Price for Cereal Groats and Meal; of Maize (Corn) in Bangladesh - 2022

Price for Cereal Groats and Meal; of Maize (Corn) in Bangladesh (CIF) - 2022

The average import price for cereal groats and meal; of maize (corn)s stood at $1,528 per ton in 2022, rising by 14% against the previous year. In general, the import price enjoyed a buoyant increase. The most prominent rate of growth was recorded in 2015 an increase of 18%. The import price peaked in 2022 and is likely to see steady growth in years to come.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Spain ($1,581 per ton), while the price for Italy ($255 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Spain (+13.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Price for Cereal Groats and Meal; of Maize (Corn) in Bangladesh (FOB) - 2022

In 2022, the average export price for cereal groats and meal; of maize (corn)s amounted to $71 per ton, dropping by -10.5% against the previous year. Over the period under review, the export price faced a deep setback. The growth pace was the most rapid in 2013 an increase of 25% against the previous year. As a result, the export price reached the peak level of $485 per ton. From 2014 to 2022, the average export prices remained at a lower figure.

As there is only one major export destination, the average price level is determined by prices for Sri Lanka.

From 2012 to 2022, the rate of growth in terms of prices for Sri Lanka amounted to -12.7% per year.

Imports of Cereal Groats and Meal; of Maize (Corn) in Bangladesh

For the third year in a row, Bangladesh recorded decline in purchases abroad of cereal groats and meal; of maize (corn)s, which decreased by -9.1% to 12 tons in 2022. Over the period under review, imports saw a abrupt shrinkage. The smallest decline of -8% was in 2021.

In value terms, imports of cereal groats and meal; of maize (corn)s rose modestly to $18K in 2022. The total import value increased at an average annual rate of +3.9% over the period from 2019 to 2022; the trend pattern remained consistent, with only minor fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2021 with an increase of 3.9%. Imports peaked in 2022 and are expected to retain growth in the immediate term.

Import of Cereal Groats and Meal; of Maize (Corn) in Bangladesh (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Spain	7.7	6.7	7.4	8.3	2.5%
China	N/A	1.4	1.3	1.4	0.0%
Italy	0.2	0.2	0.1	0.1	-20.6%
India	0.3	0.9	N/A	N/A	200.0%
Others	8.2	7.8	8.9	8.5	1.2%
Total	16.4	17.0	17.7	18.4	3.9%

Top Suppliers of Cereal Groats and Meal; of Maize (Corn) to Bangladesh in 2022:

Spain (5.3 tons)
China (1.0 tons)
Italy (0.4 tons)

Exports of Cereal Groats and Meal; of Maize (Corn) in Bangladesh

In 2022, exports of cereal groats and meal; of maize (corn)s from Bangladesh contracted to 14 tons, which is down by -8.6% on 2021 figures. Over the period under review, exports recorded a abrupt contraction. The smallest decline of -8.6% was in 2021.

In value terms, exports of cereal groats and meal; of maize (corn)s contracted significantly to $986 in 2022. Overall, exports showed a abrupt descent. The smallest decline of -18.1% was in 2020.