytime soon.
 

Durum Wheat Price Trend for the First Half of 2023

Durum Wheat is a variety of wheat used extensively to make pasta. It is primarily produced and consumed in the European region. During the first half of the year 2023, the Durum Wheat prices observed a low swinging price trend as the prices observed a continuous fall during the said period.

In the Italian Foggia market, the Durum Wheat (Fino) average prices started at around 477.5 Euro/MT in January’23 and depleted to about 337.5 Euro/MT in June with an approximate decline of about 29% within the discussed time frame. In the season of agricultural price hikes, the Durum Wheat prices plunged because the farmers initially retained the supplies in order to garner higher profits, but the impact was the opposite. Even with falling wheat prices, pasta prices rose surprisingly.

Analyst Insight

According to Procurement Resource, the price trend for Durum Wheat are expected to stabilize within the coming months, given the current pricing fundamentals.

Procurement Resource provides latest prices of Durum Wheat. Each price database is tied to a user-friendly graphing tool dating back to 2014, which provides a range of functionalities: configuration of price series over user defined time period; comparison of product movements across countries; customisation of price currencies and unit; extraction of price data as excel files to be used offline.