In the 2023/2024 marketing year, the top consumers of wheat globally were China, the European Union, and India. China consumed over 153 million metric tons of wheat that year. Wheat consumption worldwide is slowly increasing, growing by about eight percent since 2018/2019.
Prices around the world have risen as of 2022. Many believe that the Russian invasion of Ukraine is to blame for the rising wheat prices and others believe it is the speculation of an impending food crisis that is driving up demand. The price of the most common variety of wheat grown in the U.S., hard red winter wheat, reached an all-time high in May 2022, reaching over 522 dollars per metric ton. Globally, the real household income is expected to decline by about 1.57 percent due to the increased cost of wheat and corn. Some countries will experience a decline of over five percent, showing the real impact that growing prices have on consumers across the world.
Wheat consumption worldwide in 2023/2024, by country (in 1,000 metric tons)*
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US Department of Agriculture. (January 12, 2024). Wheat consumption worldwide in 2023/2024, by country (in 1,000 metric tons)* [Graph]. In Statista. Retrieved October 04, 2024, from https://www.statista.com/statistics/1094065/total-global-wheat-consumption-by-country/
US Department of Agriculture. "Wheat consumption worldwide in 2023/2024, by country (in 1,000 metric tons)*." Chart. January 12, 2024. Statista. Accessed October 04, 2024. https://www.statista.com/statistics/1094065/total-global-wheat-consumption-by-country/
US Department of Agriculture. (2024). Wheat consumption worldwide in 2023/2024, by country (in 1,000 metric tons)*. Statista. Statista Inc.. Accessed: October 04, 2024. https://www.statista.com/statistics/1094065/total-global-wheat-consumption-by-country/
US Department of Agriculture. "Wheat Consumption Worldwide in 2023/2024, by Country (in 1,000 Metric Tons)*." Statista, Statista Inc., 12 Jan 2024, https://www.statista.com/statistics/1094065/total-global-wheat-consumption-by-country/
US Department of Agriculture, Wheat consumption worldwide in 2023/2024, by country (in 1,000 metric tons)* Statista, https://www.statista.com/statistics/1094065/total-global-wheat-consumption-by-country/ (last visited October 04, 2024)
Wheat consumption worldwide in 2023/2024, by country (in 1,000 metric tons)* [Graph], US Department of Agriculture, January 12, 2024. [Online]. Available: https://www.statista.com/statistics/1094065/total-global-wheat-consumption-by-country/